10-K
2011-12-31
false
UTAH MEDICAL PRODUCTS INC
0000706698
--12-31
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Accelerated Filer
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<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 1 – Summary of Significant Accounting Policies</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Organization</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Utah Medical Products, Inc. and its wholly owned subsidiaries, Femcare Holdings Ltd, with headquarters located in Romsey, Hampshire, England, and Utah Medical Products Ltd., which operates a manufacturing facility in Athlone, Ireland, (the Company) are in the primary business of producing specialized medical devices for the healthcare industry. The Company’s broad range of products includes those used in critical care areas and the labor and delivery departments of hospitals, as well as outpatient clinics and physicians’ offices. Products are sold in both domestic U.S. and international markets.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Use of Estimates in the Preparation of Financial Statements</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although actual results could differ from those estimates, management believes it has considered and disclosed all relevant information in making its estimates that materially affect reported performance and current values.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Principles of Consolidation</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The consolidated financial statements include those of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Cash and Cash Equivalents</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">For purposes of the consolidated statement of cash flows, the Company considers cash on deposit and short-term investments with original maturities of three months or less to be cash and cash equivalents.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Investments</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company classifies its investments as “available for sale.” Securities classified as “available for sale” are carried in the financial statements at fair value. Realized gains and losses, determined using the specific identification method, are included in operations; unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive income. Declines in fair value below cost that are other than temporary are included in operations. As of December 31, 2011 the Company’s investments are in General Electric (GE) and Citigroup (C)<font style="DISPLAY:inline">.</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Concentration of Credit Risk</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The primary concentration of credit risk consists of trade receivables. In the normal course of business, the Company provides credit terms to its customers. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which, when realized, have been within the range of management's expectations as reflected by its reserves.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company's customer base consists of hospitals, medical product distributors, physician practices and others directly related to healthcare providers, as well as other manufacturing companies. Although the Company is affected by the well-being of the global healthcare industry, management does not believe significant trade receivable credit risk exists at December 31, 2011 except under an extreme global financial crisis.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company maintains its cash in bank deposit accounts in addition to Fidelity Investment accounts. The Company has not experienced any losses in such accounts and believes it is not exposed to a significant credit risk on cash and cash equivalent balances.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Accounts Receivable</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accounts receivable are amounts due on product sales and are unsecured. Accounts receivable are carried at their estimated collectible amounts. Credit is generally extended on a short-term basis; thus accounts receivable do not bear interest although a finance charge may be applied to such receivables that are past the due date. Accounts receivable are periodically evaluated for collectibility based on past credit history of customers. Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions (see note 2).</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Inventories</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Finished products, work-in-process, raw materials and supplies inventories are stated at the lower of cost (computed on a first-in, first-out method) or market (see note 2).</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Property and Equipment</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Property and equipment are stated at cost. Depreciation and amortization are computed using the straight-line and units-of-production methods over estimated useful lives as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="40%" cellpadding="0" cellspacing="0"> <tr bgcolor="white"> <td width="30%" align="left" valign="top"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Building and improvements</font></div></td> <td width="10%" style="TEXT-ALIGN:right" valign="top"> <div style="TEXT-ALIGN:right; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">15-40 years</font></div></td></tr> <tr bgcolor="white"> <td width="30%" align="left" valign="top"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Furniture, equipment and tooling</font></div></td> <td width="10%" style="TEXT-ALIGN:right" valign="top"> <div style="TEXT-ALIGN:right; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">3-10 years</font></div></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Long-Lived Assets</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company evaluates its long-lived assets in accordance with Accounting Standards Codification (ASC) 360, “Accounting for the Impairment of Long-Lived Assets.” Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets and is recorded in the period in which the determination was made.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Intangible Assets</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Costs associated with the acquisition of patents, trademarks, trade names, customer relationships, regulatory approvals & product certifications, license rights and non-compete agreements are capitalized and are being amortized using the straight-line method over periods ranging from 5 to 20 years. UTMD’s goodwill is tested for impairment annually, in the fourth quarter of each year, using a fair value measurement test, in accordance with ASC 350. UTMD would also perform an impairment test, between annual tests, if circumstances changed that would more than likely reduce the fair value of goodwill below its net book value. If UTMD determined that its goodwill were impaired, a second step would be completed to measure the amount of the impairment loss. UTMD does not expect its goodwill to become impaired in the foreseeable future. Estimated future amortization expense on intangible assets currently held, using 1.57 USD/GBP currency exchange rate, is about $2,505 in 2012, $2,504 in 2013, $2,500 in 2014, $2,499 in 2015 and $2,467 in 2016 (see note 2). The weighted average amortization period for intangible assets purchased in 2011 was 5 years for non-compete agreements, 11 years for patents, and 15 years for trademarks, trade name, customer relationships, regulatory approvals and product certifications.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Loans to Related Parties</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">As a general policy, the Company does not make loans to related entities including employees, directors, shareholders, suppliers or customers. UTMD was able to manage its A/R balances to achieve an average aging of 41 days from date of invoice by the end of the year, and A/R balances over 90 days from date of invoice to 4% of total A/R. Both of these measures are historically lower than normal. As an exception in 2009, the Company extended partial payment terms to an OEM customer that converted to a three-year term loan of $70 on July 1, 2010. The balance on the note was $39 at year-end 2011. The loan is secured by personal guarantees provided by the principals of the customer. UTMD believes that this was a wise use of its liquidity to build goodwill with a customer at an unusual time, which should ultimately help grow UTMD's business.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Revenue Recognition</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company recognizes revenue at the time of shipment as title generally passes to the customer at the time of shipment. Revenue recognized by UTMD is based upon documented arrangements and fixed contracts in which the selling price is fixed prior to completion of an order. Revenue from product and service sales is generally recognized at the time the product is shipped or service completed and invoiced, and collectibility is reasonably assured. There are circumstances under which revenue may be recognized when product is not shipped, which meet the criteria of SAB 104: the Company provides engineering services, for example, design and production of manufacturing tooling that may be used in subsequent UTMD manufacturing of custom components for other companies. This revenue is recognized when UTMD’s service has been completed according to a fixed contractual agreement.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Income Taxes</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company accounts for income taxes under ASC 740, “Accounting for Income Taxes,” whereby deferred taxes are computed under the asset and liability method.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, in Utah, in the United Kingdom, in Australia and in Ireland. UTMD is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2008. In 2010, the Internal Revenue Service (IRS) examined the Company’s federal income tax return for 2008 and did not propose any adjustments.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company recognizes interest accrued related to unrecognized tax benefits in interest expenses and any related penalties in income taxes. During the year ended December 31, 2009 the Company recognized $10 in interest expense related to a 2009 settlement with the IRS, compared to none in 2010 and 2011. The Company did not have any related tax penalties in any of the three years.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Legal Costs</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company has been involved in lawsuits which are an expected consequence of its operations and in the ordinary course of business. The Company maintains a reserve for legal costs which are probable and estimated based on previous experience. The reserve for legal costs at December 31, 2011 and 2010 was $301 and $74, respectively (see note 2).</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Earnings per Share</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The computation of basic earnings per common share is based on the weighted average number of shares outstanding during each year.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The computation of earnings per common share assuming dilution is based on the weighted average number of shares outstanding during the year plus the weighted average common stock equivalents which would arise from the exercise of stock options outstanding using the treasury stock method and the average market price per share during the year.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The shares (in thousands) used in the computation of the Company’s basic and diluted earnings per share are reconciled as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div align="center"> <table width="80%" cellpadding="0" cellspacing="0"> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Weighted average number of shares outstanding – basic</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,631</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,621</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,607</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Dilutive effect of stock options</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">22</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">23</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Weighted average number of shares outstanding, assuming dilution</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,645</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,643</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,630</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Presentation of Sales and Similar Taxes</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Sales tax on revenue-producing transactions is recorded as a liability when the sale occurs. UTMD is not required to withhold sales tax on international sales, and at least 90% of domestic 2011 sales were to customers who are tax exempt or who are in jurisdictions where UTMD is not required to withhold sales tax.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Stock-Based Compensation</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">At December 31, 2011, the Company has stock-based employee compensation plans, which are described more fully in note 10. The Company accounts for stock compensation under ASC 718, <font style="FONT-STYLE:italic; DISPLAY:inline">Share-Based Payment</font>. This statement requires the Company to recognize compensation cost based on the grant date fair value of options granted to employees and directors. In 2011, the Company recognized $95 in compensation cost compared to $83 in 2010 and $98 in 2009.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Translation of Foreign Currencies</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at the applicable exchange rates at year-end. Net gains or losses resulting from the translation of the Company’s assets and liabilities are reflected as a separate component of stockholders’ equity. A negative translation impact on stockholders’ equity reflects a current relative U.S. Dollar value higher than at the point in time that assets were actually acquired in a foreign currency. A positive translation impact would result from a U.S. dollar weaker in value than at the point in time foreign assets were acquired.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Income and expense items are translated at the weighted average rate of exchange (based on when transactions actually occurred) during the year.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 2 – Detail of Certain Balance Sheet Accounts</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="34%" colspan="6" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="15%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="15%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" colspan="2" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accounts and other receivables:</font></div></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="15%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="15%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accounts receivable</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,584</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2,968</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Income tax receivable</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">161</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">128</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accrued interest and other</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">113</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">116</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Less allowance for doubtful accounts</font></div></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(124</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(48</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,734</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,164</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Inventories:</font></div></td> <td width="58%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Finished products</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2,518</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,008</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Work-in-process</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">795</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">757</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Raw materials</font></div></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,692</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,332</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,005</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,097</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" colspan="2" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Other intangible assets:</font></div></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Patents</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2,017</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,913</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Non-compete agreements</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">155</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Trademarks & trade names</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">11,361</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">252</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Customer relationships</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">11,109</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Regulatory approvals & product certifications</font></div></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,819</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">39,461</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2,165</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accumulated amortization</font></div></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(4,012</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(2,010</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">35,449</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">155</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" colspan="2" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accrued expenses:</font></div></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Income taxes payable</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,069</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">197</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Payroll and payroll taxes</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,475</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">878</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Reserve for litigation costs</font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">301</font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">74</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="6%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Other</font></div></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">431</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="13%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">141</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="6%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="58%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,276</font></td> <td width="2%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="13%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,290</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 3 – Investments</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company’s investments, classified as available-for-sale consist of the following:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="38%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="20%" colspan="6" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Investments, at cost</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">380</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">15,029</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Equity securities:</font></div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">-Unrealized holding gains</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">-Unrealized holding (losses)</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(316</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(311</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Investments, at fair value</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">64</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,718.</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Changes in the unrealized holding loss on investment securities available-for-sale and reported as a separate component of accumulated other comprehensive income are as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="38%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="20%" colspan="6" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Balance, beginning of year</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(190</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(235</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="white"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Realized loss from securities included in beginning balance</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">18</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">43</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Gross unrealized holding gains (losses) in equity securities</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(23</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Deferred income taxes on unrealized holding loss</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(29</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Balance, end of year</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(193</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(190</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">During 2011, 2010 and 2009, UTMD had proceeds from sales of available-for-sale securities of $15,155, $5,839 and $1,116, respectively.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 4 – Fair Value Measurements</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company follows a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company uses the following valuation techniques to measure fair value for its assets and liabilities:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div> <table width="100%" cellpadding="0" cellspacing="0"> <tr> <td width="5%" style="TEXT-ALIGN:center" valign="top"><font style="DISPLAY:inline"> </font><font style="DISPLAY:inline">Level 1 -</font></td> <td width="95%" align="left" valign="top"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Quoted market prices in active markets for identical assets or liabilities;</font></div></td></tr> <tr> <td width="5%" style="TEXT-ALIGN:center" valign="top"><font style="DISPLAY:inline"> </font><font style="DISPLAY:inline">Level 2 -</font></td> <td width="95%" align="left" valign="top"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Significant other observable inputs (e.g. quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs);</font></div></td></tr> <tr> <td width="5%" style="TEXT-ALIGN:center" valign="top"><font style="DISPLAY:inline"> </font><font style="DISPLAY:inline">Level 3 -</font></td> <td width="95%" align="left" valign="top"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Unobservable inputs for the asset or liability, which are valued based on management’s estimates of assumptions that market participants would use in pricing the asset or liability.</font></div></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The following table provides financial assets carried at fair value measured as of December 31 for the past two years:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <div align="center"> <table width="80%" cellpadding="0" cellspacing="0"> <tr> <td width="34%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="19%" colspan="7" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Level 1</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="19%" colspan="7" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Levels 2 & 3</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="19%" colspan="7" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="34%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="3" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="3" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="3" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="3" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="3" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="3" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="34%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Money market funds</font></div></td> <td width="1%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,490</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,490</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="34%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Equities</font></div></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">64</font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">228</font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">64</font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">228</font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="34%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">64</font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,718</font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="7%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">64</font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="7%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,718</font></td></tr></table></div></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 5 – Property and Equipment</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Property and equipment consists of the following:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="38%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="20%" colspan="6" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Land</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,372</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,381</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Buildings and improvements</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">10,309</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">10,369</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Furniture, equipment and tooling</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,983</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,364</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Construction-in-progress</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">179</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">65</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26,843</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26,179</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accumulated depreciation and amortization</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(18,038</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(17,429</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="white"> <td width="38%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" style="PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">8,805</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">8,750</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Included in the Company’s consolidated balance sheet are the assets of its manufacturing and administrative facilities in Utah, England and Ireland. Property and equipment, by location, are as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="16%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="42%" colspan="14" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31, 2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="16%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Utah</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">England</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Ireland</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="16%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Land</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">926</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">446</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,372</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Building and improvements</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,589</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,720</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">10,309</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Furniture, equipment and tooling</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">13,456</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">600</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">927</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,983</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="16%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Construction-in-progress</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">168</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">11</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">179</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">20,139</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">600</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,104</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26,843</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="16%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accumulated depreciation</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(15,582</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(101</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(2,355</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(18,038</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="white"> <td width="16%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Property and equipment, net</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,557</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">500</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,748</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">8,805</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="27%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="31%" colspan="10" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31, 2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Utah</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Ireland</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Land</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">926</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">455</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">,381</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Building and improvements</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,570</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,799</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">10,369</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Furniture, equipment and tooling</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">13,408</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">956</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">14,364</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Construction-in-progress</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">65</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">65</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">19,969</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,210</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26,179</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accumulated depreciation</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(15,182</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(2,247</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(17,429</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="white"> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Property and equipment, net</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,787</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,963</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">8,750</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 6 – Acquisition</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">On March 18, 2011, UTMD purchased all of the common shares of Femcare Holdings Ltd (Femcare) of the United Kingdom, and its subsidiaries. Femcare is best known for its leading global brand the Filshie Clip System – a female surgical contraception device (tubal ligation). UTMD expects the business combination will provide diversification, expansion and integration benefits that each company separately did not have the opportunity to achieve. The acquisition was accretive to financial performance in 2011 and UTMD expects that will also be the case in future years.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">While UTMD used its best estimates and assumptions as a part of the $41 million purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, UTMD will record adjustments to the assets acquired and liabilities assumed. Upon the conclusion of the measurement period or final determination of the values of assets or liabilities assumed, whichever comes first, any subsequent adjustments will be recorded to consolidated statements of operations. UTMD believes that the accounting of fixed assets is complete, but liabilities and intangible asset balances remain uncertain. During the quarter ended December 31, 2011, residual adjustments to initial valuations for prepaid expenses, goodwill and accrued expenses were made, but no adjustment was made to the purchase price or the value of identifiable intangibles.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:-1.8pt" align="left"><font style="DISPLAY:inline">A two-year $3.2 million escrow was set aside from the purchase price to back the warranties and representations of the sellers. The March 18, 2011 purchase price allocation is currently as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Assets Acquired</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accounts receivable</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">$</font></div></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">2,176</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Prepaid expenses</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">773</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Inventory</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">1,319</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Property and equipment</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">606</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Identifiable intangibles</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Patents</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">97</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Non-compete agreements</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">162</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Trademarks, trade names</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">11,559</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Customer relationships</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">11,559</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Regulatory approvals & product certifications</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">15,419</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Goodwill</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">8,249</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total assets acquired</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">51,919</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Liabilities Assumed</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accounts payable</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">1,107</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accrued expenses</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">644</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Deferred tax liability</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">9,084</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total liabilities assumed</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">10,835</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="49%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="49%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Net assets acquired</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">$</font></div></td> <td width="8%" style="BORDER-BOTTOM:black 4px double" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">41,084</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">With respect to the assets acquired from Femcare, UTMD will amortize the patents and noncompete agreements over 10 and 5 years, respectively. The remaining $38,537 in identifiable intangibles will be amortized over 15 years. The $9,084 in deferred tax liability results from the difference between the book basis and tax basis of the accumulated amortization of identifiable intangible assets. The deferred tax liability will decline to zero over 15 years as the tax basis of the intangibles declines. Goodwill was measured as the excess of the purchase consideration paid over the fair value of the net assets acquired. The $8,249 in goodwill will not be amortized, but will be written down if and when the value becomes impaired.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company incurred $341 in acquisition-related expenses, all of which are categorized under General and Administrative expenses in the Consolidated Statements of Income for the year ended December 31, 2011. A portion, $266, of the acquisition-related expenses was not tax deductible.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="FONT-STYLE:italic; DISPLAY:inline">Pro forma Information</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Revenue for the year ended December 31, 2011 includes revenue from Femcare of $13,275. Net income from Femcare (after tax) in 2011 was $2,326.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Revenue and net income of the combined entity as though the business combination occurred as of the beginning of the reporting period is:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="38%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">Year ended</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">December 31, 2011</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Year ended</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31, 2010</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Revenue</font></div></td> <td width="1%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">$</font></div></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">41,780</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">$</font></div></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:7.05pt" align="right"><font style="DISPLAY:inline">40,488</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="38%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Net income</font></div></td> <td width="1%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">8,235</font></div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:7.05pt" align="right"><font style="DISPLAY:inline">7,027</font></div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Pro forma net income of $8,235 for the year ended December 31, 2011 does not include $341 in UTMD legal costs directly attributable to the acquisition, and $1,765 in Femcare expenses for employee shareholder bonuses, loan redemption premium related to termination of ownership, buy-out of warrants, financial advisory fees and an insurance premium for sellers’ liability which are directly attributable to the acquisition.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 7 – Long-term Debt</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">In March 2011, the Company obtained a $14,000 loan from JPMorgan Chase Bank, N.A. (Chase), to help finance the purchase of Femcare. The terms and conditions of the loan require UTMD to a) repay the loan principal in equal monthly payments over 5 years, b) pay interest based on the 30-day LIBOR rate plus a margin starting at 2.80% and ranging from 2.00% to 3.75%, depending on the ratio of its funded debt to EBITDA (Leverage Ratio), c) pledge 65% of all foreign subsidiaries’ stock, d) provide first priority liens on all domestic business assets, e) maintain its Interest Coverage Ratio at 1.15 to 1.00 or better, f) maintain its Tangible Net Worth (TNW) above a minimum threshold 20% below UTMD’s TNW at closing on March 18, and g) maintain its Leverage Ratio at 2.75 to 1.00 or less.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Based on UTMD’s financial position, the bank’s margin was 2.00% at December 31, 2011. The variable portion of the interest rate on $7,000 of the loan was subsequently fixed at 1.79%. The balance on this note at December 31, 2011 was $10,500.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">At the same time the Company obtained a $12,934 (£8,000) loan from JP Morgan Chase, London Branch, to help finance UTMD’s purchase of Femcare. Terms and conditions of the loan are the same as those listed above for the $14,000 U.S. loan. The variable portion of interest rate on the loan was subsequently fixed at 2.21%. The balance on this note at December 31, 2011 was $10,565 (£6,800).</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">In December 2005, the Company borrowed €4,500 ($5,336) from the Bank of Ireland to finance repatriation of profits achieved since 1996 under The American Jobs Creation Act of 2004. The loan term is 10-years at an interest rate of 1.10% plus the bank’s money market rate, which is a total of the bank’s cost of funds and cost of liquidity. The balance on the note at December 31, 2011 was $607 (€468).</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The following table shows estimated minimum required principal reduction of the notes during the next five years using the December 31, 2011 interest and currency exchange rates and starting with the December 31, 2011 balance of $21,673:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="16%" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Year</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Payments</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Interest</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Principal</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline"><font style="DISPLAY:inline">Ending </font>Balance</font></div></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="16%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2012</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,139</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">709</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,430</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">16,242</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2013</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,956</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">521</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,435</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">10,807</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2014</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,768</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">328</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,440</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,367</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2015</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,525</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">130</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,395</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">971</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="16%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2016</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">978</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">971</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="16%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" align="left" valign="bottom"> </td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom">$</td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom">23,366</td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"> </td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,694</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">21,673</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 8 – Commitments and Contingencies</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Operating Leases</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company has a lease agreement for land adjoining its Utah facility for a term of forty years commencing on September 1, 1991. On September 1, 2001 and subsequent to each fifth lease year, the basic rental was and will be adjusted for published changes in a price index. The Company leases its Femcare facilities and automobiles for sales representatives in England. The Company leased its CMI building in Oregon until its lease expired on May 31, 2010. Rent expense charged to operations under these operating lease agreements was approximately $155, $62 and $114 for the years ended December 31, 2011, 2010 and 2009, respectively.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Future minimum lease payments under its lease obligations as of December 31, 2011 were as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="40%" cellpadding="0" cellspacing="0"> <tr> <td width="29%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline">Years ending December 31</font>:</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:center" valign="bottom"> <div style="TEXT-ALIGN:center; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">Amount</font></div></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="29%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="29%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2012</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">215</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="29%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2013</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">87</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="29%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2014</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">45</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="29%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2015</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">43</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="29%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2016</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">44</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="29%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Thereafter</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">720</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="29%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="29%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total future minimum lease payments</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1,154</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Purchase Obligations</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company has obligations to purchase raw materials for use in its manufacturing operations. The Company has the right to make changes in, among other things, purchase quantities, delivery schedules and order acceptance.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Product Liability</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Except for its Femcare subsidiary, the Company is self-insured for product liability risk. “Product liability” is an insurance industry term for the cost of legal defense and possible damages awarded as a result of use of a company’s product during a procedure which results in an injury of a patient. The Company maintains a reserve for product liability litigation and damages consistent with its previous long-term experience. Actual product liability litigation costs and damages during the last three reporting years have been immaterial, which is consistent with the Company’s overall history. Femcare product liability indemnity limit is £5 million each claim and in the annual aggregate.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company absorbs the costs of clinical training and trouble-shooting in its on-going operating expenses.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Warranty Reserve</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company’s published warranty is: “UTMD warrants its products to conform in all material respects to all published product specifications in effect on the date of shipment, and to be free from defects in material and workmanship for a period of thirty (30) days for supplies, or twenty-four (24) months for equipment, from date of shipment. During the warranty period UTMD shall, at its option, replace any products shown to UTMD's reasonable satisfaction to be defective at no expense to the Purchaser or refund the purchase price.”</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">UTMD maintains a warranty reserve when needed to provide for estimated costs which are likely to occur. The amount of this reserve is adjusted, as required, to reflect its actual experience. Based on its analysis of historical warranty claims and its estimate that existing warranty obligations were immaterial, no warranty reserve was made at December 31, 2011. Femcare had an established reserve at the time of acquisition by UTMD, which was subsequently eliminated as shown in the table below. The following table summarizes changes to UTMD’s warranty reserve during 2011:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"> </div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr bgcolor="#cceeff"> <td width="48%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Beginning Balance, January 1, 2011</font></div></td> <td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">$</font></div></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">0</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="48%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Changes in Warranty Reserve during 2011:</font></font></div></td> <td width="2%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="48%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"> Aggregate reductions for warranty repairs</font></div></td> <td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">-</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="48%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"> Aggregate changes for warranties issued during reporting period</font></div></td> <td width="2%" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">(32)</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="48%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"> Aggregate changes in reserve related to preexisting warranties</font></div></td> <td width="2%" style="PADDING-BOTTOM:2px" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">32</font></div></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="48%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:9pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Ending Balance, December 31, 2011</font></div></td> <td width="2%" style="PADDING-BOTTOM:4px" align="right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">$</font></div></td> <td width="8%" style="BORDER-BOTTOM:black 4px double" align="right" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="right"><font style="DISPLAY:inline">0</font></div></td> <td width="1%" style="BORDER-BOTTOM:black 4px double" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline"></font> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Litigation</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company has been involved in lawsuits which are an expected consequence of its operations and in the ordinary course of business. Presently, there is no litigation for which the Company believes the outcome may be material to its financial results. The Company applies its accounting policy to accrue legal costs that can be reasonably estimated.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Irish Development Agency</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">In order to satisfy requirements of the Irish Development Agency in assisting the start-up of its Ireland subsidiary, the Company agreed to invest certain amounts and maintain a certain capital structure in its Ireland subsidiary. The effect of these financial relationships and commitments are reflected in the consolidated financial statements and do not represent any significant credit risk that would affect future liquidity.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 9 – Income Taxes</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Deferred tax assets (liabilities) consist of the following temporary differences:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="80%" cellpadding="0" cellspacing="0"> <tr> <td width="32%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="47%" colspan="15" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="32%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="23%" colspan="7" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="23%" colspan="7" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="32%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Current</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Long-term</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Current</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Long-term</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="32%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="11%" colspan="3" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="32%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Inventory write-downs and differences due to UNICAP</font></div></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">76</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">69</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="32%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Allowance for doubtful accounts</font></div></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">22</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">17</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="32%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Accrued liabilities and reserves</font></div></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">127</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">99</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="32%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Other - foreign</font></div></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">108</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(75</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(81</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="#cceeff"> <td width="32%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Depreciation and amortization</font></div></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(9,285</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(674</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="white"> <td width="32%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Unrealized investment gains</font></div></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">123</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">-</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">121</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="32%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Deferred income taxes, net</font></div></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">333</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(9,237</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">185</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="2%" style="TEXT-ALIGN:right; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(634</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The components of income tax expense are as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="80%" cellpadding="0" cellspacing="0"> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="31%" colspan="10" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Years ended December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="47%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Current</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,287</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,022</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,087</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Deferred</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(621</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">235</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,666</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,026</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,322</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Income tax expense differed from amounts computed by applying the statutory federal rate to pretax income as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="80%" cellpadding="0" cellspacing="0"> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="31%" colspan="10" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Years ended December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="47%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Federal income tax expense at the statutory rate</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2,650</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2,914</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,128</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">State income taxes</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">257</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">283</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">304</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Foreign income taxes (blended rate)</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">877</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">74</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">46</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">ETI, manufacturing deduction and tax credits</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(270</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(275</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">(193</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">)</font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Other</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">152</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">30</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">37</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,666</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,026</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,322</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The domestic and foreign components of income before income tax expense were as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="80%" cellpadding="0" cellspacing="0"> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="31%" colspan="10" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Years ended December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="47%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Domestic</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7,795</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">8,571</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">9,200</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Foreign</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,285</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">469</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">380</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="47%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"></font> </div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="47%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total</font></div></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">11,080</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">9,041</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">9,580</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 10 – Options</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company has stock option plans which authorize the grant of stock options to eligible employees, directors and other individuals to purchase up to an aggregate of 1,011,759 shares of common stock, of which 228,306 are outstanding as of December 31, 2011. All options granted under the plans are granted at current market value at the date of grant, and may be exercised between six months and ten years following the date of grant. The plans are intended to advance the interest of the Company by attracting and ensuring retention of competent directors, employees and executive personnel, and to provide incentives to those individuals to devote their utmost efforts to the advancement of shareholder value. Changes in stock options were as follows:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"> </div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="35%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Shares</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="12%" colspan="6" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline"><font style="DISPLAY:inline">Price Range </font>Per Share</font></div></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">2011</font></div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="5%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="5%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Granted</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">67,200</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26.52 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26.75</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Expired or canceled</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">24,612</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">24.00 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Exercised</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">21,220</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">9.13 - </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">25.59</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total outstanding at December 31</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">238,306</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">15.01 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total exercisable at December 31</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">172,027</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">15.01 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">2010</font></div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Granted</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7,700</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">28.06 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">28.06</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Expired or canceled</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,243</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">17.71 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Exercised</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">27,230</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6.75 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">28.13</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total outstanding at December 31</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">216,938</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">9.13 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total exercisable at December 31</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">173,178</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">9.13 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">2009</font></div></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Granted</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">56,600</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">24.00 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">24.00</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Expired or canceled</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,712</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">18.00 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Exercised</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">16,434</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6.50 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">25.59</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total outstanding at December 31</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">241,711</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6.75 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="35%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Total exercisable at December 31</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">167,501</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6.75 -</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="4%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">31.33</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">For the years ended December 31, 2011, 2010 and 2009, the Company reduced current income taxes payable and increased additional paid-in capital by $34, $38 and $14, respectively, for the income tax benefit attributable to sale by optionees of common stock received upon the exercise of stock options.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Stock-Based Compensation</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">In 2011, the Company recognized $95 in equity compensation cost, compared to $83 in 2010 and $98 in 2009.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="27%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="31%" colspan="10" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Years ended December 31,</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Expected dividend amount per quarter</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">0.2449</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">0.2471</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">0.2466</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Expected stock price volatility</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">22.8</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">%</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">22.0</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">%</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">21.6</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">%</font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Risk-free interest rate</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1.19</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">%</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2.08</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">%</font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">1.76</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">%</font></td></tr> <tr bgcolor="white"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Expected life of options</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="TEXT-ALIGN:right" valign="bottom"> <div style="TEXT-ALIGN:right; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">3.6 years</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="TEXT-ALIGN:right" valign="bottom"> <div style="TEXT-ALIGN:right; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">4.5 years</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="TEXT-ALIGN:right" valign="bottom"> <div style="TEXT-ALIGN:right; TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt"><font style="DISPLAY:inline">4.7 years</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr></table></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The per share weighted average fair value of options granted during 2011, 2010 and 2009 is $3.09, $3.71 and $2.62, respectively.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">All UTMD options vest over a four-year service period. Expected dividend amounts were estimated based on the actual cash dividend rate at the time the options were granted and an estimate of future dividends based on past dividend rate changes as well as management’s expectations of future dividend rates over the expected holding period of the options. Expected volatility is based on UTMD’s historical volatility over recent periods of time and trends in that volatility, giving weight to more recent periods. Risk free interest rates were estimated based on actual U.S. Treasury Securities Interest rates as reported by the Federal Reserve Bank for periods of time equivalent to the holding periods estimated for the options on the dates the options were granted. Expected term of options were estimated based on historical holding periods for similar options previously granted by UTMD to employees and directors.</font><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The following table summarizes information about stock options outstanding at December 31, 2011:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="9%" colspan="2" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="19%" colspan="5" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Options Outstanding</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="20%" colspan="6" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Options Exercisable</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Weighted</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Average</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Remaining</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Weighted</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Weighted</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Range of</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Contractual</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Average</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Average</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Exercise</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Number</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Life</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Exercise</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Number</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Exercise</font></div></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Prices</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Outstanding</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">(Years)</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Price</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Exercisable</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Price</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">15.01 - 24.02</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">96,669</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4.28</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">22.11</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">81,680</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">21.76</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">25.59 - 25.59</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">45,562</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">2.08</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">25.59</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">45,562</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">25.59</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">26.52 - 31.33</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">96,057</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7.48</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">28.21</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">44,785</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 2px solid; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">29.91</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">15.01 - 31.33</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">238,306</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5.15</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">25.23</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">172,027</font></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:4px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:4px" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="BORDER-BOTTOM:black 4px double; TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">24.90</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 11 – Geographic Sales Information</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company had sales in the following geographic areas:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="27%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">United States</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Europe</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">Other</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">18,853</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7,821</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">11,186</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">17,431</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,367</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,323</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">18,626</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">3,030</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">4,260</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 12 – Revenues by Product Category</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company had revenues in the following product categories:</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div align="center"> <table width="60%" cellpadding="0" cellspacing="0"> <tr> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" style="BORDER-BOTTOM:black 2px solid" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Product Category</font></div></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2011</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2010</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" style="BORDER-BOTTOM:black 2px solid" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="center"><font style="DISPLAY:inline">2009</font></div></td> <td width="1%" style="TEXT-ALIGN:left; PADDING-BOTTOM:2px" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr> <td width="27%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="9%" colspan="2" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Obstetrics</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,742</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,940</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline">$</font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,543</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Gynecology/Electrosurgery/Urology</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">19,196</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,888</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,220</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="#cceeff"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Neonatal</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">6,951</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7,295</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">7,252</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td></tr> <tr bgcolor="white"> <td width="27%" align="left" valign="bottom"> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">Blood Pressure Monitoring and Accessories</font></div></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,971</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,998</font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" align="left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="1%" style="TEXT-ALIGN:left" valign="bottom"><font style="DISPLAY:inline"> </font></td> <td width="8%" style="TEXT-ALIGN:right" valign="bottom"><font style="DISPLAY:inline">5,902</font></td></tr></table></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 13 - Product Sale and Purchase Commitments</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company has had license agreements for the rights to develop and market certain products or technologies owned by unrelated parties. The confidential terms of such agreements are unique and varied, depending on many factors relating to the value and stage of development of the technology licensed. Royalties on future product sales are a normal component of such agreements and are included in the Company’s cost of goods sold on an ongoing basis.</font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">In 2009 and 2010 there were no patents under which UTMD received royalties from other parties. In 2011, UTMD received royalties of $70 for the use of intellectual property of Filshie Clip System as part of Femcare’s exclusive U.S. distribution agreement with Cooper Surgical, Inc.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 14 – Employee Benefit Plans</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company sponsors a contributory 401(k) savings plan for U.S. employees, and contributory retirement plans for Irish and English employees. The Company’s matching contribution is determined annually by the board of directors. Company contributions were approximately $209, $103 and $106 for the years ended December 31, 2011, 2010 and 2009, respectively.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 15 – Fair Value Financial Instruments</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"><br></br></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">None of the Company’s financial instruments, which are current assets and liabilities that could be readily traded, are held for trading purposes. Detail on investments is provided in note 3 above. The Company estimates that the fair value of all financial instruments at December 31, 2011 does not differ materially from the aggregate carrying value of its financial instruments recorded in the accompanying consolidated balance sheet.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 16 – Recent Accounting Pronouncements</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company’s management has evaluated the recently issued accounting pronouncements through the filing date of these financial statements and has determined that the application of these pronouncements will not have a material impact on the Company’s financial position and results of operations.</font></div>
<!--egx--><div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline"><font style="DISPLAY:inline; TEXT-DECORATION:underline">Note 17 – Subsequent Events</font></font></div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="justify"> </div> <div style="TEXT-INDENT:0pt; DISPLAY:block; MARGIN-LEFT:0pt; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline">The Company evaluated its December 31, 2011 financial statements for subsequent events through the date the financial statements were issued. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements.</font></div>
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