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<SEC-DOCUMENT>0001104659-03-007077.txt : 20030423
<SEC-HEADER>0001104659-03-007077.hdr.sgml : 20030423
<ACCEPTANCE-DATETIME>20030423154409
ACCESSION NUMBER:		0001104659-03-007077
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030416
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTSTARCOM INC
		CENTRAL INDEX KEY:			0001030471
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATIONS EQUIPMENT, NEC [3669]
		IRS NUMBER:				521782500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29661
		FILM NUMBER:		03660069

	BUSINESS ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
		BUSINESS PHONE:		5108648800

	MAIL ADDRESS:	
		STREET 1:		1275 HARBOR BAY PARKWAY
		STREET 2:		STE 100
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>j9766_8k.htm
<DESCRIPTION>8-K
<TEXT>
<html>

<head>

<title>  </title>

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<body link="blue" vlink="purple">

<div style="font-family:'Times New Roman';">

<div style="border:none;border-top:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549-1004</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">CURRENT
REPORT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant to Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported):<b><font style="font-weight:bold;"> April 16, 2003</font></b></font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UTSTARCOM, INC.</font></b><font size="5" style="font-size:18.0pt;"> </font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.58%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.56%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">002-29661</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.56%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">52-1782500</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.58%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction<br>
  of incorporation)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.56%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
  <td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.56%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer <br>
  Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1275 Harbor Bay Parkway</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Alameda,
  California&#160; 94502</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive
  offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip code)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">(510)
  864-8800</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone number, including area code)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="5" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former address, if changed since last report.)</font></p>
  </td>
 </tr>
</table>

</div>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.&#160;&#160;&#160; Regulation FD
Disclosure</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following information
is furnished under Item 12, &#147;Results of Operations and Financial Condition.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April 16, 2003,
UTStarcom, Inc. issued a press release announcing its financial results for the
fiscal quarter ended March 31, 2003.&#160; A
copy of the press release is furnished as Exhibit 99.1 to this report.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>


<div style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
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</font>

<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has caused
this report to be signed on its behalf by the undersigned hereunto duly
authorized.</font></p>

<p style="margin:12.0pt 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.94%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="21%" valign="top" style="padding:0in .7pt 0in .7pt;width:21.62%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="44%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:44.44%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTSTARCOM, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.94%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="21%" valign="top" style="padding:0in .7pt 0in .7pt;width:21.62%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="44%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:44.44%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.94%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: April 23, 2003</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0in .7pt 0in .7pt;width:21.62%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.68%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="20%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:20.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michael J. Sophie</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.38%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.94%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="21%" valign="top" style="padding:0in .7pt 0in .7pt;width:21.62%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="44%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:44.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;&nbsp;&nbsp;&nbsp;Michael
  J. Sophie</font></p>
  </td>
 </tr>
 <tr>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.94%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="21%" valign="top" style="padding:0in .7pt 0in .7pt;width:21.62%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="44%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:44.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief
  Financial Officer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>


<div style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
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</font>

<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-indent:0in;">&nbsp;</p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">INDEX
TO EXHIBITS</font></b></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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  <td width="104" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;padding:0in 0in 0in 0in;width:78.0pt;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit</font></b></p>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-indent:.5in;">&nbsp;</p>
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  <p style="margin:0in 0in .0001pt 1.5pt;text-indent:-1.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release, dated April 16, 2003, issued by
  UTStarcom, Inc.</font></p>
  </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:'Times New Roman';font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UTStarcom
Q1 2003 Earnings Results: Best Quarter in Company&#146;s History<br>
<br></font></b>Company Reaches 13 Consecutive Quarters of
Profitability With Record Revenues And Earnings, and Raises Guidance for 2003</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ALAMEDA, Calif., April 16
/PRNewswire-FirstCall/ &#151; UTStarcom, Inc. (Nasdaq: UTSI), a leading global
provider of wireless and wireline access and IP switching solutions, today
reported record revenues and earnings for its first quarter ended March 31,
2003. UTStarcom will conduct a conference call today, Wednesday, April 16, at
1:30 p.m. PDT to discuss these results. (Please see Conference Call section
below for dial-in numbers.)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Photo:
http://www.newscom.com/cgi-bin/prnh/20001102/UTSILOGO )</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Again, it is my privilege to
report such positive news for UTStarcom. The record revenues and earnings for
the first quarter of the year mark the best results in the company&#146;s history,&#148;
said Hong Lu, chief executive officer of UTStarcom, Inc. &#147;Our focus on
financial success, global expansion, technology leadership, and sustainability
for long-term growth on a global basis will continue to demonstrate our
commitment to deliver tremendous value for our customers and strong financial
results for our investors.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net sales for the first quarter of 2003
increased to $330.5 million, an increase of 80% over the $183.7 million in net
sales reported in the prior year period.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income for the first quarter of 2003
increased 113% year-over-year to $37.3 million, or $0.33 per share, compared to
net income of $17.5 million, or $0.15 per share, for the first quarter of 2002.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;The unparalleled demand across all of
UTStarcom&#146;s product lines continues to drive strong revenue growth for the
company,&#148; added Mike Sophie, chief financial officer of UTStarcom, Inc. &#147;Both
operationally and financially, UTStarcom continues to execute on and exceed its
stated goals, allowing us to once again, raise guidance going forward.&#148;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Raising Guidance:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom is raising its guidance for
2003 and building the CommWorks acquisition into that guidance. CommWorks is
expected to close in late Q2 and therefore should not contribute any revenue
for the second quarter. As previously discussed, an In-Process Research and
Development charge of approximately $8 million and Operating Expenses of
approximately $4 million related to the acquisition will be recorded in Q2.
CommWorks is expected to contribute approximately $25 million in revenue and be
neutral to EPS in the third quarter and contribute revenue of $25&#151;$30 million
and be $0.01&#151;$0.02 accretive to EPS in the fourth quarter. With that, the
full-year revised Company guidance is as follows:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Revenue for the second quarter of 2003
is expected to be in the range of $380 to $390 million, with earnings per share
expected to be approximately $0.29&#151;$0.30 for the quarter on a GAAP basis,
inclusive of ($0.09) charge for CommWorks. Revenue for the full-year 2003 is
expected to be approximately $1.65 to $1.7 billion, as compared to the upward
guidance of $1.4 billion given in March of this year. Earnings per share for
2003 is expected to be approximately $1.50&#151;$1.51 on a GAAP basis, inclusive of
($0.09) charge for CommWorks anticipated in Q2, as compared to the upward
guidance of $1.44 given in March.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Key Highlights for Q1 2003</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;text-indent:.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stellar Financial Performance</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">&#149;</font></b><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face="Times New Roman">Best Q1 performance in company&#146;s history:&#160; Revenues of $330.5 million, EPS $0.33.</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times Ne
w Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font></p><font size="2" face="Times New Roman" style="font-size:10.0pt;">
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</font><p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">&#149;</font></b><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face="Times New Roman">Announced more than $350 million in contracts in the first quarter, adding substantial incremental visibility to the record $605 million backlog entering 2003.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160
;&#160;&#160; </font><font face="Times New Roman">Raised first quarter and fiscal-year guidance in March following strong sales and optimistic year-end outlook.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Logged 13th consecutive quarter of profitability since March 2000 IPO, once again exceeding street estimates.</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;text-indent:.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Global Leadership</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3
" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">In China, the number of subscribers on UTStarcom&#146;s PAS networks increased by 1.8 million to 9.3 million at the end of Q1.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Extended PAS contracts for the first time to Guizhou, one of China&#146;s Western provinces.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times N
ew Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Announced first IP-DSLAM contracts with China Netcom and follow-on contracts for IP-DSLAM with China Telecom, bringing the total number of lines deployed to over 200,000.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">&#149;</font></b><b><font size="1" face="Times New Roman" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><font face="Times New Roman">Announced $100 million expansion of IP-based DSLAM deployment for Yahoo! BB in Japan, where more than two million people had subs
cribed for service as of March 2003.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Launched first iPAS wireless access service in Ho Chi Minh, Vietnam with Vietnam Post and Telecommunications.</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;text-indent:.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Strategic International Expansion</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style=
"font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Entered into an agreement to acquire selected assets of CommWorks, the carrier-focused division of 3Com Corporation, for $100 million.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Establishes a global platform for profitable growth that leverages CommWorks&#146; diverse, blue-chip customer base, which includes 17 of the top 20 service providers in the world, primarily in the US and Europe.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font si
ze="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Gains strong portfolio of CommWorks&#146; wireline, wireless, and IP switching products that perfectly complements and extends UTStarcom&#146;s existing product line.</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Obtains access to CommWorks&#146; world-class customer support and professional services organization, providing steady and recurring revenue and new sales oppor
tunities.</font></p><p style="margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></p><font size="2" face="Times New Roman" style="font-size:10.0pt;">
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</font><p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p><p style="margin:0in 0in .0001pt;text-indent:.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Market Strength</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">#1 in Worldwide Softswitch Market for 2002 (Infonetics Research)</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160; </font><font face="Times New Roman">#1 in Worldwide PAS Market with nearly 10 million users worldwide, continue to hold 60% share in China</font></p><p style="font-size:10.0pt;margin:0in 0in .0001pt .6in;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">#2 in Worldwide DSLAM Market for 2002 (Infonetics Research, Synergy Research Group)</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conference Call</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The company will conduct a conference
call, which is open to the public, to discuss these results. The call will take
place at 1:30 p.m. (PDT) on Wednesday, April 16. The conference call dial-in
numbers are as follows: United States &#151; 888-428-4479; International &#151;
612-288-0329.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A replay of the call will be available
from approximately 5:00 p.m. (PDT) on April 16 to 11:59 p.m. (PDT) on April 23.
The conference call replay numbers are as follows: United States &#151;
800-475-6701; International &#151; 320-365-3844. The Access Code is 681569.
Investors will also have the opportunity to listen to the conference call and
the replay over the Internet through UTStarcom&#146;s Web site at:
http://www.utstar.com.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To listen to the live call, please go
to the Web site at least 15 minutes early to register, and to download and
install any necessary audio software. For those who cannot listen to the live
broadcast, a replay will also be available on this site.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">About UTStarcom, Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Founded in 1991 and headquartered in
Alameda, California, UTStarcom is a leading global provider of wireless and
wireline access and IP switching solutions. The company designs, manufactures,
sells, and installs an integrated suite of future-ready access network and
next-generation switching solutions. We enable wireless and wireline operators
in fast-growth markets worldwide to offer voice, data, and Internet access
services rapidly and cost effectively by utilizing their existing
infrastructure.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom&#146;s products provide a
seamless migration from wireline to wireless, from narrowband to broadband, and
from circuit&#151; to packet-based networks by employing &#147;Next Generation Network
Technology. Now.&#148; The company&#146;s customers include public telecommunications
service providers that operate wireless and wireline voice and data networks in
rapidly growing communications markets around the world.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For more information about UTStarcom,
visit the company&#146;s Web site at www.utstar.com.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Forward-Looking Statements</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This release includes forward-looking
statements, including the foregoing statements regarding continued strength of
the Company&#146;s business in China and in international markets as well as across
product lines, the Company&#146;s ability to replicate its success in China in
international markets, the guidance given for anticipated revenue and earnings
per share for the first quarter and full-year of 2003, and the impact of
backlog. These statements are forward-looking in nature and subject to risks
and uncertainties that may cause actual results to differ materially. These
risk factors include rapidly changing technology, the changing nature of global
telecommunications markets, particularly in China, the termination of
significant contracts, the direction and results of future research and
development efforts, evolving product and applications standards, reduction or
delays in system deployments, product transitions, potential non-realization of
backlog, changes in demand for and acceptance of the Company&#146;s products,
general adverse economic conditions, and trends and uncertainties such as
changes in government regulation and licensing requirements, particularly in
China. The Company also refers readers to the risk factors identified in its
latest Registration Statement on Form S-3, its Annual Report on Form 10-K, and
its Quarterly Reports on Form 10-Q as filed with the Securities and Exchange
Commission.</font></p>

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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom, Inc.</font></p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consolidated Statements of Operations</font></p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(In thousands, except per share amounts)</font></p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Unaudited)</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="26%" colspan="5" valign="bottom" style="padding:0in 0in 0in 0in;width:26.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Three months ended</font></b></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">March 31<br>
2003</font></b></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">March 31<br>
2002</font></b></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net sales</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">330,520</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">183,690</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cost of sales</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">217,835</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">118,048</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gross profit</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">112,685</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">65,642</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operating expenses:</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Selling, general and administrative</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37,583</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,686</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Research and development</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26,812</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19,197</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In process research and development</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,320</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amortization of intangible assets</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">695</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">477</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total operating expenses</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">66,410</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43,360</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operating income</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46,275</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,282</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest and other income (expenses)</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,490</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,079</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Equity in income (loss) of affiliated companies</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(975</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in .7pt 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(793</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in .7pt 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income before income taxes and minority interest</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49,790</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,568</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income tax expense</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12,447</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,514</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Minority interest in (earnings) of consolidated subsidiaries</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(528</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in .7pt 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net income</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37,343</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17,526</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basic earnings per share</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.35</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.16</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Diluted earnings per share</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.33</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0.15</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="top" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Weighted average shares used in per-share calculation:</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="top" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basic</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">107,358</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">110,044</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="top" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 30.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Diluted</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">111,953</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">116,758</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="26%" colspan="5" valign="bottom" style="padding:0in 0in 0in 0in;width:26.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Three months ended</font></b></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">March 31<br>
2003</font></b></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">March 31<br>
2002</font></b></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1. The above unaudited financial statements include the following non-cash expenses:</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cost of Sales</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Selling, general and administrative</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">118</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">542</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Research and development</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">594</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">797</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total stock compensation expense</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">715</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,346</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amortization of intangible assets</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">695</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">477</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In-process research and development</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,320</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Impairment in investment portfolio</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">223</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">440</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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</font><p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTStarcom, Inc.</font></p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consolidated Balance Sheets</font></p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(In thousands)</font></p><p style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Unaudited)</font></p><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">March 31<br>
2003</font></b></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">December 31,<br>
2002</font></b></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(unaudited)</font></b></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ASSETS</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current assets:</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cash, cash equivalents and short-term</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">investment</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">604,141</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">339,249</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounts receivable, net</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">255,267</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">222,050</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Inventories, net</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">794,468</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">424,666</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prepaid expenses</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">87,084</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47,220</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other current assets</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">88,141</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">74,187</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total current assets</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,829,101</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,107,372</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Property, plant and equipment, net</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">106,880</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">98,511</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long-term investments</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25,651</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35,360</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Goodwill and intangible assets, net</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55,379</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49,820</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other long term assets</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,425</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14,489</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total assets</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,046,436</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,305,552</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LIABILITIES AND STOCKHOLDERS&#146; EQUITY</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current liabilities:</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounts payable</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">476,885</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">256,980</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Income taxes payable</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18,925</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,003</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deferred revenue</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">257,207</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">164,247</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">118,243</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">104,927</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total current liabilities</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">871,260</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">539,157</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long-term debt</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">402,500</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total liabilities</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,273,760</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">539,157</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders&#146; equity:</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common stock</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">136</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">135</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additional paid-in capital</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">626,235</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">658,546</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deferred stock compensation</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11,058</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11,766</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Retained earnings</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">157,863</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">120,520</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Receivable from shareholders</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(282</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(282</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other comprehensive (loss)</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(218</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
  <td width="12%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(758</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total stockholders&#146; equity</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">772,676</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">766,395</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="top" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="10%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="top" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total liabilities and stockholders&#146; equity</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,046,436</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.3%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p></td>
  <td width="10%" valign="bottom" style="padding:0in 0in 0in 0in;width:10.7%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,305,552</font></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">March 31<br>
2003</font></b></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">December 31,<br>
2002</font></b></p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(unaudited)</font></b></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:center;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Inventories are made up of the following:</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" valign="bottom" style="font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Inventories at factories</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">215,015</font></p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">132,735</font></p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Inventories at customer locations</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">579,453</font></p></td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">291,931</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
  <td width="12%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;font-size:10.0pt;padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;">&nbsp;</p></td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p></td>
 </tr>
 <tr>
  <td width="71%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:71.0%;"><p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;">&nbsp;</p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">794,468</font></p></td>
  <td width="2%" valign="bottom" style="font-size:1.0pt;padding:0in 0in 0in 0in;width:2.0%;"><p style="margin:0in 0in .0001pt;">&nbsp;</p></td>
  <td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;"><p style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">424,666</font></p></td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;"><p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p></td>
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