%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 748.5 m 561.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 744.5 m 561.5 744.5 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 18.00 Tf ET q 0 0 0 rg BT 235.55 719.40 Td (UNITED ST) Tj ET Q q 0 0 0 rg BT 330.74 719.40 Td (A) Tj ET Q q 0 0 0 rg BT 342.41 719.40 Td (TES) Tj ET Q BT /F2 18.00 Tf ET q 0 0 0 rg BT 112.70 697.85 Td (SECURITIES ) Tj ET Q q 0 0 0 rg BT 225.25 697.85 Td (AND EXCHANGE COMMISSION) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 244.15 683.40 Td (W) Tj ET Q q 0 0 0 rg BT 255.49 683.40 Td (ashington, D.C. 20549) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 672.60 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 662.15 m 453.5 662.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 157.5 630.15 m 453.5 630.15 l s BT /F2 18.00 Tf ET q 0 0 0 rg BT 256.25 636.56 Td (FORM 10-Q) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 619.80 Td () Tj ET Q /GS0 gs q 8.92 0 0 9.76 53.00 592.84 cm /I1 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.00 600.03 Td (Quarterly Report Pursuant to Section13 or 15\(d\) of the Securities Exchange Act of 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.55 578.80 Td (For) Tj ET Q q 0 0 0 rg BT 223.92 578.80 Td ( the quarterly period ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.08 578.80 Td (April30, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.36 578.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 554.80 Td (OR) Tj ET Q /GS0 gs q 8.91 0 0 9.76 53.00 527.84 cm /I2 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.00 535.03 Td (Transition Report Pursuant to Section13 or 15\(d\) of the Securities Exchange Act of 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.30 513.80 Td (For) Tj ET Q q 0 0 0 rg BT 242.67 513.80 Td ( the transition period fr) Tj ET Q q 0 0 0 rg BT 343.03 513.80 Td (omto) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.75 501.80 Td (Commission File number) Tj ET Q q 0 0 0 rg BT 344.35 501.80 Td ( 1-8777) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 113.10 448.80 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.35 448.80 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118.35 491.3 m 497.35 491.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118.35 448.3 m 497.35 448.3 l s BT /F2 22.00 Tf ET q 0 0 0 rg BT 153.85 466.85 Td (VIRCO MFG. CORPORA) Tj ET Q q 0 0 0 rg BT 404.58 466.85 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.35 452.98 Td (\(Exact Name of Registrant as Specified in its Charter\)) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 425.3 m 289.5 425.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 425.3 m 534.5 425.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 377.3 m 289.5 377.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 377.3 m 534.5 377.3 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.30 429.03 Td (Delaware) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 429.55 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.30 429.03 Td (95-1613718) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 117.85 417.38 Td (\(State or) Tj ET Q q 0 0 0 rg BT 147.25 417.38 Td ( Other) Tj ET Q q 0 0 0 rg BT 169.54 417.38 Td ( Jurisdiction of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 115.75 409.38 Td (Incorporation or) Tj ET Q q 0 0 0 rg BT 173.16 409.38 Td ( Organization\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 409.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.65 417.38 Td (\(I.R.S. Employer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.15 409.38 Td (Identification No.\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.45 381.03 Td (2027 Harpers Way, Torrance, CA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 381.55 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.00 381.03 Td (90501) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 101.10 369.38 Td (\(Address of Principal Executive Offices\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 369.25 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.90 369.38 Td (\(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.55 348.40 Td (Registrant) Tj ET Q q 0 0 0 rg BT 205.50 348.40 Td (s ) Tj ET Q q 0 0 0 rg BT 211.71 348.40 Td (T) Tj ET Q q 0 0 0 rg BT 217.46 348.40 Td (elephone Number) Tj ET Q q 0 0 0 rg BT 292.37 348.40 Td (, Including ) Tj ET Q q 0 0 0 rg BT 340.46 348.40 Td (Ar) Tj ET Q q 0 0 0 rg BT 351.93 348.40 Td (ea Code: \(310\)533-0474) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 331.05 Td (No change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 157.80 320.20 Td (Former) Tj ET Q q 0 0 0 rg BT 183.86 320.20 Td ( Name, Former) Tj ET Q q 0 0 0 rg BT 235.91 320.20 Td ( ) Tj ET Q q 0 0 0 rg BT 237.47 320.20 Td (Addr) Tj ET Q q 0 0 0 rg BT 255.55 320.20 Td (ess and Former) Tj ET Q q 0 0 0 rg BT 308.28 320.20 Td ( Fiscal ) Tj ET Q q 0 0 0 rg BT 331.98 320.20 Td (Y) Tj ET Q q 0 0 0 rg BT 336.87 320.20 Td (ear) Tj ET Q q 0 0 0 rg BT 347.24 320.20 Td (, if Changed Since Last Report.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.13 320.20 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 305.7 m 468.5 305.7 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.85 Td (Indicate by check mark whether the registrant \(1\)has filed all reports required to be filed by Section13 or 15\(d\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.45 Td (Securities Exchange ) Tj ET Q q 0 0 0 rg BT 133.31 271.45 Td (Act of 1934 during the preceding 12months \(or for such shorter period that the registrant was required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.05 Td (file such reports\), and \(2\)has been subject to such filing requirements for the past 90days.) Tj ET Q q 0 0 0 rg BT 422.30 254.05 Td (Y) Tj ET Q q 0 0 0 rg BT 428.53 254.05 Td (es) Tj ET Q /GS0 gs q 8.92 0 0 10.09 441.86 251.89 cm /I3 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.77 254.05 Td (No) Tj ET Q /GS0 gs q 8.91 0 0 10.09 477.99 251.89 cm /I4 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.65 Td (Indicate by check mark whether the registrant has submitted electronically and posted on its corporate ) Tj ET Q q 0 0 0 rg BT 460.51 236.65 Td (W) Tj ET Q q 0 0 0 rg BT 469.15 236.65 Td (eb site, if any) Tj ET Q q 0 0 0 rg BT 522.37 236.65 Td (, every ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.25 Td (Interactive Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T) Tj ET Q q 0 0 0 rg BT 438.34 219.25 Td ( during the preceding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.85 Td (12months \(or for such shorter period that the registrant was required to submit and post such files\).) Tj ET Q q 0 0 0 rg BT 457.88 201.85 Td (Y) Tj ET Q q 0 0 0 rg BT 464.10 201.85 Td (es) Tj ET Q /GS0 gs q 8.92 0 0 10.09 477.43 199.69 cm /I5 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.34 201.85 Td (No) Tj ET Q /GS0 gs q 8.91 0 0 10.09 513.56 199.69 cm /I6 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.45 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 262.23 184.45 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 337.88 184.45 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 418.53 184.45 Td (, a non-accelerated filer) Tj ET Q q 0 0 0 rg BT 512.50 184.45 Td (, or a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.05 Td (smaller reporting company) Tj ET Q q 0 0 0 rg BT 157.09 167.05 Td (. See the definitions of lar) Tj ET Q q 0 0 0 rg BT 264.66 167.05 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 340.31 167.05 Td (, accelerated filer and smaller reporting company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.65 Td (in Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 174.41 149.65 Td (Act. \(Check one\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 129.72 Td (Largeacceleratedfiler) Tj ET Q /GS0 gs q 8.91 0 0 9.76 154.00 126.89 cm /I7 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 129.72 Td (Acceleratedfiler) Tj ET Q /GS0 gs q 8.91 0 0 9.76 527.00 126.89 cm /I8 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 115.72 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 8.91 0 0 9.76 154.00 112.89 cm /I9 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 115.72 Td (\(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 115.72 Td (Smallerreportingcompany) Tj ET Q /GS0 gs q 8.92 0 0 9.76 527.00 112.89 cm /I10 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule12b-2 of the Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.85 Td (Act\).) Tj ET Q q 0 0 0 rg BT 79.90 76.85 Td (Y) Tj ET Q q 0 0 0 rg BT 86.12 76.85 Td (es) Tj ET Q /GS0 gs q 8.91 0 0 10.09 99.45 74.69 cm /I11 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.36 76.85 Td (No) Tj ET Q /GS0 gs q 8.92 0 0 10.09 135.58 74.69 cm /I12 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.45 Td (The number of shares outstanding for each of the registrant) Tj ET Q q 0 0 0 rg BT 289.64 59.45 Td (s classes of common stock, as of the latest practicable date:) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Common Stock, $.01 par value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.43 742.10 Td (14,852,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.43 742.10 Td ( shares as of June 5, 2015.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 710.6 m 561.5 710.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 706.6 m 561.5 706.6 l s BT /F1 10.00 Tf ET endstream endobj 7 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 252.65 740.68505859375 m 359.339453125 740.68505859375 l s q 0 0 0 rg BT 252.65 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 742.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 742.25 Td ( CONTENTS) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 693.9833984375 m 167.4140625 693.9833984375 l s q 0 0 0 rg BT 53.00 695.32 Td (Part I. Financial Information) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 676.9833984375 m 167.4189453125 676.9833984375 l s q 0 0 0 rg BT 53.00 678.32 Td (Item 1. Financial Statements) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 659.9833984375 m 472.35546875 659.9833984375 l s q 0 0 0 rg BT 53.00 661.32 Td (Unaudited condensed consolidated balance sheets - ) Tj ET Q q 0 0 0 rg BT 260.15 661.32 Td (April 30, 2015, January 31, 2015 and ) Tj ET Q q 0 0 0 rg BT 411.25 661.32 Td (April 30, 2014) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 642.9833984375 m 466.88671875 642.9833984375 l s q 0 0 0 rg BT 53.00 644.32 Td (Unaudited condensed consolidated statements of operations - ) Tj ET Q q 0 0 0 rg BT 300.25 644.32 Td (Three months ended ) Tj ET Q q 0 0 0 rg BT 383.84 644.32 Td (April 2015 and 2014) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 625.9833984375 m 497.98046875 625.9833984375 l s q 0 0 0 rg BT 53.00 627.32 Td (Unaudited condensed consolidated statements of comprehensive income \(loss\) - ) Tj ET Q q 0 0 0 rg BT 375.78 627.32 Td (Three months ended ) Tj ET Q q 0 0 0 rg BT 459.37 627.32 Td (April 30, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 616.0333984375 m 112.4384765625 616.0333984375 l s q 0 0 0 rg BT 53.00 617.37 Td (2015 and 2014) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 608.9833984375 m 480.40234375 608.9833984375 l s q 0 0 0 rg BT 53.00 610.32 Td (Unaudited condensed consolidated statements of cash flows -Three months ended ) Tj ET Q q 0 0 0 rg BT 382.36 610.32 Td (April 30, 2015 and 2014) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 591.9833984375 m 374.8701171875 591.9833984375 l s q 0 0 0 rg BT 53.00 593.32 Td (Notes to unaudited condensed consolidated financial statements - ) Tj ET Q q 0 0 0 rg BT 316.26 593.32 Td (April 30, 2015) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 574.9833984375 m 442.1162109375 574.9833984375 l s q 0 0 0 rg BT 53.00 576.32 Td (Item2. Management) Tj ET Q q 0 0 0 rg BT 138.81 576.32 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 207.98 576.32 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 557.9833984375 m 323.21484375 557.9833984375 l s q 0 0 0 rg BT 53.00 559.32 Td (Item3. Quantitative and Qualitative Disclosures about Market Risk) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 540.9833984375 m 182.140625 540.9833984375 l s q 0 0 0 rg BT 53.00 542.32 Td (Item4. Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 523.9833984375 m 156.30078125 523.9833984375 l s q 0 0 0 rg BT 53.00 525.32 Td (Part II. Other Information) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 506.9833984375 m 157.9658203125 506.9833984375 l s q 0 0 0 rg BT 53.00 508.32 Td (Item1. Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 489.9833984375 m 141.3251953125 489.9833984375 l s q 0 0 0 rg BT 53.00 491.32 Td (Item1A. Risk Factors) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 472.9833984375 m 478.7275390625 472.9833984375 l s q 0 0 0 rg BT 53.00 474.32 Td (Item2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 453.0833984375 m 212.9658203125 453.0833984375 l s q 0 0 0 rg BT 53.00 454.42 Td (Item3. Defaults Upon Senior Securities) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 436.0833984375 m 182.140625 436.0833984375 l s q 0 0 0 rg BT 53.00 437.42 Td (Item4. Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 419.0833984375 m 156.857421875 419.0833984375 l s q 0 0 0 rg BT 53.00 420.42 Td (Item5. Other Information) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 404.9833984375 m 117.16015625 404.9833984375 l s q 0 0 0 rg BT 53.00 406.32 Td (Item6. 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(35,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 244.52 Td (Deferred tax assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 243.62 Td (601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 243.62 Td (624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 243.62 Td (611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.52 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 228.62 Td (6,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 228.62 Td (6,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 228.62 Td (6,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 214.52 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 213.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 213.62 Td (97,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 213.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 213.62 Td (81,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 213.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 213.62 Td (97,855) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 183.45 Td (See accompanying notes.) 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compensation and employee benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 590.62 Td (4,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 590.62 Td (4,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 590.62 Td (3,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 576.52 Td (Current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 575.62 Td (14,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 575.62 Td (3,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 575.62 Td (14,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 561.52 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 560.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 560.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 560.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 546.52 Td (Other accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 545.62 Td (4,793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 545.62 Td (3,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 545.62 Td (5,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 531.52 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 530.62 Td (39,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 530.62 Td (21,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 530.62 Td (40,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 516.52 Td (Non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 501.52 Td (Accrued self-insurance retention) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 500.62 Td (2,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 500.62 Td (1,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 500.62 Td (2,539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 486.52 Td (Accrued pension expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 485.62 Td (28,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 485.62 Td (28,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 485.62 Td (23,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 471.52 Td (Income tax payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 470.62 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 470.62 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 470.62 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 456.52 Td (Long-term debt, less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 455.62 Td (6,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 455.62 Td (6,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 455.62 Td (6,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 441.52 Td (Other accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 440.62 Td (924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 440.62 Td (922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 440.62 Td (1,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 426.52 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 425.62 Td (38,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 425.62 Td (37,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 425.62 Td (33,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 411.52 Td (Commitments and contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 396.52 Td (Stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 381.52 Td (Preferred stock:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 366.52 Td (Authorized 3,000,000 shares, $.01 par value; none issued or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.52 Td (outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 354.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 354.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 354.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 340.52 Td (Common stock:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 325.52 Td (Authorized 25,000,000 shares, $.01 par value; issued and outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 315.52 Td (14,852,640 shares at 4/30/2015 and 1/30/2015 ; and 14,718,414 at) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.52 Td (4/30/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 305.62 Td (149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 305.62 Td (149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 305.62 Td (147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 291.52 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 290.62 Td (116,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 290.62 Td (116,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.15 290.62 Td (116,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.52 Td (Accumulated deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.80 275.67 Td (\(76,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 275.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 275.67 Td (\(73,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 275.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 275.67 Td (\(78,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 275.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.52 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.80 260.67 Td (\(19,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 260.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 260.67 Td (\(20,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 260.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 260.67 Td (\(13,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 260.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 246.52 Td (Total stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 245.62 Td (20,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 245.62 Td (22,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 245.62 Td (24,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 231.52 Td (Total liabilities and stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 230.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 230.62 Td (97,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 230.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 230.62 Td (81,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 230.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 230.62 Td (97,855) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 205.45 Td (See accompanying notes.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.00 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 261.85 742.25 Td (ir) Tj ET Q q 0 0 0 rg BT 268.89 742.25 Td (co Mfg. Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.65 721.25 Td (Condensed Consolidated Statements of Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 700.25 Td (Unaudited \(Note 1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 689.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 632.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 632.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 632.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 632.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 604.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 604.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 604.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 576.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 576.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 576.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 576.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 548.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 548.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 548.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 520.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 520.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 520.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 520.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 492.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 492.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 492.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 492.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 464.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 464.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 464.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 464.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 436.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 436.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 436.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 436.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 408.95 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 408.95 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 408.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 408.95 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 659.95 m 493.5 659.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 659.95 m 497.5 659.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 659.95 m 562.5 659.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 646.95 m 493.5 646.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 646.95 m 562.5 646.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 604.95 m 493.5 604.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 604.95 m 562.5 604.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 562.95 m 493.5 562.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 562.95 m 562.5 562.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 534.95 m 493.5 534.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 534.95 m 562.5 534.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 506.95 m 493.5 506.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 506.95 m 562.5 506.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 493.95 m 493.5 493.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 491.95 m 493.5 491.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 493.95 m 562.5 493.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 491.95 m 562.5 491.95 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 664.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.55 664.40 Td (Three months ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 651.20 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.25 651.18 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.25 651.18 Td (4/30/2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.80 637.18 Td (\(In thousands, except per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.52 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 623.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 623.52 Td (23,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 623.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 623.52 Td (23,383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 609.52 Td (Costs of goods sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 609.52 Td (14,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 609.52 Td (15,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 595.52 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 595.52 Td (8,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 595.52 Td (8,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 581.52 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 581.52 Td (11,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 581.52 Td (11,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 567.52 Td (Gain on sale of property, plant & equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.30 567.57 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 567.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 567.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 553.52 Td (Operating income \( loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 553.57 Td (\(2,841) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 553.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 553.57 Td (\(3,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 553.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.52 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 539.52 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 539.52 Td (329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 525.52 Td (Income \(loss\) before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 525.57 Td (\(3,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 525.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 525.57 Td (\(3,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 525.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 511.52 Td (Income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 511.52 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 511.57 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 511.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.52 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 497.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 497.57 Td (\(3,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 497.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 497.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 497.57 Td (\(3,855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 497.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.52 Td (Net income \(loss\) per common share \(a\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 455.52 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 455.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 455.57 Td (\(0.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 455.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 455.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 455.57 Td (\(0.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 455.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 441.52 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 441.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 441.57 Td (\(0.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 441.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 441.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 441.57 Td (\(0.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 441.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.52 Td (Weighted average shares outstanding \(a\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.52 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 413.52 Td (14,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 413.52 Td (14,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.52 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 399.52 Td (14,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 399.52 Td (14,718) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.45 Td (_______________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.45 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 371.45 Td (Net loss per share was calculated based on basic shares outstanding due to the anti-dilutive ef) Tj ET Q q 0 0 0 rg BT 450.32 371.45 Td (fect on the inclusion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 359.45 Td (common stock equivalent shares.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 338.45 Td (See accompanying notes.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.00 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 261.85 742.25 Td (ir) Tj ET Q q 0 0 0 rg BT 268.89 742.25 Td (co Mfg. Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.90 725.25 Td (Condensed Consolidated Statements of Compr) Tj ET Q q 0 0 0 rg BT 356.17 725.25 Td (ehensive Income \(Loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 704.25 Td (Unaudited \(Note 1\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 636.75 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 636.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 636.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 636.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 606.75 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 606.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 606.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 606.75 73.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 660.75 m 484.5 660.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 660.75 m 488.5 660.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 660.75 m 561.5 660.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 648.75 m 484.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 648.75 m 561.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 591.75 m 484.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 591.75 m 561.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 577.75 m 484.5 577.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 575.75 m 484.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 577.75 m 561.5 577.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 575.75 m 561.5 575.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 664.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.95 664.83 Td (Three months ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 652.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.25 652.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.25 652.83 Td (4/30/2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 640.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.20 640.83 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 627.32 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 626.47 Td (\(3,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 626.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 626.47 Td (\(3,855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 626.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 612.32 Td (Other comprehensive income \(loss\) :) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 597.32 Td (Pension adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 596.42 Td (495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 596.42 Td (321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 582.32 Td (Comprehensive income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 581.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 581.47 Td (\(2,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 581.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 581.47 Td (\(3,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 581.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 548.25 Td (See accompanying notes.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.00 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 261.85 742.25 Td (ir) Tj ET Q q 0 0 0 rg BT 268.89 742.25 Td (co Mfg. Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.95 721.25 Td (Condensed Consolidated Statements of Cash Flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 700.25 Td (Unaudited \(Note 1\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 651.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 651.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 651.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 651.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 623.75 378.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 623.75 65.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 623.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 623.75 65.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 586.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 586.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 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492.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 226.75 m 492.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 241.75 m 496.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 228.75 m 496.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 226.75 m 496.5 226.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 241.75 m 561.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 228.75 m 561.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 226.75 m 561.5 226.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 668.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.00 681.83 Td ( Three months ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.25 667.98 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.25 667.98 Td (4/30/2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.20 655.83 Td (\(In thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 643.15 Td (Operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 629.01 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 628.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.75 628.21 Td (\(3,178) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 628.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 628.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 628.21 Td (\(3,855) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 628.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 615.15 Td (Adjustments to reconcile net income \(loss\) to net cash provided by \(used in\) operating activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 592.01 Td (Depreciation and amortization) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 591.21 Td (1,130) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 591.21 Td (1,071) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 578.01 Td (Provision for doubtful accounts) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 577.21 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 577.21 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 564.01 Td (\(Gain\) loss on sale of property, plant and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.50 563.21 Td (\(8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 563.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 563.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 550.01 Td (Deferred income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 549.21 Td (23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 549.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 536.01 Td (Stock-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 535.21 Td (122) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 535.21 Td (133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 522.01 Td (Amortization of net actuarial \(gain\) loss for pension plans, net of tax) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 521.21 Td (495) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 521.21 Td (321) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 508.15 Td (Changes in operating assets and liabilities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 494.01 Td (Trade accounts receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 493.21 Td (801) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 493.21 Td (\(438) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 493.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 480.01 Td (Other receivables) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.50 479.21 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 479.21 Td (\(23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 479.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 466.01 Td (Inventories) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.25 465.21 Td (\(15,572) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 465.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 465.21 Td (\(13,812) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 465.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 452.01 Td (Income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 451.21 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 451.21 Td (\(46) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 451.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 438.01 Td (Prepaid expenses and other current assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.50 437.21 Td (\(840) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 437.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 437.21 Td (\(191) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 437.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 424.01 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 423.21 Td (6,973) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 423.21 Td (5,569) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 410.01 Td (Net cash provided by \(used in\) operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.25 409.21 Td (\(10,023) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 409.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 409.21 Td (\(11,251) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 409.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 396.15 Td (Investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 382.01 Td (Capital expenditures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.75 381.21 Td (\(1,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 381.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 381.21 Td (\(667) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 381.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 368.01 Td (Proceeds from sale of property, plant and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.50 367.21 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 367.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 354.01 Td (Net investment in life insurance) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 353.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 353.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 340.01 Td (Net cash provided by \(used in\) investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.75 339.21 Td (\(1,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 339.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 339.21 Td (\(667) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 339.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 326.15 Td (Financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 312.01 Td (Proceeds from long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 311.21 Td (22,300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 311.21 Td (20,586) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 298.01 Td (Repayment of long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.25 297.21 Td (\(10,975) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 297.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 297.21 Td (\(8,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 297.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 284.01 Td (Net cash provided by \(used in\) financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 283.21 Td (11,325) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 283.21 Td (12,338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 261.01 Td (Net increase \(decrease\) in cash) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 260.21 Td (110) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 260.21 Td (420) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 247.01 Td (Cash at beginning of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 246.21 Td (470) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 246.21 Td (1,051) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 233.01 Td (Cash at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 232.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 232.21 Td (580) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 232.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 232.21 Td (1,471) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (See accompanying notes.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.20 742.25 Td (VIRCO MFG. CORPORA) Tj ET Q q 0 0 0 rg BT 350.17 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.40 721.25 Td (Notes to unaudited Condensed Consolidated Financial Statements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.85 700.25 Td (April 30, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Note 1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 128.42 682.25 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (principles generally accepted in the United States for interim financial information and pursuant to the rules and regulations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (the Securities and Exchange Commission. ) Tj ET Q q 0 0 0 rg BT 220.53 640.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 269.86 640.25 Td (, they do not include all of the information and footnotes required by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (\(consisting of normal recurring accruals\) considered necessary for a fair presentation have been included. Operating results for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.98 604.25 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.58 604.25 Td (, are not necessarily indicative of the results that may be expected for the fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (ending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.72 592.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.32 592.25 Td (. ) Tj ET Q q 0 0 0 rg BT 153.13 592.25 Td (The balance sheet at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.98 592.25 Td (January31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.58 592.25 Td (, has been derived from the audited financial statements at that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (date, but does not include all of the information and footnotes required by accounting principles generally accepted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (United States for complete financial statements. For further information, refer to the consolidated financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (footnotes thereto included in the Company) Tj ET Q q 0 0 0 rg BT 223.57 556.25 Td (s ) Tj ET Q q 0 0 0 rg BT 229.41 556.25 Td (Annual Report on Form 10-K for the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.91 556.25 Td (January31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.51 556.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (\(Form10-K\). Certain reclassifications have been made to the prior year statement of operations to conform to the current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (year presentation. Reclassifications did not have a material impact to the statement of operations. ) Tj ET Q q 0 0 0 rg BT 445.43 532.25 Td (All references to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (Company refer to ) Tj ET Q q 0 0 0 rg BT 131.73 520.25 Td (V) Tj ET Q q 0 0 0 rg BT 138.35 520.25 Td (irco Mfg. Corporation and its subsidiaries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (Note 2. Corr) Tj ET Q q 0 0 0 rg BT 105.91 496.25 Td (ection of Immaterial Err) Tj ET Q q 0 0 0 rg BT 210.97 496.25 Td (ors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.25 Td (In connection with the preparation of the January 31, 2015 consolidated financial statements, the Company determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.25 Td (certain payments directly made to customers, which were previously included in selling, general, and administrative expenses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.25 Td (should instead be reflected as decreases to net sales. ) Tj ET Q q 0 0 0 rg BT 260.29 451.25 Td (The current year Condensed Consolidated Statement of Operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.25 Td (properly reflects payments directly made to customers as decreases to net sales. ) Tj ET Q q 0 0 0 rg BT 370.54 439.25 Td (While the amounts included in prior year were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.25 Td (considered to be immaterial, the Company elected to revise the presentation of previously reported amounts to be consistent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.25 Td (with the presentation for the quarter ended ) Tj ET Q q 0 0 0 rg BT 221.88 415.25 Td (April 30, 2015. ) Tj ET Q q 0 0 0 rg BT 285.31 415.25 Td (The change resulted in decreases to net sales, gross mar) Tj ET Q q 0 0 0 rg BT 507.83 415.25 Td (gin and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.25 Td (selling, general, and administrative expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.66 403.25 Td ($147,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.16 403.25 Td ( for the quarter ended ) Tj ET Q q 0 0 0 rg BT 370.18 403.25 Td (April 30, 2014. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (Note 3. Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (The market for educational furniture is marked by extreme seasonality) Tj ET Q q 0 0 0 rg BT 331.19 358.25 Td (, with approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.72 358.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.05 358.25 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 504.77 358.25 Td (s total sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (typically occurring from June to ) Tj ET Q q 0 0 0 rg BT 180.80 346.25 Td (August each year) Tj ET Q q 0 0 0 rg BT 249.81 346.25 Td (, the Company) Tj ET Q q 0 0 0 rg BT 311.20 346.25 Td (s peak season. Hence, the Company typically builds and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (carries significant amounts of inventory during and in anticipation of this peak summer season to facilitate the rapid delivery ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (requirements of customers in the educational market. ) Tj ET Q q 0 0 0 rg BT 264.75 322.25 Td (This requires a lar) Tj ET Q q 0 0 0 rg BT 337.04 322.25 Td (ge up-front investment in inventory) Tj ET Q q 0 0 0 rg BT 478.58 322.25 Td (, labor) Tj ET Q q 0 0 0 rg BT 503.73 322.25 Td (, storage and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (related costs as inventory is built in anticipation of peak sales during the summer months. ) Tj ET Q q 0 0 0 rg BT 409.93 310.25 Td (As the capital required for this build-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (up generally exceeds cash available from operations, the Company has historically relied on third-party bank financing to meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (cash flow requirements during the build-up period immediately preceding the peak season. In addition, the Company typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (is faced with a lar) Tj ET Q q 0 0 0 rg BT 120.90 274.25 Td (ge balance of accounts receivable during the peak season. ) Tj ET Q q 0 0 0 rg BT 353.95 274.25 Td (This occurs for two primary reasons. First, accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (receivable balances typically increase during the peak season as shipments of products increase. Second, many customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (during this period are government institutions, which tend to pay accounts receivable more slowly than commercial customers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 229.25 Td (s working capital requirements during and in anticipation of the peak summer season require management to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (make estimates and judgments that af) Tj ET Q q 0 0 0 rg BT 200.05 217.25 Td (fect assets, liabilities, revenues and expenses, and related contingent assets and liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (On an ongoing basis, management evaluates its estimates, including those related to market demand, labor costs, and stocking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (inventory) Tj ET Q q 0 0 0 rg BT 87.68 193.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Note 4. New ) Tj ET Q q 0 0 0 rg BT 103.32 166.25 Td (Accounting Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (In May 2014, the Financial ) Tj ET Q q 0 0 0 rg BT 160.54 148.25 Td (Accounting Standards Board \("F) Tj ET Q q 0 0 0 rg BT 290.80 148.25 Td (ASB"\) issued ) Tj ET Q q 0 0 0 rg BT 347.11 148.25 Td (Accounting Standards Update No. 2014-09,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.14 148.25 Td (Revenue ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (fr) Tj ET Q q 0 0 0 rg BT 56.30 136.25 Td (om Contracts with Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.98 136.25 Td (\("ASU 2014-09"\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.64 136.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.14 136.25 Td (an updated standard on revenue recognition) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.80 136.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 136.25 Td (This ) Tj ET Q q 0 0 0 rg BT 450.52 136.25 Td (ASU will supersede the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (revenue recognition requirements in ) Tj ET Q q 0 0 0 rg BT 196.62 124.25 Td (Accounting Standards Codification ) Tj ET Q q 0 0 0 rg BT 340.02 124.25 Td (T) Tj ET Q q 0 0 0 rg BT 345.43 124.25 Td (opic 605,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.15 124.25 Td (Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.83 124.25 Td (, and most industry-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (specific guidance. ) Tj ET Q q 0 0 0 rg BT 126.64 112.25 Td (ASU 2014-09 provides enhancements to the quality and consistency of how revenue is reported while also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (improving comparability in the financial statements of companies reporting using US GAAP) Tj ET Q q 0 0 0 rg BT 420.95 100.25 Td ( and International Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (Reporting Standards. ) Tj ET Q q 0 0 0 rg BT 139.25 88.25 Td (The core principle of the new standard is for companies to recognize revenue to depict the transfer of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (exchange for those goods or services. In doing so the Company may be required to use more judgment and make more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (estimates than under current authoritative guidance. ) Tj ET Q q 0 0 0 rg BT 259.09 52.25 Td (ASU 2014-09 will be ef) Tj ET Q q 0 0 0 rg BT 355.01 52.25 Td (fective for the Company in the first quarter of fiscal ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (2017 and may be applied on a full retrospective or modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 388.03 742.10 Td (The Company is currently evaluating the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (impact the adoption of this standard will have on its consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 706.10 Td (August2014, the F) Tj ET Q q 0 0 0 rg BT 136.21 706.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 185.11 706.10 Td (ASU No.2014-15,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.16 706.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 272.79 706.10 Td (esentation of Financial Statements-Going Concern\(Subtopic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (205-40\),Disclosur) Tj ET Q q 0 0 0 rg BT 125.18 694.10 Td (e of Uncertainties about an Entity) Tj ET Q q 0 0 0 rg BT 263.03 694.10 Td (s ) Tj ET Q q 0 0 0 rg BT 269.24 694.10 Td (Ability to Continue as a Going Concern.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.18 694.10 Td () Tj ET Q q 0 0 0 rg BT 433.50 694.10 Td (This standard sets forth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (management) Tj ET Q q 0 0 0 rg BT 103.87 682.10 Td (s responsibility to evaluate, each reporting period, whether there is substantial doubt about our ability to continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (as a going concern, and if so, to provide related footnote disclosures. ) Tj ET Q q 0 0 0 rg BT 327.24 670.10 Td (The standard is ef) Tj ET Q q 0 0 0 rg BT 398.42 670.10 Td (fective for annual and interim reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (periods ending after December15, 2016. ) Tj ET Q q 0 0 0 rg BT 218.37 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 227.01 658.10 Td (e are currently evaluating this new standard and expect it to have no impact on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (financial position and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 622.10 Td (April 2015, the F) Tj ET Q q 0 0 0 rg BT 128.42 622.10 Td (ASB issued an ) Tj ET Q q 0 0 0 rg BT 189.26 622.10 Td (Accounting Standards Update that requires reporting entities to present debt issuance costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (as a direct deduction from the face amount of that note payable presented in the balance sheet. ) Tj ET Q q 0 0 0 rg BT 429.11 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 446.60 610.10 Td (Accounting Standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Update is ef) Tj ET Q q 0 0 0 rg BT 98.13 598.10 Td (fective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 152.75 586.10 Td (A) Tj ET Q q 0 0 0 rg BT 159.42 586.10 Td ( reporting entity is required to apply the amendments in the ) Tj ET Q q 0 0 0 rg BT 398.53 586.10 Td (Accounting Standards Update ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (retrospectively to all prior periods. ) Tj ET Q q 0 0 0 rg BT 190.89 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 199.53 574.10 Td (e are currently assessing the potential impact that the adoption of the ) Tj ET Q q 0 0 0 rg BT 476.11 574.10 Td (Accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Standards Update will have on our consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (Note 5. Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Inventories primarily consist of raw materials, work in progress, and finished goods of manufactured products. In addition, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Company maintains an inventory of finished goods purchased for resale. Inventories are stated at lower of cost or market and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (consist of materials, labor) Tj ET Q q 0 0 0 rg BT 152.91 490.10 Td (, and overhead. ) Tj ET Q q 0 0 0 rg BT 216.31 490.10 Td (The Company determines the cost of inventory by the first-in, first-out method. ) Tj ET Q q 0 0 0 rg BT 536.06 490.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (value of inventory includes any related production overhead costs incurred in bringing the inventory to its present location and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 92.59 466.10 Td (The Company records the cost of excess capacity as a period expense, not as a component of capitalized inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (valuation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (Management continually monitors production costs, material costs and inventory levels to determine that interim inventories ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (are fairly stated.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (Note 6. Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Outstanding balances \(in thousands\) for the Company) Tj ET Q q 0 0 0 rg BT 268.29 382.10 Td (s long-term debt were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 322.60 300.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 322.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 322.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 322.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 322.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 322.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 292.60 300.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 292.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 292.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 292.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 292.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 292.60 68.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 352.6 m 418.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 352.6 m 490.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 352.6 m 562.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 352.6 m 418.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 352.6 m 490.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 352.6 m 562.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 307.6 m 418.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 307.6 m 490.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 307.6 m 562.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 277.6 m 418.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 277.6 m 490.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 277.6 m 562.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 263.6 m 418.5 263.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 261.6 m 418.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 263.6 m 490.5 263.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 261.6 m 490.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 263.6 m 562.5 263.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 261.6 m 562.5 261.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.75 356.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.75 356.83 Td (1/31/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.75 356.83 Td (4/30/2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.35 343.86 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 328.17 Td (Revolving credit line) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 327.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 327.27 Td (20,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 327.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 327.27 Td (9,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 327.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 327.27 Td (20,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 313.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 312.27 Td (153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 312.27 Td (153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 312.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 298.17 Td (Total debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 297.27 Td (20,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 297.27 Td (9,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 297.27 Td (20,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 283.17 Td (Less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 282.27 Td (14,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 282.27 Td (3,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 282.27 Td (14,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 268.17 Td (Non-current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 267.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 267.27 Td (6,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 267.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 267.27 Td (6,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 267.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 267.27 Td (6,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (On December22, 201) Tj ET Q q 0 0 0 rg BT 137.93 227.10 Td (1, the Company entered into a Revolving Credit and Security ) Tj ET Q q 0 0 0 rg BT 384.83 227.10 Td (Agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 481.18 227.10 Td (Agreement\) with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (PNC Bank, National ) Tj ET Q q 0 0 0 rg BT 134.44 215.10 Td (Association \(PNC\). ) Tj ET Q q 0 0 0 rg BT 226.47 215.10 Td (The credit agreement currently matures on December 22, 2017 and has a maximum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.10 Td (availability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.32 203.10 Td ($50,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.32 203.10 Td (, including sub-lines for letters of credit and equipment financing. Borrowings under the Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.10 Td (Agreement bear interest at either the ) Tj ET Q q 0 0 0 rg BT 197.71 191.10 Td (Alternate Base Rate \(as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 378.76 191.10 Td (Agreement\) plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.18 191.10 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.01 191.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.79 191.10 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.62 191.10 Td ( or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.10 Td (Eurodollar Currency Rate \(as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 254.38 179.10 Td (Agreement\) plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.30 179.10 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.13 179.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.91 179.10 Td (2.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.74 179.10 Td (. ) Tj ET Q q 0 0 0 rg BT 398.06 179.10 Td (The interest rate at ) Tj ET Q q 0 0 0 rg BT 474.69 179.10 Td (April 30, 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.10 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.33 167.10 Td (. ) Tj ET Q q 0 0 0 rg BT 67.78 167.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.82 167.10 Td ($8,407,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.82 167.10 Td ( was available for borrowing as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.39 167.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.00 167.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 94.99 149.10 Td (Agreement prohibits the Company from issuing dividends or making payments with respect to the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.10 Td (capital stock, and contains numerous other covenants, including these financial covenants: \(1\) minimum tangible net worth, \(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.10 Td (fixed char) Tj ET Q q 0 0 0 rg BT 90.07 125.10 Td (ge coverage ratio, and \(3\) minimum EBITDA) Tj ET Q q 0 0 0 rg BT 275.02 125.10 Td ( amount, in each case as of the end of the relevant monthly) Tj ET Q q 0 0 0 rg BT 509.57 125.10 Td (, quarterly or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.10 Td (annual measurement period. ) Tj ET Q q 0 0 0 rg BT 167.83 113.10 Td (The Company was in compliance with its covenants during the first quarter of 2015. Pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.10 Td (the Credit ) Tj ET Q q 0 0 0 rg BT 91.66 101.10 Td (Agreement, substantially all of the Borrowers' accounts receivable are automatically and promptly swept to repay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.10 Td (amounts outstanding under the Revolving Credit Facility upon receipt by the Borrowers. In addition, the Credit ) Tj ET Q q 0 0 0 rg BT 497.14 89.10 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (contains a clean down provision that requires the Company to reduce borrowings under the line to less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.11 77.10 Td ($6,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.11 77.10 Td ( for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.10 Td (period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.88 65.10 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.88 65.10 Td ( consecutive days each fiscal year) Tj ET Q q 0 0 0 rg BT 233.54 65.10 Td (. ) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The Company believes that the Revolving Credit Facility will provide suf) Tj ET Q q 0 0 0 rg BT 344.77 742.10 Td (ficient liquidity to meet its capital requirements for at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (least in the next 12 months. Management believes that the carrying value of debt approximated fair value at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.86 730.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.47 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (2014, as all of the long-term debt bears interest at variable rates based on prevailing market conditions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Note 7. Income ) Tj ET Q q 0 0 0 rg BT 116.47 694.10 Td (T) Tj ET Q q 0 0 0 rg BT 122.22 694.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (The Company recognizes deferred income taxes under the asset and liability method of accounting for income taxes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (accordance with the provisions of ) Tj ET Q q 0 0 0 rg BT 186.90 664.10 Td (ASC No.740, Accounting for Income ) Tj ET Q q 0 0 0 rg BT 346.14 664.10 Td (T) Tj ET Q q 0 0 0 rg BT 351.55 664.10 Td (axes. Deferred income taxes are recognized for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 652.10 Td (ferences between the financial statement and tax basis of assets and liabilities at enacted statutory tax rates in ef) Tj ET Q q 0 0 0 rg BT 507.24 652.10 Td (fect for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (years in which the dif) Tj ET Q q 0 0 0 rg BT 136.46 640.10 Td (ferences are expected to reverse. ) Tj ET Q q 0 0 0 rg BT 268.97 640.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 294.60 640.10 Td (fect on deferred taxes of a change in tax rates is recognized in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (making this assessment. ) Tj ET Q q 0 0 0 rg BT 148.70 604.10 Td (The ultimate realization of deferred tax assets is dependent upon the generation of future taxable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (income or reversal of deferred tax liabilities during the periods in which those temporary dif) Tj ET Q q 0 0 0 rg BT 418.59 592.10 Td (ferences become deductible. Based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (on this consideration, the Company determined the realization of a majority of the net deferred tax assets do not meet the more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (likely than not criteria and a valuation allowance was recorded against the majority of the net deferred tax assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.93 568.10 Td (April30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 556.10 Td (. ) Tj ET Q q 0 0 0 rg BT 74.82 556.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 100.45 556.10 Td (fective tax rate for the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.88 556.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.48 556.10 Td ( was impacted by the valuation allowance recognized against ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (state deferred tax assets and discrete items associated with non-taxable permanent dif) Tj ET Q q 0 0 0 rg BT 391.08 544.10 Td (ferences.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (The Company is currently under IRS examination for the year ended January 31, 2013. No adjustments have been proposed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (The years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.02 514.10 Td (January31, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.62 514.10 Td ( and forward remain open for examination by the IRS. ) Tj ET Q q 0 0 0 rg BT 408.60 514.10 Td (The fiscal years ended January31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (201) Tj ET Q q 0 0 0 rg BT 64.63 502.10 Td (1 and forward remain open for examination by state tax authorities. ) Tj ET Q q 0 0 0 rg BT 336.58 502.10 Td (The Company is not currently under state examination.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (During 2014, the Company completed ) Tj ET Q q 0 0 0 rg BT 205.90 484.10 Td (T) Tj ET Q q 0 0 0 rg BT 211.31 484.10 Td (exas income tax examinations of the tax years ending January 31, 2010 and 201) Tj ET Q q 0 0 0 rg BT 530.30 484.10 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 472.10 Td (. ) Tj ET Q q 0 0 0 rg BT 104.98 472.10 Td (The examination did not materially impact the Consolidated Statements of Operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (As of ) Tj ET Q q 0 0 0 rg BT 73.89 454.10 Td (April 30, 2015, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.43 454.10 Td ($45,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.93 454.10 Td ( of uncertain tax positions accrued. ) Tj ET Q q 0 0 0 rg BT 386.70 454.10 Td (The specific timing of when the resolution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (of each tax position will be reached is uncertain. ) Tj ET Q q 0 0 0 rg BT 245.49 442.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.38 442.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.99 442.10 Td (, we do not believe that there are any positions for which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (next 12months.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Note 8. Net Income \(Loss\) per) Tj ET Q q 0 0 0 rg BT 177.01 394.10 Td ( Shar) Tj ET Q q 0 0 0 rg BT 199.89 394.10 Td (e) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 332.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 332.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 332.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 302.60 312.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 302.60 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 302.60 96.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 302.60 4.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 302.60 96.00 -28.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 259.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 259.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 259.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 259.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 259.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 229.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 229.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 229.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 229.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 229.60 96.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 362.6 m 461.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 362.6 m 465.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 362.6 m 561.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 347.6 m 461.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 347.6 m 561.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 274.6 m 461.5 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 274.6 m 561.5 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 274.6 m 461.5 274.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 366.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.60 366.83 Td (Three Months Ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 351.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.75 351.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.75 351.83 Td (4/30/2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 336.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.35 336.85 Td (\(In thousands, except per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 323.17 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.80 322.32 Td (\(3,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 322.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 322.32 Td (\(3,855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 322.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 308.17 Td (Average shares outstanding \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 307.27 Td (14,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 307.27 Td (14,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 293.17 Td (Net effect of dilutive stock options based on the treasury stock method) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 283.17 Td (using average market price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 279.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 279.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 264.27 Td (Totals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 264.27 Td (14,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 264.27 Td (14,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 235.17 Td (Net income \(loss\) per share - basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 234.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.80 234.32 Td (\(0.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 234.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 234.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 234.32 Td (\(0.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 234.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 220.17 Td (Net income \(loss\) per share - diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 219.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.80 219.32 Td (\(0.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 219.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 219.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 219.32 Td (\(0.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 219.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 65.55 197.10 Td (All exercisable and non-exercisable stock options were not included in the computation of diluted net loss per share at ) Tj ET Q q 0 0 0 rg BT 540.13 197.10 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 185.10 Td (30, 2015 and 2014, because their inclusion would have been anti-dilutive. ) Tj ET Q q 0 0 0 rg BT 347.52 185.10 Td (The number of stock options outstanding, which met ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 173.10 Td (this anti-dilutive criterion for the three months ended ) Tj ET Q q 0 0 0 rg BT 263.83 173.10 Td (April 30, 2015 and 2014, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.93 173.10 Td (233,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.43 173.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.87 173.10 Td (266,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.37 173.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 522.03 173.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 149.10 Td (Note 9. Stock-Based Compensation and Stockholders) Tj ET Q q 0 0 0 rg BT 278.72 149.10 Td ( Rights) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (Stock Incentive Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.10 Td (The Company's two stock plans are the 201) Tj ET Q q 0 0 0 rg BT 223.90 113.10 Td (1 Employee Stock Incentive Plan \(the 201) Tj ET Q q 0 0 0 rg BT 396.81 113.10 Td (1 Plan\) and the 2007 Employee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.10 Td (Incentive Stock Plan \(the 2007 Plan\). Under the 201) Tj ET Q q 0 0 0 rg BT 267.63 101.10 Td (1 Plan, the Company may grant an aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.90 101.10 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.90 101.10 Td ( shares to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.10 Td (its employees and non-employee directors in the form of stock options or awards. Restricted stock or stock units awarded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (under the 201) Tj ET Q q 0 0 0 rg BT 104.61 77.10 Td (1 Plan are expensed ratably over the vesting period of the awards. ) Tj ET Q q 0 0 0 rg BT 370.18 77.10 Td (The Company determines the fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.10 Td (its restricted stock unit awards and related compensation expense as the dif) Tj ET Q q 0 0 0 rg BT 350.00 65.10 Td (ference between the market value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.10 Td (awards on the date of grant less the exercise price of the awards granted. ) Tj ET Q q 0 0 0 rg BT 344.70 53.10 Td (The Company granted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.12 53.10 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.12 53.10 Td ( awards under the 201) Tj ET Q q 0 0 0 rg BT 532.05 53.10 Td (1 ) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Plan during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.24 742.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.85 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 235.80 742.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.69 742.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.30 742.10 Td (, there were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.97 742.10 Td (878,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.47 742.10 Td ( shares available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (for future issuance under the 201) Tj ET Q q 0 0 0 rg BT 181.53 730.10 Td (1 Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (Under the 2007 Plan, the Company may grant an aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.48 712.10 Td (1,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.48 712.10 Td ( shares to its employees and non-employee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (directors in the form of stock options or awards. Restricted stock or stock units awarded under the 2007 Plan are expensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (ratably over the vesting period of the awards. ) Tj ET Q q 0 0 0 rg BT 233.37 688.10 Td (The Company determines the fair value of its restricted stock unit awards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (and related compensation expense as the dif) Tj ET Q q 0 0 0 rg BT 225.86 676.10 Td (ference between the market value of the awards on the date of grant less the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (exercise price of the awards granted. ) Tj ET Q q 0 0 0 rg BT 198.91 664.10 Td (The Company granted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.83 664.10 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.83 664.10 Td ( awards under the 2007 Plan during 2014 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.96 664.10 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.96 664.10 Td ( awards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (under the 2007 Plan during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.73 652.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.34 652.10 Td (. ) Tj ET Q q 0 0 0 rg BT 298.29 652.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.18 652.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.79 652.10 Td (, there were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.46 652.10 Td (13,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.96 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (shares available for future issuance under the 2007 Plan.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Accounting for) Tj ET Q q 0 0 0 rg BT 113.98 622.10 Td ( the Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (Restricted Stock Unit ) Tj ET Q q 0 0 0 rg BT 143.60 604.10 Td (A) Tj ET Q q 0 0 0 rg BT 150.08 604.10 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The following table presents a summary of restricted stock and stock unit awards at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.02 586.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.63 586.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.07 586.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.07 586.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 516.60 190.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 516.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 516.60 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 516.60 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 516.60 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 516.60 43.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 516.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 516.60 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 516.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 516.60 83.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 479.60 190.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 479.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 479.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 479.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 479.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 479.60 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 479.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 479.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 479.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 479.60 83.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.60 190.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 451.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 451.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 451.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 451.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 451.60 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 451.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 451.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 451.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 451.60 83.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.60 190.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 423.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 423.60 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 423.60 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 423.60 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 423.60 43.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 423.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 423.60 45.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 423.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 423.60 83.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 386.60 190.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 386.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 386.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 386.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 386.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 386.60 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 386.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 386.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 386.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 386.60 83.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 540.6 m 404.5 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 540.6 m 408.5 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 540.6 m 453.5 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 540.6 m 540.5 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 516.6 m 240.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 516.6 m 300.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 516.6 m 361.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 516.6 m 404.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 516.6 m 453.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 516.6 m 457.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 516.6 m 540.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 386.6 m 404.5 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 386.6 m 453.5 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 386.6 m 540.5 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 373.6 m 404.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 371.6 m 404.5 371.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 373.6 m 453.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 371.6 m 453.5 371.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 373.6 m 540.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 371.6 m 540.5 371.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 544.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.05 552.83 Td (Expense for 3 months) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.75 544.83 Td (ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.00 560.83 Td (Unr) Tj ET Q q 0 0 0 rg BT 488.63 560.83 Td (ecognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.80 552.83 Td (Compensation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 544.83 Td (Cost at) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 521.05 Td (Date of Grants) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 261.70 530.05 Td (Units) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 255.75 521.05 Td (Granted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.00 530.05 Td (Terms of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.90 521.05 Td (Vesting) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.25 520.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.25 520.83 Td (4/30/2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.25 520.83 Td (4/30/2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 498.05 Td (2011 Stock Incentive Plan) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 484.06 Td (6/24/2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 259.60 484.06 Td (28,626) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.85 484.06 Td (1 year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 484.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.25 484.06 Td (19,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 484.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 484.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.00 484.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 516.75 484.06 Td (6,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 470.06 Td (6/24/2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.35 470.06 Td (490,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.10 470.06 Td (5 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.25 470.06 Td (64,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.00 470.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 470.06 Td (1,044,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 456.06 Td (12/3/2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 259.60 456.06 Td (10,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.85 456.06 Td (1 year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.00 456.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.75 456.06 Td (9,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 456.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 442.06 Td (6/25/2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 259.60 442.06 Td (71,430) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.85 442.06 Td (1 year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.00 442.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.25 442.06 Td (37,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 442.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 428.06 Td (6/19/2012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.35 428.06 Td (520,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.10 428.06 Td (5 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.25 428.06 Td (39,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.25 428.06 Td (40,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 428.06 Td (327,000) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 405.05 Td (2007 Stock Incentive Plan) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 391.06 Td (6/16/2009) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.35 391.06 Td (382,500) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.10 391.06 Td (5 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.00 391.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.25 391.06 Td (47,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 391.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 377.86 Td (Totals for the period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.00 377.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.75 377.06 Td (122,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 377.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.75 377.06 Td (133,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.00 377.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 377.06 Td (1,377,000) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (Note 10. Stockholders) Tj ET Q q 0 0 0 rg BT 145.64 349.10 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.81 331.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.41 331.10 Td (, the Company did not repurchase any shares of its common stock. ) Tj ET Q q 0 0 0 rg BT 502.14 331.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.61 319.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.61 319.10 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.50 319.10 Td ( remained available for repurchases of the Company) Tj ET Q q 0 0 0 rg BT 374.36 319.10 Td (s common stock pursuant to the Company) Tj ET Q q 0 0 0 rg BT 545.45 319.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (repurchase program approved by the Board of Directors, subject to restriction under the Company's Credit ) Tj ET Q q 0 0 0 rg BT 477.24 307.10 Td (Agreement with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (PNC. Pursuant to the Company) Tj ET Q q 0 0 0 rg BT 181.11 295.10 Td (s Credit ) Tj ET Q q 0 0 0 rg BT 214.45 295.10 Td (Agreement with PNC, the Company is prohibited from repurchasing any shares of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (stock except in cases where a repurchase is financed by a substantially concurrent issuance of new shares of the Company) Tj ET Q q 0 0 0 rg BT 540.66 283.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (common stock.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (Note 1) Tj ET Q q 0 0 0 rg BT 76.94 247.10 Td (1. Retir) Tj ET Q q 0 0 0 rg BT 108.96 247.10 Td (ement Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (The Company and its subsidiaries cover employees under a noncontributory defined benefit retirement plan, entitled the ) Tj ET Q q 0 0 0 rg BT 532.73 229.10 Td (V) Tj ET Q q 0 0 0 rg BT 539.35 229.10 Td (irco ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (Employees) Tj ET Q q 0 0 0 rg BT 97.02 217.10 Td ( Retirement Plan \(the Pension Plan\). Benefits under the Employees Retirement Plan are based on years of service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (and career average earnings. ) Tj ET Q q 0 0 0 rg BT 165.76 205.10 Td (As more fully described in the Form 10-K, benefit accruals under the Employees Retirement Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (were frozen ef) Tj ET Q q 0 0 0 rg BT 107.55 193.10 Td (fective December31, 2003.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (The Company also provides a supplementary retirement plan for certain key employees, the ) Tj ET Q q 0 0 0 rg BT 419.70 175.10 Td (VIP) Tj ET Q q 0 0 0 rg BT 435.44 175.10 Td ( Retirement Plan \(the VIP) Tj ET Q q 0 0 0 rg BT 543.37 175.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (Plan\). ) Tj ET Q q 0 0 0 rg BT 80.37 163.10 Td (The ) Tj ET Q q 0 0 0 rg BT 98.23 163.10 Td (VIP) Tj ET Q q 0 0 0 rg BT 113.97 163.10 Td ( Plan provides a benefit of up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.50 163.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.83 163.10 Td ( of average compensation for the last ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.55 163.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.55 163.10 Td ( years in the ) Tj ET Q q 0 0 0 rg BT 471.46 163.10 Td (VIP) Tj ET Q q 0 0 0 rg BT 487.21 163.10 Td ( Plan, of) Tj ET Q q 0 0 0 rg BT 520.63 163.10 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (benefits earned under the Pension Plan. ) Tj ET Q q 0 0 0 rg BT 209.68 151.10 Td (As more fully described in the Form 10-K, benefit accruals under this plan were frozen ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 139.10 Td (fective December31, 2003.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (The Company also provides a non-qualified plan for certain former non-employee directors of the Company \(the Non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (Employee Directors Retirement Plan\). ) Tj ET Q q 0 0 0 rg BT 210.04 109.10 Td (The Non-Employee Directors Retirement Plan provides a lifetime annual retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (benefit equal to the director) Tj ET Q q 0 0 0 rg BT 160.88 97.10 Td () Tj ET Q q 0 0 0 rg BT 163.66 97.10 Td (s annual retainer fee for the fiscal year in which the director terminated his or her position with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (Board, subject to the director having provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.62 85.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.62 85.10 Td ( years of service to the Company) Tj ET Q q 0 0 0 rg BT 377.59 85.10 Td (. ) Tj ET Q q 0 0 0 rg BT 382.04 85.10 Td (As more fully described in the Form 10-K, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (benefit accruals under this plan were frozen ef) Tj ET Q q 0 0 0 rg BT 235.00 73.10 Td (fective December31, 2003.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The net periodic pension cost \(income\)for the Pension Plan, the ) Tj ET Q q 0 0 0 rg BT 309.20 742.10 Td (VIP) Tj ET Q q 0 0 0 rg BT 324.94 742.10 Td ( Plan, and the Non-Employee Directors Retirement Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.14 730.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.74 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.18 730.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.18 730.10 Td ( were as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 646.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 646.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 646.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 646.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 646.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 646.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 646.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 646.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 646.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 646.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 646.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 646.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 620.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 620.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 620.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 620.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 620.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 620.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 620.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 620.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 620.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 620.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 620.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 620.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 594.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 594.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 594.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 594.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 594.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 594.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 594.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 594.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 594.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 594.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 594.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 594.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 568.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 568.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 568.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 568.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 568.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 568.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 568.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 568.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 568.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 568.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 568.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 568.60 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 680.6 m 267.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 680.6 m 271.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 680.6 m 326.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 680.6 m 330.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 680.6 m 385.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 680.6 m 389.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 680.6 m 444.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 680.6 m 448.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 680.6 m 503.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 680.6 m 507.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 680.6 m 562.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 659.6 m 267.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 659.6 m 271.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 659.6 m 326.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 659.6 m 385.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 659.6 m 389.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 659.6 m 444.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 659.6 m 503.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 659.6 m 507.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 659.6 m 562.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 659.6 m 267.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 646.6 m 267.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 659.6 m 326.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 646.6 m 326.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 659.6 m 385.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 646.6 m 385.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 659.6 m 444.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 646.6 m 444.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 659.6 m 503.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 646.6 m 503.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 659.6 m 562.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 646.6 m 562.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 555.6 m 267.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 543.6 m 267.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 541.6 m 267.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 555.6 m 326.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 543.6 m 326.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 541.6 m 326.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 555.6 m 385.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 543.6 m 385.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 541.6 m 385.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 555.6 m 444.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 543.6 m 444.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 541.6 m 444.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 555.6 m 503.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 543.6 m 503.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 541.6 m 503.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 555.6 m 562.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 543.6 m 562.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 541.6 m 562.5 541.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.60 687.68 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 672.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.85 663.83 Td (Pension Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.55 663.83 Td (VIP Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.75 671.83 Td (Non-Employee Directors) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.95 663.83 Td (Retirement Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.25 650.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.25 650.83 Td (4/30/2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.25 650.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.25 650.83 Td (4/30/2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.25 650.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.25 650.83 Td (4/30/2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 638.55 Td (Service cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 637.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.30 637.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.00 637.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.30 637.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.00 637.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.30 637.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 637.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 637.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 637.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.65 637.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.00 637.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 637.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 625.55 Td (Interest cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.30 624.85 Td (324) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.30 624.85 Td (315) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 624.85 Td (105) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 624.85 Td (88) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.65 624.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 624.85 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 612.55 Td (Expected return on plan assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.60 611.85 Td (\(324) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.30 611.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.60 611.85 Td (\(275) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.30 611.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.30 611.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 611.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.65 611.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 611.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 599.55 Td (Amortization of transition amount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.30 598.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.30 598.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.30 598.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 598.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.65 598.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 598.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 586.55 Td (Recognized \(gain\) loss due to curtailments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.30 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.30 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.30 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.65 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 573.55 Td (Amortization of prior service cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.30 572.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.30 572.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.30 572.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 572.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 572.17 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 572.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 560.55 Td (Recognized net actuarial \(gain\) loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.30 559.85 Td (375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.30 559.85 Td (284) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 559.85 Td (120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.30 559.85 Td (45) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.65 559.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.60 559.85 Td (\(8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 559.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 547.55 Td (Benefit cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 546.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.30 546.85 Td (375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.00 546.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.30 546.85 Td (324) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.00 546.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.30 546.85 Td (225) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 546.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.30 546.85 Td (133) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 546.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.65 546.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.00 546.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.60 546.85 Td (\(4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 546.85 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 519.10 Td (Note 12. ) Tj ET Q q 0 0 0 rg BT 87.31 519.10 Td (W) Tj ET Q q 0 0 0 rg BT 96.76 519.10 Td (arranty ) Tj ET Q q 0 0 0 rg BT 131.47 519.10 Td (Accrual) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.10 Td (The Company provides a warranty against all substantial defects in material and workmanship. In 2005 the Company extended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (its standard warranty from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.30 489.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.85 489.10 Td ( years to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.22 489.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.22 489.10 Td (years. Ef) Tj ET Q q 0 0 0 rg BT 260.58 489.10 Td (fective February 1, 2014 the Company modified its warranty to a limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (lifetime warranty) Tj ET Q q 0 0 0 rg BT 118.49 477.10 Td (. ) Tj ET Q q 0 0 0 rg BT 123.31 477.10 Td (The new warranty ef) Tj ET Q q 0 0 0 rg BT 206.14 477.10 Td (fective February 1, 2014 is not anticipated to have a significant ef) Tj ET Q q 0 0 0 rg BT 468.65 477.10 Td (fect on warranty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 87.03 465.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 146.74 465.10 Td (s warranty is not a guarantee of service life, which depends upon events outside the Company) Tj ET Q q 0 0 0 rg BT 524.41 465.10 Td (s control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.10 Td (and may be dif) Tj ET Q q 0 0 0 rg BT 109.52 453.10 Td (ferent from the warranty period. ) Tj ET Q q 0 0 0 rg BT 240.40 453.10 Td (The Company accrues an estimate of its exposure to warranty claims based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (upon both product sales data and an analysis of actual warranty claims incurred. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (The following is a summary of the Company) Tj ET Q q 0 0 0 rg BT 232.47 423.10 Td (s warranty-claim activity for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.07 423.10 Td (April30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.68 423.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.11 423.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.11 423.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 365.60 332.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 365.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 365.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 365.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 335.60 332.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 335.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 335.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 335.60 86.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 393.6 m 472.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 393.6 m 476.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 393.6 m 562.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 380.6 m 472.5 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 380.6 m 562.5 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 320.6 m 472.5 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 306.6 m 472.5 306.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 304.6 m 472.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 320.6 m 562.5 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 306.6 m 562.5 306.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 304.6 m 562.5 304.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 397.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 435.60 397.83 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.75 384.83 Td (4/30/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.75 384.83 Td (4/30/2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.00 372.55 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.17 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 355.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 355.27 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 355.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 355.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 341.17 Td (Provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 340.27 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 340.27 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.17 Td (Costs incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 325.32 Td (\(83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 325.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 325.32 Td (\(135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 325.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 311.17 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 310.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 310.27 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 310.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 310.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (Note 13. Subsequent Events) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 264.10 Td (e have evaluated subsequent events to assess the need for potential recognition or disclosure in this Quarterly Report on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (Form10-Q. Such events were evaluated through the date these financial statements were issued. Based upon this evaluation, it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (was determined that, no subsequent events occurred that required recognition or disclosure in the financial statements.) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item 2. Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 213.34 742.25 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (For the three months ended ) Tj ET Q q 0 0 0 rg BT 161.37 700.25 Td (April30, 2015, the Company incurred a pre-tax loss of $3,139,000 on net sales of $23,048,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (compared to a pre-tax loss of $3,874,000 on net sales of $23,383,000 in the same period last year) Tj ET Q q 0 0 0 rg BT 437.96 688.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Net sales for the three months ended ) Tj ET Q q 0 0 0 rg BT 198.01 670.25 Td (April30, 2015 decreased by $335,000, a 1.4% decrease, compared to the same period last ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (year) Tj ET Q q 0 0 0 rg BT 66.66 658.25 Td (. ) Tj ET Q q 0 0 0 rg BT 73.97 658.25 Td (This decrease was the result of an increase in selling prices of approximately $1.0 million of) Tj ET Q q 0 0 0 rg BT 443.13 658.25 Td (fset by a reduction in unit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (volume. ) Tj ET Q q 0 0 0 rg BT 87.31 646.25 Td (The Company began the quarter ended ) Tj ET Q q 0 0 0 rg BT 244.48 646.25 Td (April 30, 2015 with a backlog that was approximately $1.6 million less than at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (the start of the first quarter last year) Tj ET Q q 0 0 0 rg BT 192.45 634.25 Td (. Unit volume for the quarter was adversely impacted by severe weather in parts of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (country in February and by and reductions in bond funded new school construction completions. Backlog at ) Tj ET Q q 0 0 0 rg BT 486.58 622.25 Td (April30, 2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (increased by approximately 1.9% to $23,855,000 compared to $23,407,000 at ) Tj ET Q q 0 0 0 rg BT 362.99 610.25 Td (April30, 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (As discussed more fully in the Form 10-K for the fiscal year ended January31, 2015 \(Form 10-K\), the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (implemented a variety of cost saving initiatives in prior years that have reduced the number of full time employees, among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (other cost savings. ) Tj ET Q q 0 0 0 rg BT 128.97 568.25 Td (This reduced cost structure has helped the Company reduce operating losses during the seasonally slower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (first quarter) Tj ET Q q 0 0 0 rg BT 96.37 556.25 Td (. ) Tj ET Q q 0 0 0 rg BT 103.69 556.25 Td (The reduction in headcount was concentrated in manufacturing, and included both direct labor and indirect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (positions. ) Tj ET Q q 0 0 0 rg BT 93.44 544.25 Td (The Company has aggressively shifted to temporary workers to meet the seasonal demand for production and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (distribution.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Order rates for the first quarter of 2015 were 4.9% higher than the first quarter of last year) Tj ET Q q 0 0 0 rg BT 409.86 514.25 Td (. ) Tj ET Q q 0 0 0 rg BT 417.18 514.25 Td (While this increase is welcome, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (month by month trends continue to be volatile. Order rates for February 2015 were 38% lower than the prior year because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (severe weather conditions closed schools in many parts of the country) Tj ET Q q 0 0 0 rg BT 329.27 490.25 Td (. Order rates in March and ) Tj ET Q q 0 0 0 rg BT 439.23 490.25 Td (April of 2015 were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (significantly higher than last year) Tj ET Q q 0 0 0 rg BT 183.45 478.25 Td (, resulting in an overall improvement for the quarter) Tj ET Q q 0 0 0 rg BT 390.88 478.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 91.20 460.25 Td (gin in the first quarter increased on slightly lower revenues to $8,194,000 from $8,030,000 in the prior year) Tj ET Q q 0 0 0 rg BT 520.27 460.25 Td (. Gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 448.25 Td (gin as a percentage of sales increased to 35.6% for the three months ended ) Tj ET Q q 0 0 0 rg BT 364.98 448.25 Td (April30, 2015 compared to 34.3% in the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (period last year) Tj ET Q q 0 0 0 rg BT 111.09 436.25 Td (. ) Tj ET Q q 0 0 0 rg BT 118.41 436.25 Td (The improvement in gross mar) Tj ET Q q 0 0 0 rg BT 241.53 436.25 Td (gin was attributable to a slight increase in selling prices and a reduction in raw ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (material costs during the same period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Selling, general and administrative expenses for the three months ended ) Tj ET Q q 0 0 0 rg BT 339.64 406.25 Td (April30, 2015, decreased by approximately $532,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (compared to the same period last year) Tj ET Q q 0 0 0 rg BT 201.21 394.25 Td (, and decreased as a percentage of sales by 1.6%. ) Tj ET Q q 0 0 0 rg BT 402.05 394.25 Td (The first quarter of 2014 included non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (recurring legal expenses and the cost of a sales program that terminated in 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (In the first quarter of 2015 the Company did not record a significant income tax expense. During the fourth quarter of 201) Tj ET Q q 0 0 0 rg BT 539.77 364.25 Td (1 the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (Company established a valuation allowance on the majority of deferred tax assets. Because of this valuation allowance, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 340.25 Td (fective income tax expense / \(benefit\)is expected to be relatively low) Tj ET Q q 0 0 0 rg BT 334.88 340.25 Td (, with income tax expense / \(benefit\)being primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (attributable to alternative minimum taxes combined with income and franchise taxes required by various states. Interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (expense was slightly less for the three months ended ) Tj ET Q q 0 0 0 rg BT 261.90 316.25 Td (April30, 2015 compared to the same period last year as a result of lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (borrowings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 280.25 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (Accounts receivable were higher at ) Tj ET Q q 0 0 0 rg BT 192.99 262.25 Td (April30, 2015 than at ) Tj ET Q q 0 0 0 rg BT 282.98 262.25 Td (April30, 2014 due to the timing of sales during the quarter) Tj ET Q q 0 0 0 rg BT 518.49 262.25 Td (. Sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (were lower in February but higher during March and ) Tj ET Q q 0 0 0 rg BT 262.99 250.25 Td (April. ) Tj ET Q q 0 0 0 rg BT 288.92 250.25 Td (The Company traditionally builds lar) Tj ET Q q 0 0 0 rg BT 437.05 250.25 Td (ge quantities of inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (during the first quarter of each fiscal year in anticipation of seasonally high summer shipments. ) Tj ET Q q 0 0 0 rg BT 436.10 238.25 Td (The Company started the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (current fiscal year with nearly $1,100,000 less inventory than in the prior year) Tj ET Q q 0 0 0 rg BT 361.57 226.25 Td (. During the quarter) Tj ET Q q 0 0 0 rg BT 442.53 226.25 Td (, the Company increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (inventory by approximately $15,572,000 compared to January31, 2015. ) Tj ET Q q 0 0 0 rg BT 344.20 214.25 Td (This increase was approximately $1,760,000 greater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (than the increase in 2014, in anticipation of a compressed peak season delivery cycle. ) Tj ET Q q 0 0 0 rg BT 396.64 202.25 Td (The increase in inventory during the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (quarter of 2015 was financed through the Company's credit facility with PNC Bank, National ) Tj ET Q q 0 0 0 rg BT 425.33 190.25 Td (Association \("PNC"\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (Borrowing under the Company's revolving line of credit with PNC at ) Tj ET Q q 0 0 0 rg BT 328.71 172.25 Td (April30, 2015 was comparable to last year) Tj ET Q q 0 0 0 rg BT 500.33 172.25 Td (. ) Tj ET Q q 0 0 0 rg BT 507.65 172.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (Company established a goal of limiting capital spending to less than the Company's anticipated depreciation expense. Capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (spending for the three months ended ) Tj ET Q q 0 0 0 rg BT 197.74 148.25 Td (April30, 2015 was $1,200,000 compared to $667,000 for the same period last year) Tj ET Q q 0 0 0 rg BT 529.62 148.25 Td (. ) Tj ET Q q 0 0 0 rg BT 536.94 148.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (increase was primarily due to timing of expenditures. ) Tj ET Q q 0 0 0 rg BT 268.09 136.25 Td (The increases in capital expenditures were for enhancements to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 124.25 Td (s ERP) Tj ET Q q 0 0 0 rg BT 116.03 124.25 Td ( system and for the purchase of equipment at the expiration of their operating leases during the quarter) Tj ET Q q 0 0 0 rg BT 525.06 124.25 Td (. Capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (expenditures are being financed through the Company's credit facility with PNC and operating cash flow) Tj ET Q q 0 0 0 rg BT 468.81 112.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (Net cash used in operating activities for the three months ended ) Tj ET Q q 0 0 0 rg BT 306.31 94.25 Td (April30, 2015, was $10,023,000 compared to $1) Tj ET Q q 0 0 0 rg BT 502.30 94.25 Td (1,251,000 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (the same period last year) Tj ET Q q 0 0 0 rg BT 148.85 82.25 Td (. ) Tj ET Q q 0 0 0 rg BT 156.17 82.25 Td (The decrease in cash used was primarily attributable to an improvement in operating results, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (collection of receivables, and an increase in the growth of accounts payable and accrued liabilities relating to the building of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (inventory) Tj ET Q q 0 0 0 rg BT 87.68 58.25 Td (.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The Company believes that cash flows from operations, together with the Company's unused borrowing capacity under its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (revolving line of credit with PNC will be suf) Tj ET Q q 0 0 0 rg BT 228.68 730.10 Td (ficient to fund the Company's debt service requirements, capital expenditures and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (working capital needs for at least the next twelve months. ) Tj ET Q q 0 0 0 rg BT 282.44 718.10 Td (Approximately $8,407,000 was available for borrowing as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (April30, 2015.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Off Balance Sheet ) Tj ET Q q 0 0 0 rg BT 128.60 682.10 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (Critical ) Tj ET Q q 0 0 0 rg BT 84.71 640.10 Td (Accounting Policies and Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (The Company's critical accounting policies are outlined in its Form 10-K. ) Tj ET Q q 0 0 0 rg BT 347.11 622.10 Td (There have been no changes in the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (April 30, 2015.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (From time to time, including in this Quarterly Report on Form 10-Q for the quarterly period ended ) Tj ET Q q 0 0 0 rg BT 446.59 568.10 Td (April30, 2015, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (Company or its representatives have made and may make forward-looking statements, orally or in writing, including those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (contained herein. Such forward-looking statements may be included in, without limitation, reports to stockholders, press ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (releases, oral statements made with the approval of an authorized executive of) Tj ET Q q 0 0 0 rg BT 362.47 532.10 Td (ficer of the Company and filings with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (Securities and Exchange Commission. ) Tj ET Q q 0 0 0 rg BT 206.18 520.10 Td (The words or phrases anticipates, expects, will continue, believes, estimates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (projects, or similar expressions are intended to identify forward-looking statements within the meaning of the Private ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (Securities Litigation Reform ) Tj ET Q q 0 0 0 rg BT 166.37 496.10 Td (Act of 1995. ) Tj ET Q q 0 0 0 rg BT 218.96 496.10 Td (The results contemplated by the Company's forward-looking statements are subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (to certain risks and uncertainties that could cause actual results to vary materially from anticipated results, including without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (limitation, availability of funding for educational institutions, availability and cost of materials, especially steel, availability and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (cost of labor) Tj ET Q q 0 0 0 rg BT 99.58 460.10 Td (, demand for the Company's products, competitive conditions af) Tj ET Q q 0 0 0 rg BT 355.60 460.10 Td (fecting selling prices and mar) Tj ET Q q 0 0 0 rg BT 473.71 460.10 Td (gins, capital costs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (general economic conditions. Such risks and uncertainties are discussed in more detail in the Company's Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (The Company's forward-looking statements represent its judgment only on the dates such statements were made. By making ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (any forward-looking statements, the Company assumes no duty to update them to reflect new) Tj ET Q q 0 0 0 rg BT 423.15 418.10 Td (, changed or unanticipated events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (or circumstances.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Item3. Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 247.59 382.10 Td (es about Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (Item4. Contr) Tj ET Q q 0 0 0 rg BT 107.86 340.10 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 151.02 340.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 180.28 340.10 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 89.82 322.10 Td (e Contr) Tj ET Q q 0 0 0 rg BT 122.13 322.10 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 165.29 322.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 194.55 322.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (The Company carried out an evaluation, under the supervision and with the participation of the Company's management, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (including its Principal Executive Of) Tj ET Q q 0 0 0 rg BT 193.68 292.10 Td (ficer along with its Principal Financial Of) Tj ET Q q 0 0 0 rg BT 360.12 292.10 Td (ficer) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.44 292.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.94 292.10 Td ( of the ef) Tj ET Q q 0 0 0 rg BT 416.57 292.10 Td (fectiveness of the design and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (operation of disclosure controls and procedures. Based upon the foregoing, the Company's Principal Executive Of) Tj ET Q q 0 0 0 rg BT 505.95 280.10 Td (ficer along ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (with the Company's Principal Financial Of) Tj ET Q q 0 0 0 rg BT 220.76 268.10 Td (ficer concluded that the Company's disclosure controls and procedures \(as such term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (is defined in Rules 13a-15\(e\) and 15d-15\(e\) under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 350.74 256.10 Td (Act of 1934, as amended\) were ef) Tj ET Q q 0 0 0 rg BT 485.78 256.10 Td (fective as of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (end of the period covered by this Quarterly Report on Form 10-Q.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 162.89 226.10 Td (ol Over) Tj ET Q q 0 0 0 rg BT 194.64 226.10 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (There was no change in the Company's internal control over financial reporting during the first fiscal quarter of 2015 that has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (materially af) Tj ET Q q 0 0 0 rg BT 100.63 196.10 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 282.04 196.10 Td (fect, the Company's internal control over financial reporting.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.30 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 245.67 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 259.76 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 266.25 742.25 Td ( II Other) Tj ET Q q 0 0 0 rg BT 316.90 742.25 Td ( Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.00 718.25 Td (V) Tj ET Q q 0 0 0 rg BT 261.85 718.25 Td (ir) Tj ET Q q 0 0 0 rg BT 268.89 718.25 Td (co Mfg. Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 680.75 Td (Item1. Legal Pr) Tj ET Q q 0 0 0 rg BT 119.24 680.75 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.75 Td (The Company has various legal actions pending against it arising in the ordinary course of business, which in the opinion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 644.75 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 644.75 Td (, are not material in that management either expects that the Company will be successful on the merits of the pending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.75 Td (cases or that any liabilities resulting from such cases will be substantially covered by insurance. ) Tj ET Q q 0 0 0 rg BT 437.77 632.75 Td (While it is impossible to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 620.75 Td (estimate with certainty the ultimate legal and financial liability with respect to these suits and claims, management believes that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 608.75 Td (the aggregate amount of such liabilities will not be material to the results of operations, financial position, or cash flows of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.75 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 596.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 578.75 Td (Item1A. Risk Factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.75 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 536.75 Td (Item2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 536.75 Td (Unr) Tj ET Q q 0 0 0 rg BT 99.53 536.75 Td (egister) Tj ET Q q 0 0 0 rg BT 127.67 536.75 Td (ed Sales of Equity Securities, Use of Pr) Tj ET Q q 0 0 0 rg BT 292.47 536.75 Td (oceeds and Issuer) Tj ET Q q 0 0 0 rg BT 367.29 536.75 Td ( Pur) Tj ET Q q 0 0 0 rg BT 385.72 536.75 Td (chases of Equity Securities) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.75 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 494.75 Td (Item3. Defaults Upon Senior) Tj ET Q q 0 0 0 rg BT 173.98 494.75 Td ( Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.75 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 452.75 Td (Item4. Mine Safety Disclosur) Tj ET Q q 0 0 0 rg BT 176.19 452.75 Td (es ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.75 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 410.75 Td (Item5. Other) Tj ET Q q 0 0 0 rg BT 107.86 410.75 Td ( Information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.75 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 368.75 Td (Item6. Exhibits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.75 Td (Exhibit31.1 Certification of Robert ) Tj ET Q q 0 0 0 rg BT 207.48 350.75 Td (A. ) Tj ET Q q 0 0 0 rg BT 219.52 350.75 Td (V) Tj ET Q q 0 0 0 rg BT 226.14 350.75 Td (irtue, Chief Executive Of) Tj ET Q q 0 0 0 rg BT 327.03 350.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 344.95 350.75 Td (, pursuant to Rules13a-14 and 15d-14 of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.75 Td (Securities Exchange ) Tj ET Q q 0 0 0 rg BT 133.31 338.75 Td (Act, as adopted pursuant to section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 384.63 338.75 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 320.75 Td (Exhibit31.2 Certification of Robert E. Dose, ) Tj ET Q q 0 0 0 rg BT 244.51 320.75 Td (V) Tj ET Q q 0 0 0 rg BT 251.13 320.75 Td (ice President, Finance, pursuant to Rules13a-14 and 15d-14 of the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.37 308.75 Td (Act, as adopted pursuant to section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 342.70 308.75 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.75 Td (Exhibit32.1 Certification of Principal Executive Of) Tj ET Q q 0 0 0 rg BT 269.77 290.75 Td (ficer and Principal Financial Of) Tj ET Q q 0 0 0 rg BT 396.21 290.75 Td (ficer pursuant to 18 U.S.C. Section1350, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.75 Td (as adopted pursuant to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 283.56 278.75 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.75 Td (Exhibit101.INS XBRL) Tj ET Q q 0 0 0 rg BT 156.86 260.75 Td ( Instance Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.75 Td (Exhibit101.SCH XBRL) Tj ET Q q 0 0 0 rg BT 160.20 242.75 Td ( ) Tj ET Q q 0 0 0 rg BT 162.51 242.75 Td (T) Tj ET Q q 0 0 0 rg BT 167.92 242.75 Td (axonomy Extension Schema Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.75 Td (Exhibit101.CAL) Tj ET Q q 0 0 0 rg BT 119.07 224.75 Td ( XBRL) Tj ET Q q 0 0 0 rg BT 160.37 224.75 Td ( ) Tj ET Q q 0 0 0 rg BT 162.69 224.75 Td (T) Tj ET Q q 0 0 0 rg BT 168.10 224.75 Td (axonomy Extension Calculation Linkbase Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.75 Td (Exhibit101.LAB XBRL) Tj ET Q q 0 0 0 rg BT 160.74 206.75 Td ( ) Tj ET Q q 0 0 0 rg BT 163.06 206.75 Td (T) Tj ET Q q 0 0 0 rg BT 168.47 206.75 Td (axonomy Extension Label Linkbase Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.75 Td (Exhibit101.PRE XBRL) Tj ET Q q 0 0 0 rg BT 159.08 188.75 Td ( ) Tj ET Q q 0 0 0 rg BT 161.40 188.75 Td (T) Tj ET Q q 0 0 0 rg BT 166.81 188.75 Td (axonomy Extension Presentation Linkbase Document.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 267.40 720.50 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.52 720.50 Td (TURES ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 679.70 Td (Pursuant to the requirements of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 321.26 679.70 Td (Act of 1934, the registrant has duly caused this ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 665.30 Td (report to be signed on its behalf by the undersigned thereunto duly authorized. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 572.8 m 561.5 572.8 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 598.92 Td (VIRCO MFG. CORPORATION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 578.92 Td (Date: June 12, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 578.92 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.00 578.92 Td (/s/ Robert E. Dose) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.00 561.96 Td (Robert E. Dose) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.00 544.96 Td (Vice President Finance) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.30 742.25 Td (Exhibit 31.1 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.90 725.25 Td (CER) Tj ET Q q 0 0 0 rg BT 283.66 725.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 317.92 725.25 Td (TIONS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 708.25 Td (I, Robert ) Tj ET Q q 0 0 0 rg BT 87.50 708.25 Td (A. ) Tj ET Q q 0 0 0 rg BT 99.54 708.25 Td (V) Tj ET Q q 0 0 0 rg BT 106.16 708.25 Td (irtue, certify that: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 691.25 Td (1. I have reviewed this Form 10-Q of ) Tj ET Q q 0 0 0 rg BT 214.67 691.25 Td (V) Tj ET Q q 0 0 0 rg BT 221.29 691.25 Td (irco Mfg. Corporation; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 674.25 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.25 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.25 Td (misleading with respect to the period covered by this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 633.25 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 621.25 Td (all material respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 491.12 621.25 Td (, the periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 609.25 Td (presented in this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 592.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 73.32 592.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 131.91 592.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 210.87 592.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 194.66 580.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 134.14 568.25 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and have: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 551.25 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 539.25 Td (under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 527.25 Td (is made known to us by others within those entities, particularly during the period in which this report is being prepared; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 510.25 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 498.25 Td (designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 486.25 Td (preparation of financial statements for external purposes in accordance with generally accepted accounting principles; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 469.25 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 155.38 469.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 268.40 469.25 Td (s disclosure controls and procedures and presented in this report our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 457.25 Td (conclusions about the ef) Tj ET Q q 0 0 0 rg BT 160.24 457.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 445.25 Td (report based on such evaluation; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 428.25 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 299.99 428.25 Td (s internal control over financial reporting that occurred during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 416.25 Td (the registrant) Tj ET Q q 0 0 0 rg BT 118.76 416.25 Td (s most recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 287.58 416.25 Td (s fourth fiscal quarter in the case of an annual report\) that has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 404.25 Td (materially af) Tj ET Q q 0 0 0 rg BT 114.13 404.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 295.54 404.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 370.79 404.25 Td (s internal control over financial reporting; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 387.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 73.32 387.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 131.91 387.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 210.87 387.25 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.25 Td (over financial reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 214.94 375.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 421.00 375.25 Td (s board of directors \(or persons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.25 Td (performing the equivalent functions\): ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 346.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 90.05 346.25 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 334.25 Td (reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 274.07 334.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 346.82 334.25 Td (s ability to record, process, summarize and report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 322.25 Td (financial information; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 305.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 90.61 305.25 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 293.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 104.04 293.25 Td (s internal control over financial reporting. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 246.75 m 496.5 246.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 251.32 Td (/s/ Robert A. Virtue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 236.42 Td (Robert A. Virtue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 221.42 Td (Date: June 12, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.00 221.46 Td (Chief Executive Officer and Chairman of the Board) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.00 211.46 Td (\(Principal Executive Officer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.30 742.25 Td (Exhibit 31.2 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.90 725.25 Td (CER) Tj ET Q q 0 0 0 rg BT 283.66 725.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 317.92 725.25 Td (TIONS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 708.25 Td (I, Robert E. Dose, certify that: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 691.25 Td (1. I have reviewed this Form 10-Q of ) Tj ET Q q 0 0 0 rg BT 214.67 691.25 Td (V) Tj ET Q q 0 0 0 rg BT 221.29 691.25 Td (irco Mfg. Corporation; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 674.25 Td (2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.25 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.25 Td (misleading with respect to the period covered by this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 633.25 Td (3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 621.25 Td (all material respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 491.12 621.25 Td (, the periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 609.25 Td (presented in this report; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 592.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 73.32 592.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 131.91 592.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 210.87 592.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 194.66 580.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 134.14 568.25 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and have: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 551.25 Td (\(a\) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 539.25 Td (under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 527.25 Td (is made known to us by others within those entities, particularly during the period in which this report is being prepared; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 510.25 Td (\(b\) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 498.25 Td (designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 486.25 Td (preparation of financial statements for external purposes in accordance with generally accepted accounting principles; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 469.25 Td (\(c\) Evaluated the ef) Tj ET Q q 0 0 0 rg BT 155.38 469.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 268.40 469.25 Td (s disclosure controls and procedures and presented in this report our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 457.25 Td (conclusions about the ef) Tj ET Q q 0 0 0 rg BT 160.24 457.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 445.25 Td (report based on such evaluation; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 428.25 Td (\(d\) Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 299.99 428.25 Td (s internal control over financial reporting that occurred during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 416.25 Td (the registrant) Tj ET Q q 0 0 0 rg BT 118.76 416.25 Td (s most recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 287.58 416.25 Td (s fourth fiscal quarter in the case of an annual report\) that has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 404.25 Td (materially af) Tj ET Q q 0 0 0 rg BT 114.13 404.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 295.54 404.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 370.79 404.25 Td (s internal control over financial reporting; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 387.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 73.32 387.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 131.91 387.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 210.87 387.25 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.25 Td (over financial reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 214.94 375.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 421.00 375.25 Td (s board of directors \(or persons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.25 Td (performing the equivalent functions\): ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 346.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 90.05 346.25 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 334.25 Td (reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 274.07 334.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 346.82 334.25 Td (s ability to record, process, summarize and report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 322.25 Td (financial information; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 305.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 90.61 305.25 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 293.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 104.04 293.25 Td (s internal control over financial reporting. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256.5 246.75 m 496.5 246.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 251.32 Td (/s/ Robert E. Dose) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.00 236.42 Td (Robert E. Dose) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 221.42 Td (Date: June 12, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.00 221.46 Td (Vice President Finance, Secretary and Treasurer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.00 211.46 Td (\(Principal Financial Officer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.30 742.25 Td (Exhibit 32.1 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.00 725.25 Td (CER) Tj ET Q q 0 0 0 rg BT 249.76 725.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 284.02 725.25 Td (TION PURSUANT) Tj ET Q q 0 0 0 rg BT 366.35 725.25 Td ( ) Tj ET Q q 0 0 0 rg BT 368.67 725.25 Td (T) Tj ET Q q 0 0 0 rg BT 375.16 725.25 Td (O ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.70 713.25 Td (18 U.S.C. SECTION 1350, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.50 701.25 Td (AS ) Tj ET Q q 0 0 0 rg BT 252.23 701.25 Td (ADOPTED PURSUANT) Tj ET Q q 0 0 0 rg BT 357.89 701.25 Td ( ) Tj ET Q q 0 0 0 rg BT 360.21 701.25 Td (T) Tj ET Q q 0 0 0 rg BT 366.70 701.25 Td (O ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.10 689.25 Td (SECTION 906 OF) Tj ET Q q 0 0 0 rg BT 255.63 689.25 Td ( ) Tj ET Q q 0 0 0 rg BT 257.95 689.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 373.44 689.25 Td ( ) Tj ET Q q 0 0 0 rg BT 375.39 689.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 396.32 689.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 412.33 689.25 Td ( 2002 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 672.25 Td (Each of the undersigned hereby certifies, in his capacity as an of) Tj ET Q q 0 0 0 rg BT 307.50 672.25 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 338.96 672.25 Td (V) Tj ET Q q 0 0 0 rg BT 345.58 672.25 Td (irco Mfg. Corporation \(the Company\), for purposes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.25 Td (of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 393.84 660.25 Td (Act of 2002, that to his own knowledge: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 639.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.00 639.25 Td (The Quarterly Report of the Company on Form 10-Q for the period ended ) Tj ET Q q 0 0 0 rg BT 410.98 639.25 Td (April 30, 2015, fully complies with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.00 627.25 Td (the requirements of Section 13\(a\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 358.20 627.25 Td (Act of 1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 606.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.00 606.25 Td (The information contained in such report fairly presents, in all material respects, the financial condition and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.00 594.25 Td (results of operation of the Company) Tj ET Q q 0 0 0 rg BT 256.49 594.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.25 Td (Date: June 12, 2015) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 536.75 m 329.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 470.75 m 329.5 470.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.32 Td (/s/ Robert A. Virtue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 527.32 Td (Robert A. Virtue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 512.42 Td (Chief Executive Officer and Chairman of the Board) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 498.32 Td (\(Principal Executive Officer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 475.32 Td (/s/ Robert E. Dose) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.42 Td (Robert E. Dose) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 445.42 Td (Vice President Finance, Secretary and Treasurer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 431.32 Td (\(Principal Financial Officer\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 406.25 Td ( signed original of this written statement required by Section 906 has been provided to ) Tj ET Q q 0 0 0 rg BT 404.47 406.25 Td (V) Tj ET Q q 0 0 0 rg BT 411.09 406.25 Td (irco Mfg. Corporation and will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (retained by ) Tj ET Q q 0 0 0 rg BT 97.02 394.25 Td (V) Tj ET Q q 0 0 0 rg BT 103.64 394.25 Td (irco Mfg. Corporation and furnished to the Securities and Exchange Commission or its staf) Tj ET Q q 0 0 0 rg BT 467.84 394.25 Td (f upon request. ) Tj ET Q endstream endobj 43 0 obj <> /View <>>>>> endobj 44 0 obj <> /View <>>>>> endobj 45 0 obj <> endobj 46 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;