Financial Performance Summary (000’s)

Year Revenue GP (%) Leverage

1999 $96,794 14.80% $2,460 $2,136 1.67x

2000 $108,092 14.80% $2,315 $2,071 1.98x

2001 $140,317 14.20% $2,662 $2,236 2.27x

2002 $284,908 6.30% $1,961 $2,697 2.31x

2003 $350,110 7.30% $5,107 $3,059 1.95x

2004 $366,171 6.30% $1,744 $1,934 2.80x

2005 $315,223 1.00% ($13,754) ($12,961) 5.06x

Exhibit 1:

Operating Income

Net Income

Bank Line and covenants (000’s)

Covenant 2003 2004 2005

Line Balance $40,000 $30,205 $35,118

Debt / Tangible Net Worth 3 3 3

Actual 2.7 2.67 5.06

Tangible Net Worth Covenant $22,500 $22,500 $27,500

Actual $29,692 $31,576 $16,937

Exhibit 2:

Listed below is a summary of BBC’s net profit / (loss) by region for the past four fiscal years ($000’s):

12/31/2005 12/31/2004 12/31/2003

Construction Net Income Net Income Net Income

Arizona ($3,779) ($7,166) ($5,778)

Colorado ($4,067) $1,266 $1,351

Mid-Atlantic ($8,132) $2,454 $1,432

Minnesota $870 $3,295 $1,717

Missouri ($8,397) ($2,303) ($1,033)

Wisconsin / IA / IL $2,661 ($2,193) $801

Utah ($654) $1,483 $2,798

Captive Dividend $3,650 - - -

Restructure Costs ($461) - - -

Shops and Other ($8) ($157) ($72)

Construction Division Total ($18,316) ($3,367) $1,216

Materials Division $5,549 $4,791 $4,377

Corporate Division ($196) $510 $221

TOTAL INCOME ($12,963) $1,934 $5,814

Exhibit 3:

12/31/2002

Net Income Average($455) ($4,295)

$1,698 $62 - ($1,415)

($217) $1,416 ($6,461) ($4,549)

$425 $424 $2,999 $1,657

- $3,650 - ($461)

($200) ($109)($2,205) ($5,668)$5,966 $5,171

($89) $112 $3,672

Exhibit 4:

BBC Balance Sheet Summary

Detailed Balance Sheet - Actual and %

Industry Classification: NAICS Code: 237310

Statement Date 12/31/2002 12/31/2003 12/31/2004 12/31/2005

Months Covered 12 12 12 12

Audit Mthd Audited Audited Audited Co.Prep'd

Accountant

Stmt Type Annual Annual Annual Annual

CURRENT ASSETS

Cash 22,269 22.8 31,015 28.2 12,453 10.8 2,070

Marketable Securities 3,859 3.9 5,786 5.3 5,959 5.2 0

Accts/Notes Rec-Trade 28,514 29.2 23,813 21.7 25,119 21.7 4,019

Accts/Notes Rec-Other 1,880 1.9 2,000 1.8 0 0 28,120

Crushed Rock 1,620 1.7 1,881 1.7 2,142 1.9 2,855

Materials & Supplies 9,472 9.7 8,783 8 8,740 7.6 6,290

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

Total Inventory 11,092 11.4 10,664 9.7 10,882 9.4 9,145

Costs in Excess of Billings 5,117 5.2 6,055 5.5 13,254 11.5 11,441

Non-Op Current Assets 0 0 0 0 0 0 416

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL CURRENT ASSETS 72,731 74.4 79,333 72.2 67,667 58.5 55,211

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

NON-CURRENT ASSETS

Land 5,571 5.7 6,459 5.9 5,136 4.4 4,548

Buildings & Improvements 2,489 2.5 2,526 2.3 5,202 4.5 3,883

Machinery & Equipment 33,067 33.8 35,688 32.5 38,043 32.9 38,414

Furniture & Fixtures 2,659 2.7 3,865 3.5 5,221 4.5 5,226

Leasehold Improvements 0 0 0 0 0 0 2,710

Other Fixed Assets 296 0.3 296 0.3 296 0.3 43

Construction in Progress 222 0.2 667 0.6 0 0 0

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

Gross Fixed Assets 44,304 45.3 49,501 45.1 53,898 46.6 54,824

Accumulated Deprec (-) 22,360 22.9 25,787 23.5 29,322 25.4 31,159

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

Total Fixed Assets - Net 21,944 22.5 23,714 21.6 24,576 21.3 23,665

Accts/Notes Rec-Long Term 168 0.2 128 0.1 225 0.2 0

Accts/Notes Rec-Offcr/Stkh 67 0.1 189 0.2 73 0.1 0

Cash Value Life Insurance 0 0 0 0 0 0 168

Investments in Affiliates 1,899 1.9 1,431 1.3 15,006 13 19,701

Loans to Related Co - LTP 0 0 4,026 3.7 6,868 5.9 0

Other Investments 607 0.6 690 0.6 773 0.7 2,651

Prepaids/Deferreds - LTP 306 0.3 337 0.3 418 0.4 222

Non-Op Non-Cur Assets 0 0 0 0 0 0 947

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL NON-CURRENT ASSETS 24,991 25.6 30,515 27.8 47,939 41.5 47,354

TOTAL ASSETS 97,722 100 109,848 100 115,606 100 102,565

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

CURRENT LIABILITIES

CPLTD 39 - 44 - 2,072 1.8 1,240

Accounts Payable-Trade 20,875 21.4 27,583 25.1 21,836 18.9 19,382

Loans from Related Co - CP 10 0 0 0 0 0 0

Other Accruals 3,236 3.3 2,794 2.5 3,498 3 4,372

Billings in Excess of Costs 11,096 11.4 7,946 7.2 7,608 6.6 4,600

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL CURRENT LIABILITIES 35,256 36.1 38,367 34.9 35,014 30.3 29,594

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

NON-CURRENT LIABILITIES

Long-Term Debt 31,812 32.6 40,295 36.7 48,405 41.9 56,034

Loans from Related Co - LTP 0 0 475 0.4 325 0.3 0

Deferred Compensation 193 0.2 0 0 0 0 0

Operating Non-Cur Liabs 900 0.9 904 0.8 1,007 0.9 0

Minority Interest-Liab 0 0 115 0.1 558 0.5 0

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL NON-CURRENT LIABILITIES 32,905 33.7 41,789 38 50,295 43.5 56,034

TOTAL LIABILITIES 68,161 69.7 80,156 73 85,309 73.8 85,628

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

NET WORTH

Common Stock 3,573 3.7 3,573 3.3 3,573 3.1 3,573

Retained Earnings 25,988 26.6 26,119 23.8 26,724 23.1 13,364

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL NET WORTH 29,561 30.3 29,692 27 30,297 26.2 16,937

TOTAL LIABILITIES & NET WORTH 97,722 100 109,848 100 115,606 100 102,565

Working Capital 37,475 38.3 40,966 37.3 32,653 28.2 25,617

Tang Net Worth-Actual 29,561 30.3 29,692 27 30,297 26.2 16,937

2

0

3.9

27.4

2.8

6.1

¯

8.9

11.2

0.4

¯

53.8

¯

4.4

3.8

37.5

5.1

2.6

0

0

¯

53.5

30.4

¯

23.1

0

0

0.2

19.2

0

2.6

0.2

0.9

¯

46.2

100

¯

1.2

18.9

0

4.3

4.5

¯

28.9

¯

54.6

0

0

0

0

¯

54.6

83.5

¯

3.5

13

¯

16.5

100

25

16.5

Exhibit 5:

BBC Income Statement Summary

Summary Income Statement - Actual and % Amounts Printed in: Thousands

Industry Classification: NAICS Code: 237310 MMAS (3.1.7.0)

Statement Date 12/31/2002 12/31/2003 12/31/2004

Months Covered 12 12 12

Audit Mthd Audited Audited Audited

Accountant

Stmt Type Annual Annual Annual

Sales/Revenues 284,908 100 350,110 100 366,171 100

Cost of Sales/Revenues 266,839 93.7 324,551 92.7 343,059 93.7

¯ ¯ ¯ ¯ ¯ ¯ ¯

GROSS PROFIT 18,069 6.3 25,559 7.3 23,112 6.3

Operating Expense 12,107 4.2 16,281 4.7 16,650 4.5

Depreciation 4,001 1.4 4,171 1.2 4,718 1.3

¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL OPERATING EXP(INC) 16,108 5.7 20,452 5.8 21,368 5.8

¯ ¯ ¯ ¯ ¯ ¯ ¯

NET OPERATING PROFIT 1,961 0.7 5,107 1.5 1,744 0.5

Interest Income(Expense) -384 -0.1 -362 -0.1 -779 -0.2

Other Income(Expense) 1,214 0.4 -1,686 -0.5 1,267 0.3

Gain(Loss) on Sale of Assets -22 - 5 - 144 -

¯ ¯ ¯ ¯ ¯ ¯ ¯

TOTAL OTHER INCOME(EXP) 808 0.3 -2,043 -0.6 632 0.2

Minority Interest 72 - 4 - 443 0.1

NET PROFIT 2,697 0.9 3,060 0.9 1,933 0.5

EBIT 3,481 1.2 3,668 1 3,344 0.9

EBITDA 7,482 2.6 7,839 2.2 8,062 2.2

EBIDA 7,482 2.6 7,839 2.2 8,062 2.2

Cash Dividends & Withdrawals -1,789 -2,929 -1,328

Adj to Retained Earnings - - -

Amounts Printed in: Thousands

MMAS (3.1.7.0)

12/31/2005

12

Co.Prep'd

Annual

315,223 100

312,175 99

¯ ¯

3,048 1

11,739 3.7

5,064 1.6

¯ ¯

16,803 5.3

¯ ¯

-13,755 -4.4

-2,403 -0.8

2,927 0.9

270 0.1

¯ ¯

794 0.3

0 -

-12,961 -4.1

-10,185 -3.2

-5,121 -1.6

-5,121 -1.6

-698

299

Exhibit 6:

BBC Reconciliation of Equity

Summary Reconciliations

Industry Classification: NAICS Code: 237310

Statement Date 12/31/2002 12/31/2003 12/31/2004 12/31/2005

Months Covered 12 12 12 12

Stmt Type Annual Annual Annual Annual

Reconciliation of Retained Earnings

¯ ¯ ¯ ¯ ¯

BEGINNING RETAINED EARNINGS,

AS PREVIOUSLY REPORTED 25,988 26,119 26,724

Adj to Retained Earnings - - 299

¯ ¯ ¯ ¯

BEG RET. EARNINGS, RESTATED 25,988 26,119 27,023

Net Profit 3,060 1,933 -12,961

Div and Withdrawals-Cash -2,929 -1,328 -698

ENDING RETAINED EARNINGS 26,119 26,724 13,364

¯ ¯ ¯ ¯ ¯

Reconciliation of Net Worth

¯ ¯ ¯ ¯ ¯

BEGINNING NET WORTH 29,561 29,692 30,297

Net Profit 3,060 1,933 -12,961

Div and Withdrawals-Cash -2,929 -1,328 -698

Adjs to Ret Earnings (Above) - - 299

ACTUAL ENDING NET WORTH 29,692 30,297 16,937

INCR(DECR) IN NET WORTH 131 605 -13,360

¯ ¯ ¯ ¯ ¯

Reconciliation of Working Captial

¯ ¯ ¯ ¯ ¯

BEGINNING WORKING CAPITAL 37,475 40,966 32,653

Decrease(Increase) in Non-Current Assets:

Total Fixed Assets-Net -1,770 -862 911

Acct/Notes Rec-Long Term -82 19 298

Investments -3,641 -16,500 127

Op Non-Current Assets -31 -81 196

Non-Op Non-Curr Assets - - -947

Increase(Decrease) in Non-Current Liabilities:

Long Term Debt 8,483 8,110 7,629

Other Non-Current Liabilities 401 396 -1,890

Increase(Decrease) in Net Worth 131 605 -13,360

ENDING WORKING CAPITAL 40,966 32,653 25,617

MMAS (3.1.7.0)

Amounts Printed in: Thousands

Exhibit 7:

BBC Statement of Cash Flows

MMAS (3.1.7.0)

Summary UCA Cash Flow

Industry Classification: NAICS Code: 237310

Statement Date 12/31/2002 12/31/2003 12/31/2004 12/31/2005

Months Covered 12 12 12 12

Stmt Type Annual Annual Annual Annual

Net Sales 350,110 366,171 315,223

Chg in Accts/Notes Rec-Trade(Net) 4,701 -1,306 21,100

Chg in Billings vs. Costs -4,088 -7,537 -1,195

Chg in Deferred Revenue -193 - -

¯ ¯ ¯ ¯

Cash Collected From Sales 350,530 357,328 335,128

Cost of Sales/Revenues -324,551 -343,059 -312,175

Chg in Inventories 428 -218 1,737

Chg in Accts Payable-Trade 6,708 -5,747 -2,454

¯ ¯ ¯ ¯

Cash Paid To Suppliers -317,415 -349,024 -312,892

¯ ¯ ¯ ¯

CASH FROM TRADING ACTIVITIES 33,115 8,304 22,236

S,G&A Expense(Less Non-Cash Exp) -16,281 -16,650 -11,739

Chg in Prepaids/Deferreds -31 -81 196

Chg in Accruals & Other Pay -442 704 874

¯ ¯ ¯ ¯

Cash Paid for Operating Costs -16,754 -16,027 -10,669

¯ ¯ ¯ ¯

CASH AFTER OPERATIONS 16,361 -7,723 11,567

Other Income (Expense) -1,444 1,456 3,300

Chg in Other Assets/Liabilities 4 103 -1,007

¯ ¯ ¯ ¯

Other Income (Expense) & Taxes Paid -1,440 1,559 2,293

¯ ¯ ¯ ¯

NET CASH AFTER OPERATIONS 14,921 -6,164 13,860

Interest Expense -604 -968 -2,776

Dividends - Paid in Cash -2,929 -1,328 -698

¯ ¯ ¯ ¯

Cash Paid for Dividends & Interest -3,533 -2,296 -3,474

¯ ¯ ¯ ¯

NET CASH INCOME 11,388 -8,460 10,386

Current Portion Long Term Debt -39 -44 -2,072

¯ ¯ ¯ ¯

CASH AFTER DEBT AMORTIZATION 11,349 -8,504 8,314

Amounts Printed in: Thousands

Chg in Net Fixed Assets -5,936 -5,436 -3,883

Chg in Investments -3,843 -14,481 -29,058

¯ ¯ ¯ ¯

Cash Paid for Plant and Investments -9,779 -19,917 -32,941

¯ ¯ ¯ ¯

FINANCING SURPLUS (REQMNTS) 1,570 -28,421 -24,627

Chg in ST Loans/Other Payables -10 - -

Chg in LT & Sub Debt 8,527 10,182 8,869

Chg in Other Non-Curr Liabilities 475 -150 -325

Chg in Gray Area Liabilities 115 443 -558

Chg in Capital -4 -443 299

¯ ¯ ¯ ¯

Total External Financing 9,103 10,032 8,285

¯ ¯ ¯ ¯

CASH AFTER FINANCING 10,673 -18,389 -16,342

Add:Beginning Cash & Equivalents 26,128 36,801 18,412

¯ ¯ ¯ ¯

ENDING CASH & EQUIVALENTS 36,801 18,412 2,070

Exhibit 8:

BBC Summary of Ratios

Summary Ratios

Industry Classification: NAICS Code: 237310 MMAS (3.1.7.0)

Statement Date 12/31/2002 12/31/2003 12/31/2004 12/31/2005

Months Covered 12 12 12 12

Stmt Type Annual Annual Annual Annual

LIQUIDITY

Working Capital 37,475 40,966 32,653 25,617

Quick Ratio 1.6 1.63 1.24 1.16

Current Ratio 2.06 2.07 1.93 1.87

Net Sales/Working Capital 7.6 8.55 11.21 12.31

LEVERAGE

Net Worth-Actual 29,561 29,692 30,297 16,937

Tang Net Worth-Actual 29,561 29,692 30,297 16,937

Eff Tang Net Worth-Actual 29,561 29,692 30,297 16,937

Debt/Worth 2.31 2.7 2.82 5.06

Debt/Tang Worth 2.31 2.7 2.82 5.06

Debt Less Sub Debt-Liability/Eff Tg Wth 2.31 2.7 2.82 5.06

Borrowed Funds/Eff Tg Worth 1.08 1.36 1.67 3.38

LT Debt/Net Fixed Assets 1.45 1.7 2.05 2.42

Total Liabilities/Total Assets 0.7 0.73 0.74 0.83

COVERAGE

Interest Coverage 4.89 6.07 3.45 -3.67

Net Income+Depr+Amort-Divs/CPLTD 125.87 97.77 2.57 -6.93

UCA Cash Flow Coverage 4.17 -1.41 2.94

UCA Cash Flow/CPLTD pp 4.18 -2.63 2.5

EBITDA/Interest Exp+CPLTD 9.96 12.1 2.65 -1.28

EBITDA/Interest Exp+CPLTD pp 12.19 7.97 -1.06

EBITDA 7,482 7,839 8,062 -5,121

EBIDA 7,482 7,839 8,062 -5,121

PROFITABILITY (%)

Return on Assets 2.76 2.79 1.67 -12.64

Return on Equity 9.12 10.31 6.38 -76.52

Gross Margin 6.34 7.3 6.31 0.97

Net Margin 0.95 0.87 0.53 -4.11

ACTIVITY

Net Accounts Receivable Days 36.53 24.83 25.04 4.65

Inventory Days on Hand 15.17 11.99 11.58 10.69

Accounts Payable Days 28.55 31.02 23.23 22.66

Amounts Printed in: Thousands

Net Sales/Total Assets 2.92 3.19 3.17 3.07

Net Sales/Net Worth 9.64 11.79 12.09 18.61

Net Sales/Net Fixed Assets 12.98 14.76 14.9 13.32

Profit Before Taxes/Total Assets (%) 2.83 2.79 2.06 -12.64

GROWTH (%)

Total Assets Growth 12.41 5.24 -11.28

Total Liabilities Growth 17.6 6.43 0.37

Net Worth Growth 0.44 2.04 -44.1

Net Sales Growth 22.89 4.59 -13.91

Operating Profit Growth 160.43 -65.85 N/A

Net Profit Growth 13.46 -36.83 N/A

Exhibit 7:

BBC Statement of Cash Flows

Summary UCA Cash Flow

Industry Classification: NAICS Code: 237310

Statement 12/31/2002 12/31/2003 12/31/2004 12/31/2005

Months Co 12 12 12 12

Stmt Type Annual Annual Annual Annual

Net Sales 350,110 366,171 315,223

Chg in Accts/Notes Rec-Trade(Net) 4,701 -1,306 21,100

Chg in Billings vs. Costs -4,088 -7,537 -1,195

Chg in Deferred Revenue -193 0 0

¯ ¯ ¯ ¯

Cash Collected From Sales 350,530 357,328 335,128

Cost of Sales/Revenues -324,551 -343,059 -312,175

Chg in Inventories 428 -218 1,737

Chg in Accts Payable-Trade 6,708 -5,747 -2,454

¯ ¯ ¯ ¯

Cash Paid To Suppliers -317,415 -349,024 -312,892

¯ ¯ ¯ ¯

CASH FROM TRADING ACTIVITIES 33,115 8,304 22,236

S,G&A Expense(Less Non-Cash Exp) -16,281 -16,650 -11,739

Chg in Prepaids/Deferreds -31 -81 196

Chg in Accruals & Other Pay -442 704 874

¯ ¯ ¯ ¯

Cash Paid for Operating Costs -16,754 -16,027 -10,669

¯ ¯ ¯ ¯

CASH AFTER OPERATIONS 16,361 -7,723 11,567

Other Income (Expense) -1,444 1,456 3,300

Chg in Other Assets/Liabilities 4 103 -1,007

¯ ¯ ¯ ¯

Other Income (Expense) & Taxes Paid -1,440 1,559 2,293

¯ ¯ ¯ ¯

NET CASH AFTER OPERATIONS 14,921 -6,164 13,860

Interest Expense -604 -968 -2,776

Dividends - Paid in Cash -2,929 -1,328 -698

¯ ¯ ¯ ¯

Cash Paid for Dividends & Interest -3,533 -2,296 -3,474

¯ ¯ ¯ ¯

NET CASH INCOME 11,388 -8,460 10,386

Current Portion Long Term Debt -39 -44 -2,072

¯ ¯ ¯ ¯

CASH AFTER DEBT AMORTIZATION 11,349 -8,504 8,314

Chg in Net Fixed Assets -5,936 -5,436 -3,883

Chg in Investments -3,843 -14,481 -29,058

¯ ¯ ¯ ¯

Cash Paid for Plant and Investments -9,779 -19,917 -32,941

¯ ¯ ¯ ¯

FINANCING SURPLUS (REQMNTS) 1,570 -28,421 -24,627

Chg in ST Loans/Other Payables -10 - -

Chg in LT & Sub Debt 8,527 10,182 8,869

Chg in Other Non-Curr Liabilities 475 -150 -325

Chg in Gray Area Liabilities 115 443 -558

Chg in Capital -4 -443 299

¯ ¯ ¯ ¯

Total External Financing 9,103 10,032 8,285

¯ ¯ ¯ ¯

CASH AFTER FINANCING 10,673 -18,389 -16,342

Add:Beginning Cash & Equivalents 26,128 36,801 18,412

¯ ¯ ¯ ¯

ENDING CASH & EQUIVALENTS 36,801 18,412 2,070

MMAS (3.1.7.0)

Amounts Printed in: Thousands

2003 2004 2005Operating Inflows (Net Sales) 350110 366171 315223Operating Outflows

COGS (Exclude Depre) -324551 -343059 -312175SGA Exp -16281 -16650 -11739Taxes Other -1681 1411 3496Total Operating Outflows -342513 -358298 -320418

Total Net Operating Cash Flow (NOF) 7597 7873 -5195Changes in Working Capital

Receivables (AR) 4499 713 -6722Inventory (INV) 428 -218 1737Other Current Assets (OCA) -938 -7199 1397Accounts Payable (AP) 6708 -5747 -2454Other Current Liabilities (OCL) -3592 366 -2134Total Changes in Net Working Capital (NWC) 7105 -12085 -8176

Surplus or Deficit Cash Flow after Working Capital Investment 14702 -4212 -13371Capital Investment

Change in Short-Term Investment -1927 -173 5959Change in Net Fixed Assets -1770 -862 911Depreciation -4171 -4718 -5064

Net Investment Flow -7868 -5753 1806Free Cash Flow to Firm Surplus or Deficit (FCFF) 6834 -9965 -11565Financing & Other Income -362 -779 -2403Surplus or Deficit Cash Flow Available for Dividends 6472 -10744 -13968Dividends (DIV) -2929 -1328 -698Management’s Discretionary Cash Flow Surplus 3543 -12072 -14666Financial Cash Flows

Change in Short-Term Debt -5 2028 -832Change in Long-Term Debt 8958 7960 7304Change in Common Stock 0 0 0Change in Preferred StockChange in Other (Minority Interest) -4 -443 0Total Change in Net Financial Cash Flows (NFF) 8949 9545 6472

Goodwill/Other Assets & Other Liabilities

Change in Goodwill & Other Asset -3672 -16581 -624

Change in Other Liabilities -74 546 -1565Surplus or Deficit Cash Flow 8746 -18562 -10383Change in Cash (Cash) -8746 18562 10383Surplus or Deficit after all Cash Flows 0 0 0

CASH INFLOWS 2003 2004 2005

NOF 7,597 27.0% 7,873 20.9%

AR 4,499 16.0% 713 1.9%

Inventory 428 1.5% 1,737 6.7%

Other CA 1,397 5.4%

AP 6,708 23.8%

Other CL 366 1.0%

Other liabilities 546 1.5%

NFF 8,949 31.8% 9,545 25.4% 6,472 24.9%

Short-term Investment 5,959 23.0%

Cash & MS 18,562 49.4% 10,383 40.0%

TOTAL CASH INFLOWS 28,181 100.0% 37,605 100.0% 25,948 100.0%

CASH OUTFLOWS 2003 2004 2005

NOF (5,195) 20.0%

AR (6,722) 25.9%

Inventory (218) 0.6%

Other CA (938) 3.3% (7,199) 19.1%

Other Assets (3,672) 13.0% (16,581) 44.1% (624) 2.4%

Short-term Investment (1,927) 6.8% (173) 0.5%

CAPEX (5,941) 21.1% (5,580) 14.8% (4,153) 16.0%

AP (5,747) 15.3% (2,454) 9.5%

Other CL (3,592) 12.7% (2,134) 8.2%

Other liabilities (74) 0.3% (1,565) 6.0%

Dividends (DIV) (2,929) 10.4% (1,328) 3.5% (698) 2.7%

Interest (362) 1.3% (779) 2.1% (2,403) 9.3%

Cash & MS (8,746) 31.0%

TOTAL CASH OUTFLOWS -28,181 100.0% -37,605 100.0% -25,948 100.0%

Cash Conversion Cycle 2002 2003 2004 2005

DSO 39 27 25 37

Inventory days 15 12 12 11

Payable days 29 31 23 23

CCC 26 8 13 25

Bank Line and covenants (000’s)

Covenant 2003 2004 2005

Line Balance $40,000 $30,205 $35,118

Debt / Tangible Net Worth 3 3 3

Actual 2.7 2.67 5.06

Tangible Net Worth Covenant $22,500 $22,500 $27,500

Actual $29,692 $31,576 $16,937

2002 2003 2004 2005Total assets 97,722 109,848 115,606 102,565Total liabilities 68,161 80,156 85,309 85,628 60,428Intangible assetsTangible Net Worth 29,561 29,692 30,297 16,937 40,937

D/NW 2.31 2.70 2.82 5.06

Debt 31,861 40,814 50,802 57,274

28,543

11,606 3.567810119856

Exhibit 2: