<SUBMISSION>
<ACCESSION-NUMBER>0000032878-06-000104
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060912
<ITEMS>2.02
<ITEMS>9.01
<FILING-DATE>20060914
<DATE-OF-FILING-DATE-CHANGE>20060914
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ENERGY CONVERSION DEVICES INC
<CIK>0000032878
<ASSIGNED-SIC>3690
<IRS-NUMBER>381749884
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-08403
<FILM-NUMBER>061089692
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2956 WATERVIEW DRIVE
<CITY>ROCHESTER HILLS
<STATE>MI
<ZIP>48309
<PHONE>248-293-0440
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2956 WATERVIEW DRIVE
<CITY>ROCHESTER HILLS
<STATE>MI
<ZIP>48309
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ENERGY CONVERSION LABORATORIES INC
<DATE-CHANGED>19710603
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k_091206release.htm
<DESCRIPTION>RELEASE OF 9/12/06 ON FY 2006 OPERATING RESULTS
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>UNITED STATES</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>SECURITIES AND EXCHANGE COMMISSION</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>WASHINGTON, D.C. 20549</FONT></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT face="Arial, Helvetica, Sans-Serif" size=2>FORM 8-K</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>CURRENT REPORT</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>Pursuant to Section 13 Or 15(d) of the<BR>Securities Exchange Act of 1934</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 7.69%; TEXT-INDENT: -7.69%; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp; </FONT></P>

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<TD vAlign=top align=left width="50%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>Date of Report (Date of earliest event reported)</FONT> </TD>
<TD vAlign=top align=left width="50%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;September 12, 2006</FONT>
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<TD vAlign=top align=center width="100%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>ENERGY CONVERSION DEVICES, INC.</FONT> <BR>
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<TD vAlign=top align=left width="100%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 1pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT face="Arial, Helvetica, Sans-Serif" size=2>DELAWARE </FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 1pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>1-8403 </FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 1pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>38-1749884</FONT></P>
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<TD vAlign=top width="40%">
<P style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT face="Arial, Helvetica, Sans-Serif" size=2>(State or Other Jurisdiction<BR>of Incorporation)</FONT></P>
</TD>
<TD vAlign=top width="15%">
<P style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>(Commission<BR>File Number)</FONT></P>
</TD>
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<P style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>(I.R.S. Employer<BR>Identification No.)</FONT></P>
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<BR>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

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<TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="64%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 1.5pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT face="Arial, Helvetica, Sans-Serif" size=2>2956 Waterview Drive, Rochester Hills, Michigan</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 1.5pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>48309 </FONT></P>
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<TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="64%">
<P style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT face="Arial, Helvetica, Sans-Serif" size=2>(Address of principal executive offices)</FONT></P>
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<P style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><FONT face="Arial, Helvetica, Sans-Serif" size=2>(Zip Code)</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>Registrant's telephone number, including area code </FONT><U><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;(248) 293-0440&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></P>

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<TD vAlign=top width="8%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><FONT size=1>&nbsp; </FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>Former name, former address and former fiscal year, if changed since last report.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><FONT face="Arial, Helvetica, Sans-Serif" size=2>Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):</FONT></P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>[&nbsp;&nbsp;]&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>[&nbsp;&nbsp;]&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>[&nbsp;&nbsp;]&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17 CFR 240.14d-2(b))</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><FONT face="Arial, Helvetica, Sans-Serif" size=2>[&nbsp;&nbsp;]&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17 CFR 240.13e-4(c))</FONT></P>
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<P align=left><FONT face="Arial, Helvetica, Sans-Serif" size=2><U>Item 2.02</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Results of Operations and Financial Condition </U></FONT></P>

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<P><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information in this Current Report shall not be deemed &#147;filed&#148; for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of Energy Conversion Devices, Inc. , whether made before or after the date hereof, regardless of any general incorporation language in such filing. </FONT></P>

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<P><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On September 12, 2006, Energy Conversion Devices, Inc. issued a press release announcing its consolidated financial results for the fiscal year ended&nbsp;June&nbsp;30, 2006. A copy of the press release is furnished as Exhibit 99.1 to this report. </FONT></P>

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<P align=left><FONT face="Arial, Helvetica, Sans-Serif" size=2><U>Item 9.01</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Financial Statements and Exhibits</U></FONT></P>

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<P><FONT face="Arial, Helvetica, Sans-Serif" size=2>(d)&nbsp;&nbsp;&nbsp;&nbsp; Exhibits: </FONT></P>

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<TD width="90%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press release dated September 12, 2006 reporting consolidated financial results for<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the year ended&nbsp;June&nbsp;30, 2006. </FONT></TD></TR>
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<P align=center><FONT face="Arial, Helvetica, Sans-Serif" size=2>2</FONT></P>

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<P align=center><FONT face="Arial, Helvetica, Sans-Serif" size=2><U><B>SIGNATURES</B></U></FONT></P>

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<P><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. </FONT></P>

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<TD width="60%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>ENERGY CONVERSION DEVICES, INC.<BR><BR></FONT></TD></TR>
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<TD width="60%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>By:&nbsp;&nbsp;&nbsp;/s/ Sanjeev Kumar</FONT>
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<FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President and Chief Financial Officer</FONT> </TD></TR>
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<P align=left><FONT face="Arial, Helvetica, Sans-Serif" size=2>Date:&nbsp;September&nbsp;14, 2006 </FONT></P>
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<P align=center><FONT face="Arial, Helvetica, Sans-Serif" size=2>3</FONT></P>

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<P align=center><FONT face="Arial, Helvetica, Sans-Serif" size=2><U>Exhibit Index</U></FONT></P>

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<P align=left><FONT face="Arial, Helvetica, Sans-Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exhibit No.</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Description</U></FONT></P>

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<TD align=center width="30%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>99.1</FONT> </TD>
<TD align=left width="60%"><FONT face="Arial, Helvetica, Sans-Serif" size=2>Press release dated September 12, 2006 reporting consolidated<BR>financial results for the year ended&nbsp;June&nbsp;30, 2006</FONT> </TD></TR>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99p1_063006release.htm
<DESCRIPTION>RELEASE DATE 9/12/06 - FY 2006 RESULTS
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>FOURTH QUARTER 2006 OPERATING RESULTS</FONT></B></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#149;</B></FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><I><FONT size=2>Operating profit at United Solar Ovonic segment increased to $8.6 million in fiscal</FONT></I><FONT size=2>&nbsp;</FONT><I><FONT size=2>2006 compared to an operating loss of $3.2 million in fiscal 2005, on a 49% increase in revenues</FONT></I></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><I><FONT size=2>Annualized solar module production capacity at existing Auburn Hills facility reached 28MW during the fourth quarter</FONT></I></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><I><FONT size=2>Construction of solar cell manufacturing facility in Greenville, Michigan with an estimated capacity of 60MW per annum is underway and operation is expected in late 2007</FONT></I></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><I><FONT size=2>Cobasys began producing battery systems for GM&#146;s Saturn VUE Green Line HEV</FONT></I></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><I><FONT size=2>ECD Ovonics successfully completed a common stock offering with net proceeds<br>of over $361 million, principally to fund United Solar Ovonic&#146;s capacity expansion</FONT></I></P>
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<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 6pt; TEXT-INDENT: 7.81%; TEXT-ALIGN: left"><B><FONT size=2>Rochester Hills, Mich</FONT></B><FONT size=2>., Sept. 12, 2006 &#150; Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) today reported its results for the fiscal year and fourth quarter ended June 30, 2006. The company reported a net loss of $18.6 million (or $0.57 per share) on revenues of $102.4 million in fiscal 2006, as compared to net income of $50.3 million (or $1.70 per fully-diluted share) on revenues of $156.5 million in fiscal 2005. The fiscal 2005 results reflect a one-time, noncash license fee of $79.5 million received in fiscal 2005. The company also reported a net loss of $0.8 million (or $0.02 per share) on revenues of $27.9 million in the fourth quarter of fiscal 2006, as compared to a net loss of $6.9 million (or $0.23 per share) on revenues of $20.9 million in the fourth quarter of fiscal 2005.</FONT></P>

<P style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 6pt; TEXT-INDENT: 7.81%; TEXT-ALIGN: left"><FONT size=2>"We continued to improve performance and expand our business in the fourth quarter, which contributed to an overall solid year,&#148; said Chairman and CEO Robert C. Stempel. &#147;We are especially pleased with the performance of our United Solar Ovonic segment, which continues to expand its sales and manufacturing capacity, and at the same time improve its gross margins. Our Cobasys and Ovonyx joint ventures are also performing well.&#148;</FONT></P>

<P style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 6pt; TEXT-INDENT: 7.81%; TEXT-ALIGN: left"><FONT size=2>Mr. Stempel added, &#147;Unfortunately, in a year marked by so many positive events for our company, we are saddened by the sudden loss of our dear friend and colleague Dr. Iris Ovshinsky, who co-founded our company. She will be missed.&#148;</FONT></P>

<P style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 6pt; TEXT-INDENT: 7.81%; TEXT-ALIGN: left"><FONT size=2>The following are highlights from ECD Ovonics&#146; 2006 fiscal year:</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics&#146; wholly owned subsidiary United Solar Ovonic had operating income of $8.6 million on revenues of $87.5 million in fiscal 2006, as compared to an operating loss of $3.2 million on revenues of $58.7 million in fiscal 2005. Announced new business included 6MW of solar products for Actus Lend Lease and 46MW of solar products for Spazio Energia S.R.L. and Sunerg Solar S.R.L.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>United Solar Ovonic&#146;s gross profit margin increased to 22% in fiscal 2006 from 9% in fiscal 2005, reflecting increased production and sales and improved absorption of fixed costs as manufacturing production advanced toward its expected capacity of 30MW per annum. On a quarter-by-quarter basis, United Solar Ovonic&#146;s gross profit margin increased in each of the last six quarters, and was 24% in the fourth quarter of 2006.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>United Solar Ovonic continued to improve its solar module manufacturing capacity at its Auburn Hills I facility, which reached 7.0MW in the fourth quarter of fiscal 2006. Its new 30MW Auburn Hills II facility, which will be a duplicate of its Auburn Hills I facility, is nearly complete and is expected to become operational in the Fall of 2006.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics announced plans in March 2006 to expand United Solar Ovonic&#146;s solar module manufacturing capacity to an expected capacity exceeding 300MW per annum by 2010. As part of this expansion, the company also announced that it is constructing a 60MW solar cell manufacturing facility in Greenville, Michigan, which is expected to become operational in late 2007. In addition, last week, ECD Ovonics announced that it is adding a second 60MW solar cell manufacturing facility in its Greenville site, which is expected to begin operation in mid-2008.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics&#146; Production Technology and Machine Building Division is manufacturing and delivering the proprietary solar module manufacturing equipment for the new Auburn Hills 2 facility on budget and on schedule. This division is continuously improving its manufacturing efficiency, which will result in lower costs and shorter manufacturing cycles for the announced Greenville, Michigan facilities, as well as future expansion projects.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics&#146; Cobasys LLC joint venture began supplying battery systems to General Motors Corporation for its new Saturn VUE Green Line hybrid. Cobasys, the only United States-based supplier of NiMH battery systems for hybrid electric vehicles, continued to successfully compete for new business opportunities.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>Cobasys is supplying its NiMH battery systems for the Saturn VUE from its state-of-the-art manufacturing facility in Springboro, Ohio, which is fully certified to all standards required to be a supplier to the automakers.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics&#146; Ovonyx, Inc. joint venture secured new licenses with major chip manufacturers globally to commercialize Ovonic Unified Memory (OUM) technology and one of its licensees, BAE, announced a product based on OUM technology.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics&#146; combined research and development costs and net operating, general and administrative expenses were relatively unchanged in fiscal 2006 despite the growth in production and sales at United Solar Ovonic. At the same time, the company continued research and development activities to define marketable technologies that can result in commercial products and continues to pursue third-party funding, including strategic alliances and government contracts, to offset its funding requirements for these activities.</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics completed a common stock offering in March 2006 and raised net proceeds of approximately $361 million principally to expand United Solar Ovonic&#146;s solar manufacturing capacity. </FONT></P>
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</TD>
<TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 6pt" vAlign=top width="3%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#149;</B></FONT></P>
</TD>
<TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 6pt" vAlign=top>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>At June 30, 2006, ECD Ovonics had approximately $404.5 million of cash, cash equivalents and short-term investments on hand, reflecting the net proceeds from its March 2006 stock offering. The company recognized interest income of $8.7 million in 2006, due principally to significant increase in cash and short-term investments.</FONT></P>
</TD></TR>
</TABLE>

</DIV>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>- more -</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>-&nbsp;3 -</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<DIV align=left style="width: 650px">
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>
<TR>
<TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 6pt" vAlign=top width="7%">
<P style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=1></FONT>&nbsp;</P>
</TD>
<TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 6pt" vAlign=top width="3%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=4><B>&#149;</B></FONT></P>
</TD>
<TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 6pt; PADDING-TOP: 6pt" vAlign=top>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><FONT size=2>The improved quarter-over-quarter results were principally due to the continuing growth and improved gross margins at United Solar Ovonic and higher interest income, together with approximately $1.4 million of favorable one-time items in 2006. </FONT></P>
</TD></TR>
</TABLE>

</DIV>
<DIV style="WIDTH: 600px">
<P style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 6pt; TEXT-INDENT: 7.81%; TEXT-ALIGN: left"><FONT size=2>Additional information about the Company and its consolidated financial results can be found in the Company's Annual Report on Form 10-K for the year ended June 30, 2006, which was filed with the Securities and Exchange Commission today and will be available on the company's website.</FONT></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 6pt; TEXT-ALIGN: left"><B><FONT size=2>Conference Call Information</FONT></B></P>

<P style="MARGIN-TOP: 6pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 7.81%; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics will hold a conference call today, September 12, 2006, at 5:00 p.m. (Eastern Daylight Time) to discuss operating results for fiscal year and fourth quarter ended June 30, 2006. To access the conference call, please call (877) 858-2512 or (706) 634-1291. A live webcast of the conference call will be available online at http://www.ovonic.com/investor or through the Company's website at www.ovonic.com. A replay of the call will be available approximately one hour after the conclusion of the call through close of business on Friday, September 15, 2006, at (800) 642-1687 or (706) 645-9291. Callers should use conference ID 5564743 to access the conference call and the replay.</FONT></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 6pt; TEXT-ALIGN: left"><B><FONT size=2>About ECD Ovonics</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2>ECD Ovonics is the leader in the synthesis of new materials and the development of advanced production technology and innovative products. It has invented, pioneered and developed its proprietary, enabling technologies in the fields of energy and information leading to new products and production processes based on amorphous, disordered and related materials. The Company's portfolio of alternative energy solutions includes Ovonic thin-film amorphous solar cells, modules, panels and systems for generating solar electric power; Ovonic NiMH batteries; Ovonic hydride storage materials capable of storing hydrogen in the solid state for use as a feedstock for fuel cells or internal combustion engines or as an enhancement or replacement for any type of hydrocarbon fuel; and Ovonic fuel cell technology. ECD Ovonics' proprietary advanced information technologies include Ovonic phase-change electrical memory, Ovonic phase-change
optical memory and the Ovonic Threshold Switch. ECD Ovonics designs and builds manufacturing machinery that incorporates its proprietary production processes, maintains ongoing research and development programs to continually improve its products and develops new applications for its technologies. ECD Ovonics holds the basic patents in its fields. More information on the Company is available on www.ovonic.com.</FONT></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: center"><FONT size=2>###</FONT></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left"><I><FONT size=2>This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which ECD Ovonics, as of the date of this release, believes to be reasonable and </FONT></I></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left"><I><FONT size=2>appropriate. ECD Ovonics cautions, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based. The risk factors identified in the ECD Ovonics filings with the Securities and Exchange Commission, including the Company&#146;s most recent Annual Report on Form 10-K could impact any forward-looking statements contained in this release.</FONT></I></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 2pt; TEXT-ALIGN: justify"><U><B><FONT size=2>Contacts</FONT></B></U><B><FONT size=2>:</FONT></B></P>
</DIV>
<DIV align=left>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="85%" border=0>
<TR>
<TD vAlign=top noWrap width="2%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><FONT size=1></FONT>&nbsp;</P>
</TD>
<TD vAlign=top noWrap width="60%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><FONT size=2>Sanjeev Kumar, Vice President and CFO<br>Ghazaleh Koefod, Investor Relations<br>Energy Conversion Devices, Inc.<br>248.293.0440</FONT></P>
</TD>
<TD vAlign=top noWrap width="30%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><FONT size=2>Bruce MacDonald<br>Liebler!MacDonald<br>248.233.8062</FONT></P>
</TD></TR>
</TABLE>


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</DIV>
<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>- more -</FONT></P>

<P style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><FONT size=2>-&nbsp;4 -</FONT></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Energy Conversion Devices, Inc. and Subsidiaries</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><B><FONT size=2>Consolidated Statements of Operations</FONT></B></P>

<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><FONT size=2></FONT>&nbsp;</P>

<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="98%" align=left border=0>
<TR vAlign=bottom>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center colSpan=5><FONT face="Times New Roman, Times, Serif" size=2>Year Ended June 30 </FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center colSpan=5><FONT face="Times New Roman, Times, Serif" size=2>Quarter Ended June 30</FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center colSpan=2><FONT face="Times New Roman, Times, Serif" size=2>2006</FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center colSpan=2><FONT face="Times New Roman, Times, Serif" size=2>2005</FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center colSpan=2><FONT face="Times New Roman, Times, Serif" size=2>2006</FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center colSpan=2><FONT face="Times New Roman, Times, Serif" size=2>2005</FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center colSpan=11><FONT face="Times New Roman, Times, Serif" size=2>(in thousands, except per-share amounts)</FONT></TD>
<TD><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left width="50%"><FONT face="Times New Roman, Times, Serif" size=2>Revenues</FONT></TD>
<TD align=left width="1%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="10%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="2%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left width="1%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="10%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="2%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left width="1%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="10%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="2%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left width="1%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="12%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right width="1%"><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Product Sales</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>84,431</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>51,944</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>22,082</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>15,627</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royalties</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>4,246</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>5,332</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>1,028</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>1,586</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue from Product Development Agreements</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>10,045</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>17,653</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>2,597</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>2,962</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue from License and Other Agreements</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>1,322</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>80,784</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>538</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>538</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>2,375</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>857</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>1,684</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>195</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Total Revenue</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>102,419</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>156,570</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>27,929</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>20,908</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Expenses</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>129,640</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>113,187</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>33,849</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>28,142</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Income (Loss) from Operations</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(27,221</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>43,383</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(5,920</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(7,234</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Other Income (Expense)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Income</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>8,671</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>1,400</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>5,141</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>806</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Expense</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(197</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(776</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(235</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Loss in Joint Ventures</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(150</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(100</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distribution from Joint Venture</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>8,000</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2></FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment Loss in Rare Earth Ovonic &#150; China</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(1,710)</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Nonoperating Income (Expense)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>(13</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>90</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>10</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>13</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Total Other Income (Expense)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>8,311</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>6,904</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>5,151</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>584</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Net Income (Loss) from Continuing Operations </FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;Before IncomeTaxes and Extraordinary Item</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(18,910</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>50,287</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(769</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(6,650</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=top>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Income Taxes (Benefit)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>825</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>(1</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Net Income (Loss) from Continuing Operations </FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;Before Extraordinary Item</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(18,910</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>49,462</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(769</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(6,649</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>DISCONTINUED OPERATIONS (including gain&nbsp; </FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;on disposition of discontinued operations of&nbsp; </FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;$740 in the fiscal year ended June 30, 2006)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>314</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(1,393</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(251</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=top>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Extraordinary Item (Net of Taxes)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>2,263</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>(3</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=top>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Net Income (Loss)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(18,596</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>50,332</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(769</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(6,903</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>


<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>



<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Basic Net Income (Loss) Per Share</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continuing Operations</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.58</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>1.80</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.02</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.22</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=top>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discontinued Operations</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>.01</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.05</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.01</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extraordinary Item</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>.08</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(.57</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>1.83</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(.02</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(.23</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>

<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>Diluted Net Income (Loss) Per Share</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continuing Operations</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.58</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>1.67</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.02</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.22</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discontinued Operations</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>.01</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.05</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>(.01</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
<TR vAlign=bottom>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extraordinary Item</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT face="Times New Roman, Times, Serif" size=2>.08</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT face="Times New Roman, Times, Serif" size=2>&#150;</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(.57</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>1.70</FONT></TD>
<TD align=right><FONT face="Times New Roman, Times, Serif" size=2>&nbsp;</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(.02</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face="Times New Roman, Times, Serif" size=2>$</FONT></TD>
<TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face="Times New Roman, Times, Serif" size=2>(.23</FONT></TD>
<TD align=left><FONT face="Times New Roman, Times, Serif" size=2>)</FONT></TD></TR>
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