%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 202.30 578.80 Td (For) Tj ET Q q 0 0 0 rg BT 217.67 578.80 Td ( the quarterly period ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.38 578.80 Td (October) Tj ET Q q 0 0 0 rg BT 372.19 578.80 Td (31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.69 578.80 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 (15,179,664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.43 742.10 Td ( shares as of December 9, 2016.) 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 53 692.5333984375 m 167.4140625 692.5333984375 l s q 0 0 0 rg BT 53.00 693.87 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 79 675.5333984375 m 193.4189453125 675.5333984375 l s q 0 0 0 rg BT 79.00 676.87 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 79 658.0333984375 m 519.15625 658.0333984375 l s q 0 0 0 rg BT 79.00 659.37 Td (Unaudited condensed consolidated balance sheets - October 31, 2016, January 31, 2016 and October 31, 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 79 640.5333984375 m 507.3154296875 640.5333984375 l s q 0 0 0 rg BT 79.00 641.87 Td (Unaudited condensed consolidated statements of income - ) Tj ET Q q 0 0 0 rg BT 314.03 641.87 Td (Three months ended October 31, 2016 and 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 79 623.5333984375 m 503.619140625 623.5333984375 l s q 0 0 0 rg BT 79.00 624.87 Td (Unaudited condensed consolidated statements of income - Nine months ended October 31, 2016 and 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 79 607.9833984375 m 510.9091796875 607.9833984375 l s q 0 0 0 rg BT 79.00 609.32 Td (Unaudited condensed consolidated statements of comprehensive income - ) Tj ET Q q 0 0 0 rg BT 377.06 609.32 Td (Three months ended October 31, ) 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 79 597.9833984375 m 138.4384765625 597.9833984375 l s q 0 0 0 rg BT 79.00 599.32 Td (2016 and 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 79 583.9833984375 m 507.212890625 583.9833984375 l s q 0 0 0 rg BT 79.00 585.32 Td (Unaudited condensed consolidated statements of comprehensive income - Nine months ended October 31, ) 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 79 573.9833984375 m 138.4384765625 573.9833984375 l s q 0 0 0 rg BT 79.00 575.32 Td (2016 and 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 79 558.5333984375 m 516.67578125 558.5333984375 l s q 0 0 0 rg BT 79.00 559.87 Td (Unaudited condensed consolidated statements of cash flows - Nine months ended October 31, 2016 and 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 79 541.5333984375 m 412.5205078125 541.5333984375 l s q 0 0 0 rg BT 79.00 542.87 Td (Notes to unaudited condensed consolidated financial statements - October 31, 2016) 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 79 524.5333984375 m 468.1162109375 524.5333984375 l s q 0 0 0 rg BT 79.00 525.87 Td (Item2. Management) Tj ET Q q 0 0 0 rg BT 164.81 525.87 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 233.98 525.87 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 79 507.5333984375 m 349.21484375 507.5333984375 l s q 0 0 0 rg BT 79.00 508.87 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 79 490.5333984375 m 208.140625 490.5333984375 l s q 0 0 0 rg BT 79.00 491.87 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 53 473.5333984375 m 156.30078125 473.5333984375 l s q 0 0 0 rg BT 53.00 474.87 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 79 456.5333984375 m 183.9658203125 456.5333984375 l s q 0 0 0 rg BT 79.00 457.87 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 79 439.5333984375 m 167.3251953125 439.5333984375 l s q 0 0 0 rg BT 79.00 440.87 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 79 422.5333984375 m 504.7275390625 422.5333984375 l s q 0 0 0 rg BT 79.00 423.87 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 79 405.5333984375 m 238.9658203125 405.5333984375 l s q 0 0 0 rg BT 79.00 406.87 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 79 388.5333984375 m 208.140625 388.5333984375 l s q 0 0 0 rg BT 79.00 389.87 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 79 371.5333984375 m 182.857421875 371.5333984375 l s q 0 0 0 rg BT 79.00 372.87 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 79 354.5333984375 m 143.16015625 354.5333984375 l s q 0 0 0 rg BT 79.00 355.87 Td (Item6. Exhibits) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 338.87 Td (EX-31.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 321.87 Td (EX-31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 304.87 Td (EX-32.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 287.87 Td (EX-101 INSTANCE DOCUMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 270.87 Td (EX-101 SCHEMA DOCUMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 253.87 Td (EX-101 CALCULATION LINKBASE DOCUMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 236.87 Td (EX-101 LABELS LINKBASE DOCUMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 219.87 Td (EX-101 PRESENTATION LINKBASE DOCUMENT) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 191.45 Td () 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 554 692.5333984375 m 559 692.5333984375 l s q 0 0 0 rg BT 554.00 693.87 Td (3) 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 554 675.5333984375 m 559 675.5333984375 l s q 0 0 0 rg BT 554.00 676.87 Td (3) 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 554 658.0333984375 m 559 658.0333984375 l s q 0 0 0 rg BT 554.00 659.37 Td (3) 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 554 640.5333984375 m 559 640.5333984375 l s q 0 0 0 rg BT 554.00 641.87 Td (5) 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 554 623.5333984375 m 559 623.5333984375 l s q 0 0 0 rg BT 554.00 624.87 Td (6) 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 554 603.0333984375 m 559 603.0333984375 l s q 0 0 0 rg BT 554.00 604.37 Td (7) 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 554 579.0333984375 m 559 579.0333984375 l s q 0 0 0 rg BT 554.00 580.37 Td (8) 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 554 558.5333984375 m 559 558.5333984375 l s q 0 0 0 rg BT 554.00 559.87 Td (9) 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 549 541.5333984375 m 559 541.5333984375 l s q 0 0 0 rg BT 549.00 542.87 Td (10) 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 549 524.5333984375 m 559 524.5333984375 l s q 0 0 0 rg BT 549.00 525.87 Td (16) 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 549 507.5333984375 m 559 507.5333984375 l s q 0 0 0 rg BT 549.00 508.87 Td (17) 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 549 490.5333984375 m 559 490.5333984375 l s q 0 0 0 rg BT 549.00 491.87 Td (18) 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 549 473.5333984375 m 559 473.5333984375 l s q 0 0 0 rg BT 549.00 474.87 Td (19) 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 549 456.5333984375 m 559 456.5333984375 l s q 0 0 0 rg BT 549.00 457.87 Td (19) 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 549 439.5333984375 m 559 439.5333984375 l s q 0 0 0 rg BT 549.00 440.87 Td (19) 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 549 422.5333984375 m 559 422.5333984375 l s q 0 0 0 rg BT 549.00 423.87 Td (19) 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 549 405.5333984375 m 559 405.5333984375 l s q 0 0 0 rg BT 549.00 406.87 Td (19) 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 549 388.5333984375 m 559 388.5333984375 l s q 0 0 0 rg BT 549.00 389.87 Td (19) 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 549 371.5333984375 m 559 371.5333984375 l s q 0 0 0 rg BT 549.00 372.87 Td (19) 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 549 354.5333984375 m 559 354.5333984375 l s q 0 0 0 rg BT 549.00 355.87 Td (19) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.95 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 245.32 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 259.41 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 265.90 742.25 Td ( I. 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Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.00 673.25 Td (Condensed Consolidated Balance Sheets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 662.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 601.95 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 601.95 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 601.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 601.95 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 601.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 601.95 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 571.95 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 571.95 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 571.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 571.95 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 571.95 4.00 -15.00 re 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544.65 485.62 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 471.52 Td (Long-term debt, less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 470.62 Td (4,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 470.62 Td (6,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 470.62 Td (3,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 456.52 Td (Other accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 455.62 Td (2,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 455.62 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 455.62 Td (978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 441.52 Td (Total non-current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 440.62 Td (30,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 440.62 Td (33,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 440.62 Td (34,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 426.52 Td (Commitments and contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 411.52 Td (Stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 396.52 Td (Preferred stock:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 381.52 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 53.00 371.52 Td (outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 369.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 369.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 369.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 355.52 Td (Common stock:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 340.52 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 53.00 330.52 Td (15,179,664 shares at 10/31/2016 and 14,998,187 at 1/31/2016 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 320.52 Td (10/31/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 320.62 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 320.62 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 320.62 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 306.52 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 305.62 Td (116,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 305.62 Td (116,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.15 305.62 Td (116,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 291.52 Td (Accumulated deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.80 290.67 Td (\(41,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 290.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 290.67 Td (\(69,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 290.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 290.67 Td (\(63,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 290.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.52 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.80 275.67 Td (\(13,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 275.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 275.67 Td (\(14,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 275.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 275.67 Td (\(18,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 275.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.52 Td (Total stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 260.62 Td (62,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 260.62 Td (33,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 260.62 Td (34,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 246.52 Td (Total liabilities and stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 245.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 245.62 Td (114,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 245.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 245.62 Td (89,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 245.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 245.62 Td (93,271) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 220.45 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. 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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 8.00 Tf ET q 0 0 0 rg BT 459.95 664.18 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 442.25 651.18 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.25 651.18 Td (10/31/2015) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 623.52 Td (67,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 623.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 623.52 Td (64,981) 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 (43,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 609.52 Td (41,771) 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 462.15 595.52 Td (24,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 595.52 Td (23,210) 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 (17,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 581.52 Td (16,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 567.52 Td (\(Gain\) loss 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 (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 567.52 Td (\)) Tj ET Q 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rg BT 541.15 441.52 Td (0.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.52 Td (W) Tj ET Q q 0 0 0 rg BT 61.64 427.52 Td (eighted average shares outstanding:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 417.57 Td (:) 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 (15,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 413.52 Td (14,971) 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 (15,293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 399.52 Td (15,324) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 371.45 Td (See accompanying notes.) 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BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 390.21 Td (\(3,583) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 390.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 377.01 Td (Proceeds from sale of property, plant and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.50 376.21 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.50 376.21 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 363.01 Td (Net cash used in investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.75 362.21 Td (\(3,237) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 362.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 362.21 Td (\(3,575) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 362.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 349.15 Td (Financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 335.01 Td (Proceeds from long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 334.21 Td (37,004) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 334.21 Td (31,960) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 321.01 Td (Repayment of long-term debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.25 320.21 Td (\(38,976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 320.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 320.21 Td (\(37,348) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 320.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 307.01 Td (Common stock repurchased) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.50 306.21 Td (\(264) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 306.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 306.21 Td (\(206) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 306.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 293.01 Td (Net cash used in financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.75 292.21 Td (\(2,236) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 292.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 292.21 Td (\(5,594) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 292.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 266.01 Td (Net increase in cash) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 265.21 Td (1,494) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 265.21 Td (1,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 252.01 Td (Cash at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 251.21 Td (815) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 251.21 Td (470) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 238.01 Td (Cash at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 237.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 237.21 Td (2,309) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 237.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 237.21 Td (1,595) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 212.25 Td (See accompanying notes.) 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 /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 269.80 700.25 Td (October) Tj ET Q q 0 0 0 rg BT 304.60 700.25 Td ( 31, 2016) 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 nine months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.76 604.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.47 604.25 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, 2017) 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, 2016) 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, 2016) 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 (\(Form10-K\). ) Tj ET Q q 0 0 0 rg BT 117.21 544.25 Td (All references to the Company refer to ) Tj ET Q q 0 0 0 rg BT 282.78 544.25 Td (V) Tj ET Q q 0 0 0 rg BT 289.40 544.25 Td (irco Mfg. Corporation and its subsidiaries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (Note 2. Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (The market for educational furniture is marked by extreme seasonality) Tj ET Q q 0 0 0 rg BT 331.19 502.25 Td (, with approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.72 502.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.05 502.25 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 504.77 502.25 Td (s total sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (typically occurring from June to ) Tj ET Q q 0 0 0 rg BT 180.80 490.25 Td (August each year) Tj ET Q q 0 0 0 rg BT 249.81 490.25 Td (, the Company) Tj ET Q q 0 0 0 rg BT 311.20 490.25 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 50.00 478.25 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 50.00 466.25 Td (requirements of customers in the educational market. ) Tj ET Q q 0 0 0 rg BT 264.75 466.25 Td (This requires a lar) Tj ET Q q 0 0 0 rg BT 337.04 466.25 Td (ge up-front investment in inventory) Tj ET Q q 0 0 0 rg BT 478.58 466.25 Td (, labor) Tj ET Q q 0 0 0 rg BT 503.73 466.25 Td (, storage and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 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 409.93 454.25 Td (As the capital required for this build-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (up generally exceeds cash available from operations, the Company has generally relied on third-party bank financing to meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 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 50.00 418.25 Td (is faced with a lar) Tj ET Q q 0 0 0 rg BT 120.90 418.25 Td (ge balance of accounts receivable during the peak season. ) Tj ET Q q 0 0 0 rg BT 353.95 418.25 Td (This occurs for two primary reasons. First, accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 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 50.00 394.25 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 50.00 373.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 373.25 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 50.00 361.25 Td (make estimates and judgments that af) Tj ET Q q 0 0 0 rg BT 200.05 361.25 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 50.00 349.25 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 50.00 337.25 Td (inventory) Tj ET Q q 0 0 0 rg BT 87.68 337.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (Note 3. New ) Tj ET Q q 0 0 0 rg BT 103.32 310.25 Td (Accounting Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.05 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 285.05 Td (April 2015, the F) Tj ET Q q 0 0 0 rg BT 128.42 285.05 Td (ASB amended its existing accounting standards for the presentation of debt issuance costs in the statement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.05 Td (of financial position. ) Tj ET Q q 0 0 0 rg BT 135.36 273.05 Td (The amendments generally require that the issuance costs related to a recognized debt obligation be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.05 Td (presented as a deduction from the carrying amount of the debt obligation, with the associated amortization recognized as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.05 Td (component of interest expense. ) Tj ET Q q 0 0 0 rg BT 176.72 249.05 Td (The amendments were ef) Tj ET Q q 0 0 0 rg BT 277.33 249.05 Td (fective for beginning February 1, 2016 on a retrospective basis; the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.05 Td (Company adopted the standard for issuance costs incurred related to its revolving line of credit. ) Tj ET Q q 0 0 0 rg BT 434.15 237.05 Td (The adoption resulted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.05 Td (reclassification of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.86 225.05 Td ($84,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.36 225.05 Td ( from prepaid expenses and other current assets to current portion of long-term debt, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.97 225.05 Td ($125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.47 225.05 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.05 Td (other accrued liabilities to current portion of long-term debt and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.25 213.05 Td ($69,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.75 213.05 Td ( from other assets to long-term debt to as of January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.05 Td (31, 2016. ) Tj ET Q q 0 0 0 rg BT 89.82 201.05 Td (The adoption resulted in the reclassification of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.37 201.05 Td ($84,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.87 201.05 Td ( from prepaid expenses and other current assets to current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.05 Td (portion of long-term debt, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.37 189.05 Td ($125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.87 189.05 Td ( from other accrued liabilities to current portion of long-term debt and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.55 189.05 Td ($90,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.05 189.05 Td ( from other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.05 Td (assets to long-term debt as of October 31, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.05 Td (In November 2015, the F) Tj ET Q q 0 0 0 rg BT 150.07 156.05 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 198.97 156.05 Td (Accounting Standard Update No. 2015-17, "Balance Sheet Classification of Deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.05 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 144.05 Td (axes", an update to ) Tj ET Q q 0 0 0 rg BT 133.08 144.05 Td (ASC 740, Income ) Tj ET Q q 0 0 0 rg BT 207.34 144.05 Td (T) Tj ET Q q 0 0 0 rg BT 212.75 144.05 Td (axes. Current GAAP) Tj ET Q q 0 0 0 rg BT 295.42 144.05 Td ( requires an entity to separate deferred income tax liabilities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.05 Td (assets into current and noncurrent amounts in a classified statement of financial position. ) Tj ET Q q 0 0 0 rg BT 407.50 132.05 Td (T) Tj ET Q q 0 0 0 rg BT 412.91 132.05 Td (o simplify the presentation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.05 Td (deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.05 Td (in a classified statement of financial position. ) Tj ET Q q 0 0 0 rg BT 233.66 108.05 Td (The current requirement that deferred tax liabilities and assets of a tax-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.05 Td (paying component of an entity be of) Tj ET Q q 0 0 0 rg BT 194.78 96.05 Td (fset and presented as a single amount is not af) Tj ET Q q 0 0 0 rg BT 378.16 96.05 Td (fected by the amendments in this Update. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.05 Td (public business entities, the amendments in this update are ef) Tj ET Q q 0 0 0 rg BT 294.20 84.05 Td (fective for financial statements issued for annual periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.05 Td (beginning after December 15, 2016, and interim periods within those annual periods. ) Tj ET Q q 0 0 0 rg BT 392.23 72.05 Td (The Board also decided to permit earlier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.05 Td (application by all entities as of the beginning of any interim or annual reporting period. ) Tj ET Q q 0 0 0 rg BT 403.33 60.05 Td (The Company has chosen to early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.05 Td (adopt the Update for the year ended January 31, 2016. ) Tj ET Q q 0 0 0 rg BT 269.19 48.05 Td (The Company chose to retrospectively adopt these provisions, which ) 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 (resulted in reclassifications in the Consolidated Balance Sheet as of October 31, 2015, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.24 742.10 Td ($156,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.74 742.10 Td ( from current Deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (income taxes to long-term Deferred income taxes .) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (Note 4. Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 679.10 Td (Inventory is valued at the lower of cost \(determined on a first-in, first-out basis\) or Net Realizable ) Tj ET Q q 0 0 0 rg BT 444.14 679.10 Td (V) Tj ET Q q 0 0 0 rg BT 450.25 679.10 Td (alue and includes material, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 667.10 Td (labor) Tj ET Q q 0 0 0 rg BT 70.15 667.10 Td (, and factory overhead. ) Tj ET Q q 0 0 0 rg BT 164.37 667.10 Td (The Company maintains allowances for estimated slow moving and obsolete inventory to reflect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.10 Td (the dif) Tj ET Q q 0 0 0 rg BT 75.64 655.10 Td (ference between the cost of inventory and the estimated market value. ) Tj ET Q q 0 0 0 rg BT 357.20 655.10 Td (Allowances for slow moving and obsolete ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (inventory are determined through a physical inspection of the product in connection with a physical inventory) Tj ET Q q 0 0 0 rg BT 488.95 643.10 Td (, a review of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (slow-moving product, and consideration of active marketing programs. ) Tj ET Q q 0 0 0 rg BT 336.97 631.10 Td (The market for education furniture is traditionally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (driven by value, not style, and the Company has not typically incurred significant obsolescence expenses. If market conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (are less favorable than those anticipated by management, additional allowances may be required. Due to reductions in sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (volume in the past years, the Company) Tj ET Q q 0 0 0 rg BT 208.58 595.10 Td (s manufacturing facilities are operating at reduced levels of capacity) Tj ET Q q 0 0 0 rg BT 480.86 595.10 Td (. ) Tj ET Q q 0 0 0 rg BT 485.68 595.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (records the cost of excess capacity as a period expense, not as a component of capitalized inventory valuation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (The following table presents an updated breakdown of the Company) Tj ET Q q 0 0 0 rg BT 326.87 559.10 Td (s net inventory \(in thousands\) as of October 31, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (January 31, 2016 and October 31, 2015:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.60 259.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 512.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 512.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 512.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.60 259.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 482.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 482.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 482.60 81.00 -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 313.5 512.6 m 392.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 512.6 m 477.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 512.6 m 562.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 512.6 m 392.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 512.6 m 477.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 512.6 m 562.5 512.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 467.6 m 392.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 467.6 m 477.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 467.6 m 562.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 467.6 m 392.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 453.6 m 392.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 451.6 m 392.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 467.6 m 477.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 453.6 m 477.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 451.6 m 477.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 467.6 m 562.5 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 453.6 m 562.5 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 451.6 m 562.5 451.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.25 516.83 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.25 516.83 Td (1/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.25 516.83 Td (10/31/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.27 Td ( Finished goods) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 502.27 Td (9,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 502.27 Td (10,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 502.27 Td (7,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.27 Td ( WIP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 487.27 Td (11,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 487.27 Td (13,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 487.27 Td (11,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.27 Td ( Raw materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 472.27 Td (10,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 472.27 Td (10,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 472.27 Td (8,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 457.27 Td ( Inventories, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.15 457.27 Td (31,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 457.27 Td (34,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 457.27 Td (27,168) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (In connection with the preparation of the January 31, 2016 consolidated financial statements, the Company determined that its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (reserve for excess and obsolete inventory had previously been applied exclusively to the Finished goods portion of inventory) Tj ET Q q 0 0 0 rg BT 548.95 411.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (when it should have been applied against Finished goods, ) Tj ET Q q 0 0 0 rg BT 282.56 399.10 Td (W) Tj ET Q q 0 0 0 rg BT 291.20 399.10 Td (ork in process, and Raw materials and supplies, based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (identification of the specific parts determined to be held in excess or obsolete. ) Tj ET Q q 0 0 0 rg BT 364.16 387.10 Td (The Company evaluated the impact of this error ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (on prior year financial statements and concluded that it was immaterial for the quarter ended October 31, 2015, and for all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (interim periods within the fiscal year ending January 31, 2016. ) Tj ET Q q 0 0 0 rg BT 303.09 363.10 Td (While the amounts included in the prior year disclosure were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 Td (considered to be immaterial, the Company elected to revise the disclosure of previously reported amounts to be consistent with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.10 Td (the presentation as of October 31, 2016 and January 31, 2016. ) Tj ET Q q 0 0 0 rg BT 300.31 339.10 Td (The changes resulted in no change to Inventories, net. ) Tj ET Q q 0 0 0 rg BT 518.12 339.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.10 Td (changes resulted in an increase to Finished goods of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.78 327.10 Td ($2,395,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.78 327.10 Td (, a decrease to ) Tj ET Q q 0 0 0 rg BT 364.73 327.10 Td (W) Tj ET Q q 0 0 0 rg BT 373.37 327.10 Td (ork in process of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 327.10 Td ($1,412,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.80 327.10 Td (, and a decrease to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (Raw materials and supplies of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.03 315.10 Td ($983,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.53 315.10 Td ( as of October 31, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.10 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 50.00 285.10 Td (are fairly stated.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 261.10 Td (Note 5. Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.10 Td (Outstanding balances \(in thousands\) for the Company) Tj ET Q q 0 0 0 rg BT 268.29 243.10 Td (s long-term debt were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 183.60 300.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 183.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 183.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 183.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 183.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 183.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 153.60 300.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 153.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 153.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 153.60 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 153.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 153.60 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 350.5 213.60000000000002 m 418.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 213.60000000000002 m 490.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 213.60000000000002 m 562.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 213.60000000000002 m 418.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 213.60000000000002 m 490.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 213.60000000000002 m 562.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 168.60000000000002 m 418.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 168.60000000000002 m 490.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 168.60000000000002 m 562.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 138.60000000000002 m 418.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 138.60000000000002 m 490.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 138.60000000000002 m 562.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 124.60000000000002 m 418.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 122.60000000000002 m 418.5 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 124.60000000000002 m 490.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 122.60000000000002 m 490.5 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 124.60000000000002 m 562.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 122.60000000000002 m 562.5 122.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 363.45 218.00 Td (10/31/2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.70 218.00 Td (1/31/2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 507.45 218.00 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.35 204.86 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 189.17 Td (Revolving credit line) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 188.27 Td (4,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 188.27 Td (6,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 188.27 Td (3,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 174.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 173.27 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 173.27 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 173.27 Td (133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 159.17 Td (Total debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 158.27 Td (4,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 158.27 Td (6,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 158.27 Td (4,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 144.17 Td (Less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 143.27 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 143.27 Td (579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 143.27 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 129.17 Td (Non-current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 128.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 128.27 Td (4,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 128.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 128.27 Td (6,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 128.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 128.27 Td (3,974) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (On December22, 201) Tj ET Q q 0 0 0 rg BT 137.93 88.10 Td (1, the Company entered into a Revolving Credit and Security ) Tj ET Q q 0 0 0 rg BT 384.83 88.10 Td (Agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 481.18 88.10 Td (Agreement\) with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (PNC Bank, National ) Tj ET Q q 0 0 0 rg BT 134.44 76.10 Td (Association \(PNC\). ) Tj ET Q q 0 0 0 rg BT 226.47 76.10 Td (The credit agreement currently matures on December 22, 2019 and has a maximum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (availability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.32 64.10 Td ($49,750,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.32 64.10 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 52.10 Td (Agreement bear interest at either the ) Tj ET Q q 0 0 0 rg BT 197.71 52.10 Td (Alternate Base Rate \(as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 378.76 52.10 Td (Agreement\) plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.18 52.10 Td (0.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.01 52.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.79 52.10 Td (1.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.62 52.10 Td ( or the ) 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 (Eurodollar Currency Rate \(as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 254.38 742.10 Td (Agreement\) plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.80 742.10 Td (1.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.63 742.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.41 742.10 Td (2.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.24 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 395.56 742.10 Td (The interest rate at October 31, 2016 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (4.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.83 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 75.28 730.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.32 730.10 Td ($15,020,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.32 730.10 Td ( was available for borrowing as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.44 730.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 730.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 94.99 712.10 Td (Agreement restricts the Company from issuing dividends or making payments with respect to the Company's capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (stock to an annual limit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.20 700.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.09 700.10 Td (, and contains numerous other covenants, including these financial covenants: \(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (minimum tangible net worth, \(2\) fixed char) Tj ET Q q 0 0 0 rg BT 223.38 688.10 Td (ge coverage ratio, and \(3\) minimum EBITDA) Tj ET Q q 0 0 0 rg BT 405.83 688.10 Td ( amount, in each case as of the end of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (the relevant monthly) Tj ET Q q 0 0 0 rg BT 132.10 676.10 Td (, quarterly or annual measurement period. ) Tj ET Q q 0 0 0 rg BT 304.36 676.10 Td (The Company was in compliance with its covenants during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (third quarter of fiscal 2017. Pursuant to the Credit ) Tj ET Q q 0 0 0 rg BT 251.63 664.10 Td (Agreement, substantially all of the Company's accounts receivable are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (automatically and promptly swept to repay amounts outstanding under the Revolving Credit Facility upon receipt by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 640.10 Td (. On ) Tj ET Q q 0 0 0 rg BT 109.91 640.10 Td (April 4, 2016, the Company entered into ) Tj ET Q q 0 0 0 rg BT 274.05 640.10 Td (Amendment No. 12 to the Credit ) Tj ET Q q 0 0 0 rg BT 407.64 640.10 Td (Agreement which, among other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (things, increased the borrowing availability for the period from June 1, 2016 through ) Tj ET Q q 0 0 0 rg BT 391.31 628.10 Td (August 15, 2016 and modified the clean ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (down provision to reduce borrowings under the line to less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.45 616.10 Td ($6,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.45 616.10 Td ( from a period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.71 616.10 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.71 616.10 Td ( consecutive days to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.02 616.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.02 616.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (consecutive days. On October 27, 2016, the Company entered into ) Tj ET Q q 0 0 0 rg BT 320.49 604.10 Td (Amendment No. 13 to the Credit ) Tj ET Q q 0 0 0 rg BT 454.09 604.10 Td (Agreement which, among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (other things, reduced the maximum availability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.22 592.10 Td ($49,750,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.22 592.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 592.10 Td ($49,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 592.10 Td ( to allow for a sub-line for the company's credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (card program. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (The Company believes that the Revolving Credit Facility will provide suf) Tj ET Q q 0 0 0 rg BT 344.77 562.10 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 50.00 550.10 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 485.41 550.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.12 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (and 2015, 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 50.00 514.10 Td (Note 6. Income ) Tj ET Q q 0 0 0 rg BT 116.47 514.10 Td (T) Tj ET Q q 0 0 0 rg BT 122.22 514.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 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 50.00 484.10 Td (accordance with the provisions of ) Tj ET Q q 0 0 0 rg BT 186.90 484.10 Td (ASC No.740,) Tj ET Q q 0 0 0 rg BT 245.53 484.10 Td (Accounting for Income ) Tj ET Q q 0 0 0 rg BT 341.15 484.10 Td (T) Tj ET Q q 0 0 0 rg BT 346.56 484.10 Td (axes. Deferred income taxes are recognized for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 472.10 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 507.24 472.10 Td (fect for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (years in which the dif) Tj ET Q q 0 0 0 rg BT 136.46 460.10 Td (ferences are expected to reverse. ) Tj ET Q q 0 0 0 rg BT 268.97 460.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 294.60 460.10 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 50.00 448.10 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 50.00 436.10 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 50.00 424.10 Td (making this assessment. ) Tj ET Q q 0 0 0 rg BT 148.70 424.10 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 50.00 412.10 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 418.59 412.10 Td (ferences become deductible. ) Tj ET Q q 0 0 0 rg BT 536.59 412.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (October31, 2016, the Company determined that it was more-likely-than-not to realize the majority of its deferred tax assets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (and therefore released its valuation against those assets resulting in a benefit to income taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.76 388.10 Td ($17,962,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.76 388.10 Td (. ) Tj ET Q q 0 0 0 rg BT 491.08 388.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (has left a partial valuation allowance against certain state deferred tax assets that the Company does not believe it is more-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (likely-than-not to realize.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (The year January 31, 2014 and subsequent years remain open for examination by the IRS. ) Tj ET Q q 0 0 0 rg BT 414.72 340.10 Td (The fiscal year ended January31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (2012 and subsequent years remain open for examination by state tax authorities. ) Tj ET Q q 0 0 0 rg BT 373.34 328.10 Td (The Company is not currently under IRS or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (state examination. ) Tj ET Q q 0 0 0 rg BT 127.57 316.10 Td (W) Tj ET Q q 0 0 0 rg BT 136.21 316.10 Td (e do not believe that there are any positions for which it is reasonably possible that the total amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (unrecognized tax benefits will significantly increase or decrease within the next 12months.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Note 7. Net Income per) Tj ET Q q 0 0 0 rg BT 148.40 274.10 Td ( Shar) Tj ET Q q 0 0 0 rg BT 171.28 274.10 Td (e) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 212.60 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 212.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 212.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 212.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 212.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 212.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 212.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 212.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 212.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 182.60 244.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 182.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 182.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 182.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 182.60 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 182.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 182.60 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 182.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 182.60 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 142.60 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 142.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 142.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 142.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 142.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 142.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 142.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 142.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 142.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 112.60 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 112.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 112.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 112.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 112.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 112.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 112.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 112.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 112.60 59.00 -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 311.5 242.60000000000002 m 367.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 242.60000000000002 m 371.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 242.60000000000002 m 423.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 242.60000000000002 m 483.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 242.60000000000002 m 488.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 242.60000000000002 m 547.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 227.60000000000002 m 367.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 227.60000000000002 m 423.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 227.60000000000002 m 483.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 227.60000000000002 m 547.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 157.60000000000002 m 367.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 157.60000000000002 m 423.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 157.60000000000002 m 483.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 157.60000000000002 m 547.5 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 157.60000000000002 m 367.5 157.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 246.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.60 246.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 343.79 246.83 Td (ee Months Ended ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.25 246.83 Td (Nine Months Ended ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 231.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.75 231.83 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.75 231.83 Td (10/31/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.25 231.83 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.25 231.83 Td (10/31/2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 216.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.35 216.85 Td (\(In thousands, except per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 203.17 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 202.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 202.27 Td (23,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 202.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 202.27 Td (6,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 202.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 202.27 Td (27,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 202.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.15 202.27 Td (10,276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 188.17 Td (Weighted average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 187.27 Td (15,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 187.27 Td (14,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 187.27 Td (15,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.15 187.27 Td (14,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 173.17 Td (Net effect of dilutive share-based on the treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 163.17 Td (method using average market price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 162.27 Td (165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 162.27 Td (353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 162.27 Td (139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 162.27 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 147.27 Td (Totals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 147.27 Td (15,293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 147.27 Td (15,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 147.27 Td (15,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.15 147.27 Td (15,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 118.17 Td (Net income per share - basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 117.27 Td (1.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 117.27 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 117.27 Td (1.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 117.27 Td (0.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 103.17 Td (Net income per share - diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 102.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 102.27 Td (1.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 102.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 102.27 Td (0.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 102.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 102.27 Td (1.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 102.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 102.27 Td (0.67) Tj ET Q BT /F1 10.00 Tf ET 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 (Note 8. Stock-Based Compensation and Stockholders) Tj ET Q q 0 0 0 rg BT 278.72 742.25 Td ( Rights) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Stock Incentive Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Under the 201) Tj ET Q q 0 0 0 rg BT 106.84 706.25 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 300.11 706.25 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.11 706.25 Td ( shares to its employees and non-employee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (directors in the form of stock options or awards. Restricted stock or stock units awarded under the 201) Tj ET Q q 0 0 0 rg BT 461.47 694.25 Td (1 Plan are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (expensed ratably over the vesting period of the awards. ) Tj ET Q q 0 0 0 rg BT 273.08 682.25 Td (The Company determines the fair value of its restricted stock unit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (awards and related compensation expense as the dif) Tj ET Q q 0 0 0 rg BT 256.68 670.25 Td (ference between the market value of the awards on the date of grant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (less the exercise price of the awards granted. ) Tj ET Q q 0 0 0 rg BT 233.63 658.25 Td (There were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.37 658.25 Td (87,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.87 658.25 Td ( awards granted and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.62 658.25 Td (223,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.12 658.25 Td ( awards were vested during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (the second quarter ended July31, 2016. ) Tj ET Q q 0 0 0 rg BT 213.67 646.25 Td (There were no additional awards granted or vested during the third quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (October 31, 2016. ) Tj ET Q q 0 0 0 rg BT 127.03 634.25 Td (There were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.03 634.25 Td (746,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.53 634.25 Td ( shares available for future issuance under the 201) Tj ET Q q 0 0 0 rg BT 467.64 634.25 Td (1 Plan as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.71 622.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Accounting for) Tj ET Q q 0 0 0 rg BT 113.98 586.25 Td ( the Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (Restricted Stock Unit ) Tj ET Q q 0 0 0 rg BT 143.60 568.25 Td (A) Tj ET Q q 0 0 0 rg BT 150.08 568.25 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 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 386.57 550.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.28 550.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.72 550.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.72 550.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 480.75 125.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 480.75 39.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 480.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 480.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 480.75 43.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 480.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 480.75 46.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 480.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 480.75 75.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 443.75 125.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 443.75 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 443.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 443.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 443.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 443.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 443.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 443.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 443.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 415.75 125.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 415.75 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 415.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 415.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 415.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 415.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 415.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 415.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 415.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 387.75 125.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 387.75 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 387.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 387.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 387.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 387.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 387.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 387.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 387.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 359.75 125.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 359.75 39.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.50 359.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 359.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 359.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 359.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 359.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 359.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 359.75 75.00 -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 268.5 504.75 m 314.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 504.75 m 318.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 504.75 m 361.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 504.75 m 411.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 504.75 m 415.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 504.75 m 461.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 504.75 m 540.5 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 480.75 m 175.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 179.5 480.75 m 218.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 480.75 m 264.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 480.75 m 314.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 480.75 m 361.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 480.75 m 411.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 480.75 m 461.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 480.75 m 540.5 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 359.75 m 314.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 359.75 m 361.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 359.75 m 411.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 359.75 m 461.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 359.75 m 540.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 346.75 m 314.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 344.75 m 314.5 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 346.75 m 361.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 344.75 m 361.5 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 359.75 m 411.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 346.75 m 411.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 344.75 m 411.5 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 359.75 m 461.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 346.75 m 461.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 344.75 m 461.5 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 346.75 m 540.5 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 344.75 m 540.5 344.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 509.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.55 516.98 Td (Expense for 3 months) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.25 508.98 Td (ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.05 516.98 Td (Expense for) Tj ET Q q 0 0 0 rg BT 416.57 516.98 Td ( 9 months ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 508.98 Td (ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.00 524.98 Td (Unr) Tj ET Q q 0 0 0 rg BT 492.63 524.98 Td (ecognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.80 516.98 Td (Compensation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.35 508.98 Td (Cost at) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 485.20 Td (Date of Grants) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 188.20 494.20 Td (Units) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 182.25 485.20 Td (Granted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 226.00 494.20 Td (Terms of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 228.90 485.20 Td (Vesting) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.75 484.98 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.25 484.98 Td (10/31/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.75 484.98 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.75 484.98 Td (10/31/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.25 484.98 Td (10/31/2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 462.20 Td (2011 Stock Incentive Plan) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 448.21 Td (06/21/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.10 448.21 Td (51,284) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.85 448.21 Td (1 year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.00 448.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.25 448.21 Td (50,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.00 448.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.00 448.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 368.00 448.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.25 448.21 Td (83,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 448.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.00 448.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.00 448.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 448.21 Td (116,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 434.21 Td (06/21/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.10 434.21 Td (36,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 230.10 434.21 Td (3 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.25 434.21 Td (12,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.00 434.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.25 434.21 Td (20,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.00 434.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 434.21 Td (120,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 420.21 Td (06/22/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.10 420.21 Td (48,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 230.10 420.21 Td (4 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 290.75 420.21 Td (8,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 337.75 420.21 Td (8,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.25 420.21 Td (24,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.25 420.21 Td (13,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.25 420.21 Td (86,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 406.21 Td (06/22/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.10 406.21 Td (27,174) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.85 406.21 Td (1 year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 302.00 406.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.25 406.21 Td (19,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.25 406.21 Td (25,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.25 406.21 Td (33,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 406.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 392.21 Td (06/24/2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 183.85 392.21 Td (490,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 230.10 392.21 Td (5 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.25 392.21 Td (60,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.25 392.21 Td (60,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.75 392.21 Td (180,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.75 392.21 Td (185,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 392.21 Td (620,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 378.21 Td (06/24/2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.10 378.21 Td (28,626) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.85 378.21 Td (1 year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 302.00 378.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.00 378.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.00 378.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.25 378.21 Td (25,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 378.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 364.21 Td (06/19/2012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 183.85 364.21 Td (520,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 230.10 364.21 Td (5 years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.25 364.21 Td (37,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.25 364.21 Td (37,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.75 364.21 Td (111,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.75 364.21 Td (114,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.25 364.21 Td (86,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 351.01 Td (Totals for the period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.00 350.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.75 350.21 Td (167,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.00 350.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.75 350.21 Td (124,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 368.00 350.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.75 350.21 Td (443,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 350.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.75 350.21 Td (370,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.00 350.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 350.21 Td (1,028,000) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (Note 9. Stockholders) Tj ET Q q 0 0 0 rg BT 140.64 304.25 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (In June 2015, the Board of Directors terminated the Company's common stock repurchase plan. Pursuant to the Company) Tj ET Q q 0 0 0 rg BT 541.69 274.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 76.94 262.25 Td (Agreement with PNC, the Company is generally prohibited from repurchasing any shares of its stock except in cases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (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 454.58 250.25 Td (s common stock. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (April 4, 2016, the Company entered into ) Tj ET Q q 0 0 0 rg BT 214.14 238.25 Td (Amendment No. 12 to the Credit ) Tj ET Q q 0 0 0 rg BT 347.73 238.25 Td (Agreement with PNC which, among other things, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (amended the restrictions on cash dividends and share repurchases to allow repurchases under certain circumstances and within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (certain dollar limitations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (Note 10. Retir) Tj ET Q q 0 0 0 rg BT 109.52 184.25 Td (ement Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (The Company and its subsidiaries cover certain employees under a noncontributory defined benefit retirement plan, entitled the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.62 154.25 Td (irco Employees) Tj ET Q q 0 0 0 rg BT 121.69 154.25 Td ( Retirement Plan \(the Pension Plan\). Benefits under the Employees Retirement Plan are based on years of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (service and career average earnings. ) Tj ET Q q 0 0 0 rg BT 196.58 142.25 Td (As more fully described in the Form 10-K, benefit accruals under the Employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (Retirement Plan were frozen ef) Tj ET Q q 0 0 0 rg BT 174.76 130.25 Td (fective December31, 2003.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (The Company also provides a supplementary retirement plan for certain key employees, the ) Tj ET Q q 0 0 0 rg BT 419.70 112.25 Td (VIP) Tj ET Q q 0 0 0 rg BT 435.44 112.25 Td ( Retirement Plan \(the VIP) Tj ET Q q 0 0 0 rg BT 543.37 112.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (Plan\). ) Tj ET Q q 0 0 0 rg BT 80.37 100.25 Td (The ) Tj ET Q q 0 0 0 rg BT 98.23 100.25 Td (VIP) Tj ET Q q 0 0 0 rg BT 113.97 100.25 Td ( Plan provides a benefit of up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.50 100.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.83 100.25 Td ( of average compensation for the last ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.05 100.25 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.05 100.25 Td ( years in the ) Tj ET Q q 0 0 0 rg BT 468.96 100.25 Td (VIP) Tj ET Q q 0 0 0 rg BT 484.71 100.25 Td ( Plan, of) Tj ET Q q 0 0 0 rg BT 518.13 100.25 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (benefits earned under the Pension Plan. ) Tj ET Q q 0 0 0 rg BT 209.68 88.25 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 76.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 76.25 Td (fective December31, 2003.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (The Company also provides a non-qualified plan for certain former non-employee directors of the Company \(the Non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (Employee Directors Retirement Plan\). ) Tj ET Q q 0 0 0 rg BT 210.04 46.25 Td (The Non-Employee Directors Retirement Plan provides a lifetime annual retirement ) 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 (benefit equal to the director) Tj ET Q q 0 0 0 rg BT 160.88 742.10 Td () Tj ET Q q 0 0 0 rg BT 163.66 742.10 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 50.00 730.10 Td (Board, subject to the director having provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.62 730.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.62 730.10 Td ( years of service to the Company) Tj ET Q q 0 0 0 rg BT 377.59 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 382.04 730.10 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 50.00 718.10 Td (benefit accruals under this plan were frozen ef) Tj ET Q q 0 0 0 rg BT 235.00 718.10 Td (fective December31, 2003.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (The net periodic pension cost \(income\)for the Pension Plan, the ) Tj ET Q q 0 0 0 rg BT 309.20 700.10 Td (VIP) Tj ET Q q 0 0 0 rg BT 324.94 700.10 Td ( Plan, and the Non-Employee Directors Retirement Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (for the three months and nine months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.29 688.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.00 688.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.44 688.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.44 688.10 Td ( were as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 604.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 604.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 604.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 604.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 604.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 604.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 604.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 604.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 604.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 604.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 604.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 578.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 578.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 578.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 578.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 578.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 578.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 578.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 578.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 578.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 578.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 578.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 578.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 552.60 162.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 552.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 552.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 552.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 552.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 552.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 552.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 552.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 552.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 552.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 552.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 552.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 516.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 516.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 516.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 516.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 516.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 516.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 516.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 516.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 516.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 516.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 516.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 516.60 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 212.5 638.6 m 267.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 638.6 m 271.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 638.6 m 326.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 638.6 m 330.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 638.6 m 385.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 638.6 m 389.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 638.6 m 444.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 638.6 m 448.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 638.6 m 503.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 638.6 m 507.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 638.6 m 562.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 617.6 m 267.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 617.6 m 271.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 617.6 m 326.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 617.6 m 385.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 617.6 m 389.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 617.6 m 444.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 617.6 m 503.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 617.6 m 507.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 617.6 m 562.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 617.6 m 267.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 604.6 m 267.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 617.6 m 271.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 617.6 m 326.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 604.6 m 326.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 617.6 m 385.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 604.6 m 385.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 617.6 m 389.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 617.6 m 444.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 604.6 m 444.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 617.6 m 503.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 604.6 m 503.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 617.6 m 507.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 617.6 m 562.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 604.6 m 562.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 503.6 m 267.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 503.6 m 271.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 503.6 m 326.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 503.6 m 385.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 503.6 m 389.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 503.6 m 444.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 503.6 m 503.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 503.6 m 507.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 503.6 m 562.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 503.6 m 267.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 491.6 m 267.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 489.6 m 267.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 503.6 m 326.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 491.6 m 326.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 489.6 m 326.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 503.6 m 385.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 491.6 m 385.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 489.6 m 385.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 503.6 m 444.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 491.6 m 444.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 489.6 m 444.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 503.6 m 503.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 491.6 m 503.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 489.6 m 503.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 503.6 m 562.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 491.6 m 562.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 489.6 m 562.5 489.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.60 645.68 Td (Thr) Tj ET Q q 0 0 0 rg BT 363.79 645.68 Td (ee Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 630.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 246.85 621.83 Td (Pension Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.55 621.83 Td (VIP) Tj ET Q q 0 0 0 rg BT 384.89 621.83 Td ( Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.75 629.83 Td (Non-Employee Dir) Tj ET Q q 0 0 0 rg BT 526.82 629.83 Td (ectors ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.95 621.83 Td (Retir) Tj ET Q q 0 0 0 rg BT 494.57 621.83 Td (ement Plan) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 218.95 608.86 Td (10/31/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 277.95 608.86 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.95 608.86 Td (10/31/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.95 608.86 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.95 608.86 Td (10/31/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 513.95 608.86 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 595.86 Td (Service cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 595.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 595.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 274.00 595.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.00 595.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.00 595.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 595.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.00 595.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 595.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 595.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 595.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 595.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 595.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 582.86 Td (Interest cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.50 582.86 Td (296) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 582.86 Td (324) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 582.86 Td (90) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.50 582.86 Td (105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 582.86 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 582.86 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 569.86 Td (Expected return on plan assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 247.50 569.86 Td (\(284) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 264.00 569.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.50 569.86 Td (\(324) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 569.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 569.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 556.86 Td (Amortization of transition amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 556.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 543.06 Td (Recognized \(gain\) loss due to) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 534.06 Td (curtailments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 534.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.00 534.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 534.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 534.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 534.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 534.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 520.86 Td (Amortization of prior service cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.00 520.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.00 520.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 520.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 520.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 520.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 520.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 507.86 Td (Recognized net actuarial \(gain\) loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.50 507.86 Td (282) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 507.86 Td (375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.00 507.86 Td (77) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.50 507.86 Td (120) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 507.86 Td (\(29) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 507.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 507.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 494.86 Td (Benefit cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.00 494.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.50 494.86 Td (294) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 274.00 494.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.50 494.86 Td (375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.00 494.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 368.50 494.86 Td (167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.00 494.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.50 494.86 Td (225) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 494.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.00 494.86 Td (\(26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 494.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.00 494.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 494.86 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 419.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 419.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 419.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 419.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 419.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 419.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 419.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 419.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 419.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 419.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 419.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 419.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 393.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 393.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 393.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 393.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 393.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 393.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 393.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 393.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 393.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 393.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 393.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 393.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 367.60 162.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 367.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 367.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 367.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 367.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 367.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 367.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 367.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 367.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 367.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 367.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 367.60 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 331.60 162.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 331.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 331.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 331.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 331.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 331.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 331.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 331.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 331.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 331.60 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 331.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 331.60 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 211.5 458.6 m 266.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 458.6 m 270.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 458.6 m 325.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 458.6 m 329.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 458.6 m 384.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 458.6 m 388.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 458.6 m 443.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 458.6 m 447.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 458.6 m 502.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 458.6 m 506.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 458.6 m 561.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 434.6 m 266.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 434.6 m 270.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 434.6 m 325.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 434.6 m 384.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 434.6 m 388.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 434.6 m 443.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 434.6 m 502.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 434.6 m 506.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 434.6 m 561.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 434.6 m 266.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 419.6 m 266.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 434.6 m 270.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 434.6 m 325.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 419.6 m 325.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 434.6 m 384.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 419.6 m 384.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 434.6 m 388.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 434.6 m 443.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 419.6 m 443.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 434.6 m 502.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 419.6 m 502.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 434.6 m 506.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 434.6 m 561.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 419.6 m 561.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 318.6 m 266.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 318.6 m 270.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 318.6 m 325.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 318.6 m 384.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 318.6 m 388.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 318.6 m 443.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 318.6 m 502.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 318.6 m 506.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 318.6 m 561.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 318.6 m 266.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 303.6 m 266.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 301.6 m 266.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 318.6 m 325.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 303.6 m 325.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 301.6 m 325.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 318.6 m 384.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 303.6 m 384.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 301.6 m 384.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 318.6 m 443.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 303.6 m 443.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 301.6 m 443.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 318.6 m 502.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 303.6 m 502.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 301.6 m 502.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 318.6 m 561.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 303.6 m 561.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 301.6 m 561.5 301.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.20 466.68 Td (Nine months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 450.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 245.85 438.83 Td (Pension Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.55 438.83 Td (VIP Plan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.75 446.83 Td (Non-Employee Directors) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.95 438.83 Td (Retirement Plan) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.95 424.06 Td (10/31/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.95 424.06 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 335.95 424.06 Td (10/31/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.95 424.06 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.95 424.06 Td (10/31/2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.95 424.06 Td (10/31/2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 410.86 Td (Service cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 214.00 410.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.00 410.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.00 410.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.00 410.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 410.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.00 410.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 410.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 410.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 410.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 410.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 410.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 410.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 397.86 Td (Interest cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 249.50 397.86 Td (888) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.50 397.86 Td (972) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.50 397.86 Td (270) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.50 397.86 Td (315) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.50 397.86 Td (9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.50 397.86 Td (9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 384.86 Td (Expected return on plan assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 246.50 384.86 Td (\(852) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 263.00 384.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.50 384.86 Td (\(972) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 322.00 384.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.00 384.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 384.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 384.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 384.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 371.86 Td (Amortization of transition amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.00 371.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.00 371.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.00 371.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 371.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 371.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 371.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 358.06 Td (Recognized \(gain\) loss due to) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 349.06 Td (curtailments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 335.86 Td (Amortization of prior service cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.00 335.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.00 335.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.00 335.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 335.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 335.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 335.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 322.86 Td (Recognized net actuarial \(gain\) loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 249.50 322.86 Td (846) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 301.75 322.86 Td (1,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.50 322.86 Td (231) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.50 322.86 Td (360) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 322.86 Td (\(87) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 322.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 322.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.00 307.06 Td (Benefit cost) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 214.00 307.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 249.50 307.06 Td (882) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.00 307.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 301.75 307.06 Td (1,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 307.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.50 307.06 Td (501) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 307.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.50 307.06 Td (675) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 307.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.00 307.06 Td (\(78) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 307.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 307.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.50 307.06 Td (9) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 261.10 Td (Note 1) Tj ET Q q 0 0 0 rg BT 76.94 261.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 86.76 261.10 Td (W) Tj ET Q q 0 0 0 rg BT 96.21 261.10 Td (arranty ) Tj ET Q q 0 0 0 rg BT 130.92 261.10 Td (Accrual) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.10 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 50.00 231.10 Td (its standard warranty from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.30 231.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.30 231.10 Td ( years to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.68 231.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.68 231.10 Td (years. Ef) Tj ET Q q 0 0 0 rg BT 250.03 231.10 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 50.00 219.10 Td (lifetime warranty) Tj ET Q q 0 0 0 rg BT 118.49 219.10 Td (. ) Tj ET Q q 0 0 0 rg BT 123.31 219.10 Td (The new warranty ef) Tj ET Q q 0 0 0 rg BT 206.14 219.10 Td (fective February 1, 2014 is not anticipated to have a significant ef) Tj ET Q q 0 0 0 rg BT 468.65 219.10 Td (fect on warranty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 87.03 207.10 Td (The Company accrues an estimate of its exposure to warranty claims based upon both product sales data and an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (analysis of actual warranty claims incurred. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (The following is a summary of the Company) Tj ET Q q 0 0 0 rg BT 232.47 177.10 Td (s warranty-claim activity for the three months and nine months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.22 177.10 Td (October31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 165.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 165.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 165.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 109.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 109.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 109.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 109.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 109.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 109.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 109.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 109.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 79.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 79.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 79.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 79.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 79.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 79.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 79.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 79.60 65.00 -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 287 135.60000000000002 m 354 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 135.60000000000002 m 358 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 135.60000000000002 m 422 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 135.60000000000002 m 490 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 135.60000000000002 m 495 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 135.60000000000002 m 560 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 122.60000000000002 m 354 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 122.60000000000002 m 422 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 135.60000000000002 m 490 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 122.60000000000002 m 490 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 135.60000000000002 m 495 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 135.60000000000002 m 560 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 122.60000000000002 m 560 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 64.60000000000002 m 354 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 50.60000000000002 m 354 50.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 48.60000000000002 m 354 48.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 64.60000000000002 m 422 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 50.60000000000002 m 422 50.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 48.60000000000002 m 422 48.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 64.60000000000002 m 490 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 50.60000000000002 m 490 50.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 48.60000000000002 m 490 48.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 64.60000000000002 m 560 64.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 50.60000000000002 m 560 50.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 48.60000000000002 m 560 48.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.50 139.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.60 139.83 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.75 139.83 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 126.83 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.25 126.83 Td (10/31/2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.75 126.83 Td (10/31/2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.75 126.83 Td (10/31/2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.00 114.55 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 100.17 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 99.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 99.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.50 99.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 99.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.50 99.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 99.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 99.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 99.27 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 85.17 Td (Provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 84.27 Td (155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 84.27 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 84.27 Td (331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 84.27 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 70.17 Td (Costs incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.80 69.32 Td (\(155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 69.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.80 69.32 Td (\(89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 69.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 69.32 Td (\(331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 69.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 69.32 Td (\(282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.15 69.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 55.17 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 54.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.65 54.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.50 54.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 54.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.50 54.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 54.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 54.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 54.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 33 0 obj <> 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 50.00 718.10 Td (Note 12. Subsequent Events) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 700.10 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 50.00 688.10 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 50.00 676.10 Td (was determined that no subsequent events occurred that required recognition or disclosure in the financial statements.) 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 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 (The Company) Tj ET Q q 0 0 0 rg BT 109.71 700.25 Td (s business activity and results of operations for the three and nine month periods ended October 31, 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (reflected a modest improvement in revenue with stable operating profit compared to the prior year) Tj ET Q q 0 0 0 rg BT 442.64 688.25 Td (. Most states tax revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (have recovered to levels existing prior to the 2008 recession and the Company) Tj ET Q q 0 0 0 rg BT 366.02 676.25 Td (s order rates have been reflecting this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (improvement. However) Tj ET Q q 0 0 0 rg BT 147.07 664.25 Td (, bond funded new school construction and major renovations continue to remain at levels well below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (levels experienced prior to the recession.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.62 634.25 Td (irco) Tj ET Q q 0 0 0 rg BT 74.95 634.25 Td (s business is extremely seasonal, with approximately 50% of the company) Tj ET Q q 0 0 0 rg BT 374.60 634.25 Td (s annual revenue occurring in the months of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (June, July) Tj ET Q q 0 0 0 rg BT 89.35 622.25 Td (, and ) Tj ET Q q 0 0 0 rg BT 110.74 622.25 Td (August. Orders are nearly as seasonal with approximately 45% of annual orders received in May) Tj ET Q q 0 0 0 rg BT 499.40 622.25 Td (, June, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (July) Tj ET Q q 0 0 0 rg BT 66.02 610.25 Td (. ) Tj ET Q q 0 0 0 rg BT 70.84 610.25 Td (T) Tj ET Q q 0 0 0 rg BT 76.25 610.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 107.81 610.25 Td (, June is the lar) Tj ET Q q 0 0 0 rg BT 167.90 610.25 Td (gest month for orders followed by July) Tj ET Q q 0 0 0 rg BT 322.78 610.25 Td (. ) Tj ET Q q 0 0 0 rg BT 327.60 610.25 Td (The current year lar) Tj ET Q q 0 0 0 rg BT 406.53 610.25 Td (gely followed the traditional seasonal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (norms, with a slight shift from orders traditionally received in July shifting to ) Tj ET Q q 0 0 0 rg BT 361.62 598.25 Td (August.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (Y) Tj ET Q q 0 0 0 rg BT 56.22 580.25 Td (ear) Tj ET Q q 0 0 0 rg BT 68.23 580.25 Td (-to-date net sales at October 31, 2016 increased by less than 1% to $149,976,000 in the current year compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td ($149,100,000 in the same period last year) Tj ET Q q 0 0 0 rg BT 216.63 568.25 Td (. Our order backlog at October 31, 2016 increased by approximately $0.5 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (compared to the prior year) Tj ET Q q 0 0 0 rg BT 155.51 556.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (For the three months ended October31, 2016, the Company earned a pre-tax profit of $6,206,000 compared to a pre-tax profit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (of $6,140,000 in the same period last year) Tj ET Q q 0 0 0 rg BT 217.46 526.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (Net sales for the three months ended October31, 2016 increased to $67,795,000, an increase of $2,814,000, or 4.3%, compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (to $64,981,000 during the same period last year) Tj ET Q q 0 0 0 rg BT 240.24 496.25 Td (. ) Tj ET Q q 0 0 0 rg BT 245.06 496.25 Td (The increase was primarily attributable to increases in selling volume.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 91.20 478.25 Td (gin as a percentage of sales for the three months ended October 31, 2016 improved to 35.9% compared to 35.7% in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (the prior year) Tj ET Q q 0 0 0 rg BT 103.31 466.25 Td (. ) Tj ET Q q 0 0 0 rg BT 108.13 466.25 Td (The increased gross mar) Tj ET Q q 0 0 0 rg BT 205.41 466.25 Td (gin was attributable to stable selling prices and material costs and ef) Tj ET Q q 0 0 0 rg BT 477.65 466.25 Td (ficiencies in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (production due to our enhanced stocking program. ) Tj ET Q q 0 0 0 rg BT 256.71 454.25 Td (The Company incurred higher steel prices for purchases in the quarter) Tj ET Q q 0 0 0 rg BT 536.21 454.25 Td (, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (the majority of goods sold were produced earlier in the year and did not bear the higher steel costs. For the current year the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Company carried lar) Tj ET Q q 0 0 0 rg BT 132.01 430.25 Td (ger quantities of inventory going in to the seasonally high shipping season which facilitated ef) Tj ET Q q 0 0 0 rg BT 508.41 430.25 Td (ficiencies in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (both manufacturing and service costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (Improvements in mar) Tj ET Q q 0 0 0 rg BT 135.91 400.25 Td (gin were of) Tj ET Q q 0 0 0 rg BT 181.26 400.25 Td (fset by an increase in variable selling expenses, technology expenses, and general and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (administrative expenses. Interest expense decreased slightly compared to the prior year) Tj ET Q q 0 0 0 rg BT 397.93 388.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (For the nine months ended October31, 2016, the Company earned a pre-tax profit of $10,123,000 compared to a pre-tax profit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (of $10,490,000 in the same period last year) Tj ET Q q 0 0 0 rg BT 222.46 358.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (Net sales for the nine months ended October31, 2016 were $149,976,000, an increase of $876,000 or 0.6% increase, compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (to $149,100,000 in the same period last year) Tj ET Q q 0 0 0 rg BT 226.91 328.25 Td (. ) Tj ET Q q 0 0 0 rg BT 231.73 328.25 Td (This increase was the result of an increase in unit volume.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 91.20 310.25 Td (gin as a percentage of sales improved to 37.4% for the nine months ended October31, 2016 compared to 37.2% in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (the same period last year) Tj ET Q q 0 0 0 rg BT 148.85 298.25 Td (. ) Tj ET Q q 0 0 0 rg BT 156.17 298.25 Td (The improvement in gross mar) Tj ET Q q 0 0 0 rg BT 279.30 298.25 Td (gin was attributable to stable selling prices and material costs, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 286.25 Td (ficiencies related to our earlier build of inventory) Tj ET Q q 0 0 0 rg BT 253.80 286.25 Td (, which of) Tj ET Q q 0 0 0 rg BT 293.89 286.25 Td (fset a slight reduction in production levels. Factory production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (hours for the nine months ended October 31, 2016 decreased by 3.5% compared to the prior year primarily due to the timing of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (production.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (Selling, general and administrative expenses for the nine months ended October31, 2016 increased by approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td ($1,144,000 compared to the same period last year) Tj ET Q q 0 0 0 rg BT 248.55 232.25 Td (. ) Tj ET Q q 0 0 0 rg BT 255.87 232.25 Td (This increase was the result of variable selling expenses, technology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (expenses, and general and administrative expenses. Interest expense decreased slightly compared to the prior year) Tj ET Q q 0 0 0 rg BT 504.83 220.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (The company incurred a significant increase in steel costs during the summer shipping season. Because the majority of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (products shipped during this period were manufactured earlier in the year) Tj ET Q q 0 0 0 rg BT 343.38 190.25 Td (, the cost of steel did not significantly impact mar) Tj ET Q q 0 0 0 rg BT 541.49 190.25 Td (gins. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (The cost may adversely impact fourth quarter sales. ) Tj ET Q q 0 0 0 rg BT 261.41 178.25 Td (The Company will implement pricing strategies beginning in the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (fiscal year to recover increased costs for steel.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 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 50.00 136.25 Td (assessing the realizability of deferred tax assets and net operating loss carryforwards, the Company considers whether it is more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (likely than not that some portion or all of the deferred tax assets will not be realized. Due to operating losses, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (established a valuation allowance against deferred tax assets in the fiscal year ended January 31, 201) Tj ET Q q 0 0 0 rg BT 452.26 112.25 Td (1. During the third quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (ended October 31, 2016, management concluded that the Company's return to consistent profitability made it more likely than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (not that the majority of the deferred tax assets would be realized and a $17,962,000 favorable adjustment to the valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (allowance was recorded. ) Tj ET Q q 0 0 0 rg BT 153.38 76.25 Td (This was a non-cash benefit.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 742.25 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Interest expense decreased for the nine months ended October31, 2016 compared to the same period last year) Tj ET Q q 0 0 0 rg BT 489.29 724.25 Td (. ) Tj ET Q q 0 0 0 rg BT 496.61 724.25 Td (This is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (primarily due to decreased average levels of borrowing under the Company's credit facility with PNC Bank to fund inventory) Tj ET Q q 0 0 0 rg BT 551.02 712.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (Borrowings under the Company's revolving line of credit with PNC Bank at October 31, 2016 increased by approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td ($650,000 compared to October 31, 2015 primarily due to increased levels of inventory and timing of payables.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Accounts receivable was lower at October31, 2016 than at October31, 2015. Because the Company carried lar) Tj ET Q q 0 0 0 rg BT 498.27 670.25 Td (ger inventories ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (going in to the seasonally high summer shipping period, the Company was able to improve customer service and ship a higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (proportion of complete orders. ) Tj ET Q q 0 0 0 rg BT 177.01 646.25 Td (The enhanced customer service facilitated faster collection of receivables and contributed to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (lower receivable balance at October 31, 2016 despite increasing sales by more than 4% in the third quarter revenue. ) Tj ET Q q 0 0 0 rg BT 517.42 634.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (Company traditionally builds lar) Tj ET Q q 0 0 0 rg BT 180.08 622.25 Td (ge quantities of inventory during the first and second quarters of each fiscal year in anticipation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (of seasonally high summer shipments. ) Tj ET Q q 0 0 0 rg BT 204.99 610.25 Td (At the end of the third quarter) Tj ET Q q 0 0 0 rg BT 323.99 610.25 Td (, inventory increased by approximately $2,950,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (compared to January31, 2016 and increased by $4,487,000 compared to October 31, 2015. ) Tj ET Q q 0 0 0 rg BT 419.72 598.25 Td (The increased levels of inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (are carried to support an enhanced quick ship program which promises shipment of a variety of education products within 72 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (hours and improved performance on a wide variety of education furniture. ) Tj ET Q q 0 0 0 rg BT 351.66 574.25 Td (The seasonal fluctuation in inventory levels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (\(including the typically lar) Tj ET Q q 0 0 0 rg BT 156.18 562.25 Td (ge buildup in inventory during the first and second quarters\) was financed through the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (credit facility with PNC Bank and cash provided by operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (The Company adopted a goal of limiting capital spending to less than $4,000,000 for fiscal year ending January 31, 2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (which is less than the Company's anticipated depreciation expense. Capital spending for the nine months ended October31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (2016 exceeded our tar) Tj ET Q q 0 0 0 rg BT 138.39 508.25 Td (get and was $3,239,000 compared to $3,583,000 for the same period last year) Tj ET Q q 0 0 0 rg BT 448.31 508.25 Td (. ) Tj ET Q q 0 0 0 rg BT 453.13 508.25 Td (The capital expenditures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (were lar) Tj ET Q q 0 0 0 rg BT 82.29 496.25 Td (gely attributable to spending on information systems and other technology) Tj ET Q q 0 0 0 rg BT 379.09 496.25 Td (. Capital expenditures are being financed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (through the Company's credit facility with PNC Bank and cash flow from operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Net cash provided by operating activities for the nine months ended October31, 2016, was $6,967,000 compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td ($10,294,000 for the same period last year) Tj ET Q q 0 0 0 rg BT 215.51 454.25 Td (. ) Tj ET Q q 0 0 0 rg BT 220.33 454.25 Td (The decrease was primarily attributable to increased levels of inventory and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (decrease in accounts payable and accrued liabilities. ) Tj ET Q q 0 0 0 rg BT 260.83 442.25 Td (The Company has generally relied upon its cash flows from operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (unused borrowing capacity with PNC Bank \(which was $15,020,000 as of October 31, 2016\) to fund the Company's capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (expenditures and working capital needs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (The Company believes that cash flows from operations, together with the Company's unused borrowing capacity with PNC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (Bank will be suf) Tj ET Q q 0 0 0 rg BT 115.64 388.25 Td (ficient to fund the Company's capital expenditures and working capital needs for the next twelve months.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (Off Balance Sheet ) Tj ET Q q 0 0 0 rg BT 128.60 370.25 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 84.71 328.25 Td (Accounting Policies and Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (The Company's critical accounting policies are outlined in its Form 10-K. ) Tj ET Q q 0 0 0 rg BT 347.11 310.25 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 50.00 298.25 Td (October 31, 2016.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (From time to time, including in this Quarterly Report on Form 10-Q for the quarterly period ended October 31, 2016, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 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 50.00 232.25 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 50.00 220.25 Td (releases, oral statements made with the approval of an authorized executive of) Tj ET Q q 0 0 0 rg BT 362.47 220.25 Td (ficer of the Company and filings with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (Securities and Exchange Commission. ) Tj ET Q q 0 0 0 rg BT 206.18 208.25 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 50.00 196.25 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 50.00 184.25 Td (Securities Litigation Reform ) Tj ET Q q 0 0 0 rg BT 166.37 184.25 Td (Act of 1995. ) Tj ET Q q 0 0 0 rg BT 218.96 184.25 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 50.00 172.25 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 50.00 160.25 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 50.00 148.25 Td (cost of labor) Tj ET Q q 0 0 0 rg BT 99.58 148.25 Td (, demand for the Company's products, competitive conditions af) Tj ET Q q 0 0 0 rg BT 355.60 148.25 Td (fecting selling prices and mar) Tj ET Q q 0 0 0 rg BT 473.71 148.25 Td (gins, capital costs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 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 50.00 118.25 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 50.00 106.25 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 423.15 106.25 Td (, changed or unanticipated events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (or circumstances.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (Item3. Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 247.59 52.25 Td (es about Market Risk) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Item4. Contr) Tj ET Q q 0 0 0 rg BT 107.86 718.10 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 151.02 718.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 180.28 718.10 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 89.82 700.10 Td (e Contr) Tj ET Q q 0 0 0 rg BT 122.13 700.10 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 165.29 700.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 194.55 700.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 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 50.00 670.10 Td (including its Principal Executive Of) Tj ET Q q 0 0 0 rg BT 193.68 670.10 Td (ficer along with its Principal Financial Of) Tj ET Q q 0 0 0 rg BT 360.12 670.10 Td (ficer) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.44 670.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.94 670.10 Td ( of the ef) Tj ET Q q 0 0 0 rg BT 416.57 670.10 Td (fectiveness of the design and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (operation of our disclosure controls and procedures \(as defined in Rules 13a-15\(e\) under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 504.85 658.10 Td (Act of 1934 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (\(Exchange ) Tj ET Q q 0 0 0 rg BT 99.14 646.10 Td (Act\) as of October 31, 2016. Based upon the foregoing, the Company's Principal Executive Of) Tj ET Q q 0 0 0 rg BT 481.50 646.10 Td (ficer along with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Company's Principal Financial Of) Tj ET Q q 0 0 0 rg BT 185.77 634.10 Td (ficer concluded that the Company's disclosure controls and procedures as of such date were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 622.10 Td (fective to ensure that the information required to be disclosed in the Company) Tj ET Q q 0 0 0 rg BT 372.50 622.10 Td (s Exchange ) Tj ET Q q 0 0 0 rg BT 420.26 622.10 Td (Act reports is recorded, processed, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (summarized and reported within the time periods specified in the SEC) Tj ET Q q 0 0 0 rg BT 333.82 610.10 Td (s rules and forms, and that such information is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (accumulated and communicated to Company management, including its Principal Executive Of) Tj ET Q q 0 0 0 rg BT 432.76 598.10 Td (ficer and Principal Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Of) Tj ET Q q 0 0 0 rg BT 60.37 586.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 78.29 586.10 Td (, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (controls and procedures, Company management recognizes that any controls and procedures, no matter how well designed and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 162.89 514.10 Td (ol Over) Tj ET Q q 0 0 0 rg BT 194.64 514.10 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 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 50.00 484.10 Td (including its Principal Executive Of) Tj ET Q q 0 0 0 rg BT 193.68 484.10 Td (ficer along with its Principal Financial Of) Tj ET Q q 0 0 0 rg BT 360.12 484.10 Td (ficer) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.44 484.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.94 484.10 Td ( of the ef) Tj ET Q q 0 0 0 rg BT 416.57 484.10 Td (fectiveness of the design and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 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 505.95 472.10 Td (ficer along ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (with the Company's Principal Financial Of) Tj ET Q q 0 0 0 rg BT 220.76 460.10 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 50.00 448.10 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 350.74 448.10 Td (Act of 1934, as amended\) were ef) Tj ET Q q 0 0 0 rg BT 485.78 448.10 Td (fective as of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (end of the period covered by this Quarterly Report on Form 10-Q.) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) 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 is a party to various legal actions 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 actions, management believes that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 608.75 Td (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 (Y) Tj ET Q q 0 0 0 rg BT 56.22 560.75 Td (ou should carefully consider and evaluate the information in this Quarterly Report and the risk factors set forth in our ) Tj ET Q q 0 0 0 rg BT 527.20 560.75 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 548.75 Td (Report on Form 10-K for the fiscal year ended January 31, 2016, which was filed with the SEC on ) Tj ET Q q 0 0 0 rg BT 448.25 548.75 Td (April 26, 2016. ) Tj ET Q q 0 0 0 rg BT 511.68 548.75 Td (The risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 536.75 Td (factors associated with our business have not materially changed compared to the risk factors disclosed in the Form 10-K. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 506.75 Td (Item2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.49 506.75 Td (Unr) Tj ET Q q 0 0 0 rg BT 99.53 506.75 Td (egister) Tj ET Q q 0 0 0 rg BT 127.67 506.75 Td (ed Sales of Equity Securities, Use of Pr) Tj ET Q q 0 0 0 rg BT 292.47 506.75 Td (oceeds and Issuer) Tj ET Q q 0 0 0 rg BT 367.29 506.75 Td ( Pur) Tj ET Q q 0 0 0 rg BT 385.72 506.75 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 50.00 488.75 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 464.75 Td (Item3. Defaults Upon Senior) Tj ET Q q 0 0 0 rg BT 173.98 464.75 Td ( Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.75 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 422.75 Td (Item4. Mine Safety Disclosur) Tj ET Q q 0 0 0 rg BT 176.19 422.75 Td (es ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.75 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 380.75 Td (Item5. Other) Tj ET Q q 0 0 0 rg BT 107.86 380.75 Td ( Information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.75 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 338.75 Td (Item6. Exhibits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 320.75 Td (Exhibit31.1 Certification of Robert ) Tj ET Q q 0 0 0 rg BT 207.48 320.75 Td (A. ) Tj ET Q q 0 0 0 rg BT 219.52 320.75 Td (V) Tj ET Q q 0 0 0 rg BT 226.14 320.75 Td (irtue, Chief Executive Of) Tj ET Q q 0 0 0 rg BT 327.03 320.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 344.95 320.75 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 50.00 308.75 Td (Securities Exchange ) Tj ET Q q 0 0 0 rg BT 133.31 308.75 Td (Act, as adopted pursuant to section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 384.63 308.75 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.75 Td (Exhibit31.2 Certification of Robert E. Dose, ) Tj ET Q q 0 0 0 rg BT 244.51 290.75 Td (V) Tj ET Q q 0 0 0 rg BT 251.13 290.75 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 50.00 278.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.37 278.75 Td (Act, as adopted pursuant to section 302 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 342.70 278.75 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.75 Td (Exhibit32.1 Certification of Principal Executive Of) Tj ET Q q 0 0 0 rg BT 269.77 260.75 Td (ficer and Principal Financial Of) Tj ET Q q 0 0 0 rg BT 396.21 260.75 Td (ficer pursuant to 18 U.S.C. Section1350, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.75 Td (as adopted pursuant to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 283.56 248.75 Td (Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.75 Td (Exhibit101.INS XBRL) Tj ET Q q 0 0 0 rg BT 156.86 230.75 Td ( Instance Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.75 Td (Exhibit101.SCH XBRL) Tj ET Q q 0 0 0 rg BT 160.20 212.75 Td ( ) Tj ET Q q 0 0 0 rg BT 162.51 212.75 Td (T) Tj ET Q q 0 0 0 rg BT 167.92 212.75 Td (axonomy Extension Schema Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.75 Td (Exhibit101.CAL) Tj ET Q q 0 0 0 rg BT 119.07 194.75 Td ( XBRL) Tj ET Q q 0 0 0 rg BT 160.37 194.75 Td ( ) Tj ET Q q 0 0 0 rg BT 162.69 194.75 Td (T) Tj ET Q q 0 0 0 rg BT 168.10 194.75 Td (axonomy Extension Calculation Linkbase Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.75 Td (Exhibit101.LAB XBRL) Tj ET Q q 0 0 0 rg BT 160.74 176.75 Td ( ) Tj ET Q q 0 0 0 rg BT 163.06 176.75 Td (T) Tj ET Q q 0 0 0 rg BT 168.47 176.75 Td (axonomy Extension Label Linkbase Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.75 Td (Exhibit101.PRE XBRL) Tj ET Q q 0 0 0 rg BT 159.08 158.75 Td ( ) Tj ET Q q 0 0 0 rg BT 161.40 158.75 Td (T) Tj ET Q q 0 0 0 rg BT 166.81 158.75 Td (axonomy Extension Presentation Linkbase Document.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) 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: December 13, 2016) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 357.00 526.51 Td (\(Principal Financial Officer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 45 0 obj <> endobj 46 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: December 13, 2016) 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 47 0 obj <> endobj 48 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 53.00 222.32 Td (Date: December 13, 2016) 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 49 0 obj <> endobj 50 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. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.25 Td (Date: December 13, 2016) 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. 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