UTAH
|
87-0345941
|
|
(State
or other jurisdiction of incorporation
or organization)
|
(I.R.S.
Employer Identification
No.)
|
5300
South 360 West, Suite 250, Salt Lake City, Utah
|
84123
|
|
(Address
of principal executive office)
|
(Zip
Code)
|
|
Registrant’s
telephone number, including area code:
|
(801)
264-1060
|
Large
accelerate filer
|
[ ]
|
Accelerated
filer
|
[ ]
|
Non-accelerated
filer
|
[X]
|
Class A Common Stock, $2.00 par
value
|
7,889,280
|
|
Title of Class
|
Number of Shares Outstanding as of April 30,
2008
|
|
Class C Common Stock, $.20 par
value
|
8,492,392
|
|
Title of Class
|
Number of Shares Outstanding as of April 30,
2008
|
PART
I - FINANCIAL INFORMATION
|
||
Item 1
|
Financial
Statements
|
Page
No.
|
Condensed
Consolidated Balance Sheets – March 31, 2008 and December 31, 2007,
(unaudited)
|
3-4
|
|
Condensed
Consolidated Statements of Earnings for the Three Months Ended March 31,
2008 and 2007 (unaudited)
|
5-6
|
|
Condensed
Consolidated Statements of Cash Flows for the Three Months ended March 31,
2008 and 2007 (unaudited)
|
7
|
|
Notes
to Condensed Consolidated Financial Statements (unaudited)
|
8-17
|
|
Item 2
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
17-24
|
Item 3
|
Quantitative
and Qualitative Disclosures about Market Risk
|
24
|
Item 4
|
Controls
and Procedures
|
24
|
PART
II - OTHER INFORMATION
|
||
Other
Information
|
24-30
|
|
Signature
Page
|
31
|
|
Certifications
|
32-34
|
March
31,
|
December
31,
|
|||||||
Assets
|
2008
|
2007
|
||||||
Investments:
|
||||||||
Fixed
maturity securities, held to maturity, at amortized cost
|
$ | 106,703,814 | $ | 116,896,016 | ||||
Fixed
maturity securities, available for sale, at estimated fair
value
|
2,291,599 | 2,880,920 | ||||||
Equity
securities, available for sale, at estimated fair value
|
5,405,055 | 5,900,292 | ||||||
Mortgage
loans on real estate and construction loans, net of allowances for
losses
|
104,163,863 | 92,884,055 | ||||||
Real
estate, net of accumulated depreciation
|
8,928,517 | 7,946,304 | ||||||
Policy,
student and other loans net, of allowances for doubtful
accounts
|
18,393,319 | 16,860,874 | ||||||
Short-term
investments
|
5,455,591 | 5,337,367 | ||||||
Accrued
investment income
|
3,104,847 | 3,032,285 | ||||||
Total
investments
|
254,446,605 | 251,738,113 | ||||||
Cash
and cash equivalents
|
10,753,823 | 5,203,060 | ||||||
Mortgage
loans sold to investors
|
53,626,541 | 66,700,694 | ||||||
Receivables,
net
|
13,702,885 | 13,743,682 | ||||||
Restricted
assets of cemeteries and mortuaries
|
5,790,136 | 5,711,054 | ||||||
Cemetery
perpetual care trust investments
|
1,599,883 | 1,604,600 | ||||||
Receivable
from reinsurers
|
754,718 | 746,336 | ||||||
Cemetery
land and improvements
|
9,923,733 | 9,760,041 | ||||||
Deferred
policy and pre-need contract acquisition costs
|
31,602,869 | 30,786,229 | ||||||
Property
and equipment, net
|
14,538,822 | 14,828,699 | ||||||
Value
of business acquired
|
11,487,591 | 11,686,080 | ||||||
Goodwill
|
1,028,026 | 1,075,039 | ||||||
Other
|
8,041,189 | 4,579,018 | ||||||
Total
assets
|
$ | 417,296,821 | $ | 418,162,645 |
March
31,
|
December
31,
|
|||||||
2008
|
2007
|
|||||||
Liabilities
and Stockholder's Equity
|
||||||||
Liabilities
|
||||||||
Future
life, annuity, and other benefits
|
$ | 297,100,042 | $ | 296,068,767 | ||||
Unearned
premium reserve
|
5,147,723 | 4,995,664 | ||||||
Bank
loans payable
|
5,449,951 | 12,552,666 | ||||||
Notes
and contracts payable
|
685,357 | 818,810 | ||||||
Deferred
pre-need cemetery and mortuary contract revenues
|
12,863,377 | 12,643,199 | ||||||
Accounts
payable
|
1,977,407 | 1,833,188 | ||||||
Other
liabilities and accrued expenses
|
15,277,074 | 14,812,845 | ||||||
Income
taxes
|
17,664,492 | 16,179,596 | ||||||
Total
liabilities
|
356,165,423 | 359,904,735 | ||||||
Non-Controlling
Interest in Perpetual Care Trusts
|
2,517,958 | 2,473,758 | ||||||
Stockholders'
Equity
|
||||||||
Common
Stock:
|
||||||||
Class
A: Common Stock - $2.00 par value, 20,000,000 shares
authorized; issued 7,889,268 shares in 2008 and 7,885,268 shares in
2007
|
15,778,536 | 15,770,458 | ||||||
Class
B: non-voting common stock - $1.00 par value; 5,000,000 shares
authorized; none issued or outstanding
|
- | - | ||||||
Class
C: convertible common stock - $0.20 par value;
15,000,000 shares authorized; issued 8,492,510 shares in 2008 and
8,530,699 in 2007
|
1,698,502 | 1,706,140 | ||||||
Additional
paid-in capital
|
17,757,676 | 17,737,172 | ||||||
Accumulated
other comprehensive income and other items, net of taxes
|
3,013,041 | 1,596,791 | ||||||
Retained
earnings
|
22,478,787 | 21,104,156 | ||||||
Treasury
stock at cost - 1,099,590 Class A shares in 2008 and 1,104,484
Class A shares in 2007
|
(2,113,102 | ) | (2,130,565 | ) | ||||
Total
stockholders' equity
|
58,613,440 | 55,748,152 | ||||||
Total
Liability and Stockholder's Equity
|
$ | 417,296,821 | $ | 418,162,645 |
Three
Months Ended March 31,
|
||||||||
2008
|
2007
|
|||||||
Revenues:
|
||||||||
Insurance
premiums and other considerations
|
$ | 8,735,598 | $ | 7,962,275 | ||||
Net
investment income
|
7,204,250 | 7,943,458 | ||||||
Net
mortuary and cemetery sales
|
3,589,995 | 3,510,937 | ||||||
Realized
gains (losses) on investments and other assets
|
22,917 | (21,531 | ) | |||||
Mortgage
fee income
|
33,489,290 | 29,521,887 | ||||||
Other
|
179,450 | 129,126 | ||||||
Total
revenues
|
53,221,500 | 49,046,152 | ||||||
Benefits
and expenses
|
||||||||
Death
benefits
|
4,796,863 | 4,092,279 | ||||||
Surrenders
and other policy benefits
|
621,271 | 608,622 | ||||||
Increase
in future policy benefits
|
3,076,857 | 2,743,468 | ||||||
Amortization
of deferred policy and pre-need acquisition costs and value of
business acquired
|
1,148,371 | 1,360,840 | ||||||
Selling
general and administrative expenses:
|
||||||||
Commissions
|
22,736,386 | 22,439,724 | ||||||
Salaries
|
6,265,829 | 5,784,898 | ||||||
Other
|
9,762,690 | 7,207,882 | ||||||
Interest
expense
|
2,191,485 | 3,099,321 | ||||||
Cost
of goods and services sold - mortuaries and
cemeteries
|
676,813 | 651,740 | ||||||
Total
benefits and expenses
|
51,276,565 | 47,988,774 | ||||||
Earning
before income taxes
|
1,944,935 | 1,057,378 | ||||||
Income
tax expense
|
(569,479 | ) | (312,837 | ) | ||||
Net
earnings
|
$ | 1,375,456 | $ | 744,541 | ||||
Net
earnings per Class A Equivalent common share (1)
|
$ | 0.18 | $ | 0.10 | ||||
Net
earnings per Class A equivalent common share-assuming dilution
(1)
|
$ | 0.18 | $ | 0.10 |
Weighted-average
Class A equivalent common share outstanding (1)
|
7,636,372 | 7,459,970 | ||||||
Weighted-average
Class A equivalent common shares outstanding assuming-dilution
(1)
|
7,731,996 | 7,731,546 |
Three
Months Ended March 31,
|
||||||||
2008
|
2007
|
|||||||
Cash
flows from operating activities:
|
||||||||
Net
cash provided by operating activities
|
$ | 19,338,399 | $ | 10,321,204 | ||||
Cash
flows from investing activities:
|
||||||||
Securities
held to maturity:
|
||||||||
Purchase-fixed
maturity securities
|
- | (1,501,387 | ) | |||||
Calls
and maturities - fixed maturity securities
|
10,249,116 | 1,056,489 | ||||||
Securities
available for sale:
|
||||||||
Purchase-fixed
maturity securities
|
(7,364 | ) | - | |||||
Sales-equity
securities
|
603,222 | - | ||||||
Purchase
of short-term investments
|
(12,241,316 | ) | (3,773,896 | ) | ||||
Sales
of short-term investments
|
12,123,092 | 5,463,354 | ||||||
Purchase
of restricted assets
|
(41,310 | ) | (150,702 | ) | ||||
Changes
in assets for perpetual care trusts
|
44,200 | 31,029 | ||||||
Amount
received for perpetual care trusts
|
(106,378 | ) | (32,471 | ) | ||||
Mortgage,
policy, and other loans made
|
(25,130,252 | ) | (18,046,138 | ) | ||||
Payments
received for mortgage, policy and other loans
|
11,925,761 | 18,056,810 | ||||||
Purchase
of property and equipment
|
(211,481 | ) | (941,364 | ) | ||||
Disposal
of property and equipment
|
- | - | ||||||
Purchase
of real estate
|
(1,104,757 | ) | (607,420 | ) | ||||
Sale
of real estate
|
15,000 | 451,633 | ||||||
Net
cash provided by (used in) investing activities
|
(3,882,467 | ) | 5,937 | |||||
Cash
flows from financing activities:
|
||||||||
Annuity
contract receipts
|
1,896,861 | 1,454,087 | ||||||
Annuity
contract withdrawals
|
(4,483,827 | ) | (3,116,326 | ) | ||||
Sale
of treasury stock
|
17,463 | - | ||||||
Repayment
of bank loans on notes and contracts
|
(9,883,726 | ) | (364,817 | ) | ||||
Proceeds
from borrowing on bank loans
|
2,548,060 | - | ||||||
Net
cash used in financing activities
|
(9,905,169 | ) | (2,027,056 | ) | ||||
Net
cash in cash and cash equivalents
|
5,550,763 | 8,300,085 | ||||||
Cash
and cash equivalents at beginning of period
|
5,203,060 | 10,376,585 | ||||||
Cash
and cash equivalents at end of period
|
$ | 10,753,823 | $ | 18,676,670 |
Three
Months Ended March 31,
|
||||||||
2008
|
2007
|
|||||||
Numerator:
|
||||||||
Net
earnings
|
$ | 1,375,456 | $ | 744,541 | ||||
Denominator:
|
||||||||
Basic
weighted-average shares outstanding
|
7,636,372 | 7,459,970 | ||||||
Effect
of dilutive securities:
|
||||||||
Employee
stock options
|
95,624 | 269,822 | ||||||
Stock
appreciation rights
|
- | 1,754 | ||||||
Dilutive
potential common shares
|
95,624 | 271,576 | ||||||
Diluted
weighted-average shares outstanding
|
7,731,996 | 7,731,546 | ||||||
Basic
earnings per share
|
$ | 0.18 | $ | 0.10 | ||||
Diluted
earnings per share
|
$ | 0.18 | $ | 0.10 |
Cemetery/
|
Reconciling
|
|||||||||||||||||||
Life
Insurance
|
Mortuary
|
Mortgage
|
Items
|
Consolidated
|
||||||||||||||||
For
the Three Months Ended
|
||||||||||||||||||||
March 31,
2008
|
||||||||||||||||||||
Revenues
from external customers
|
$ | 12,829,392 | $ | 3,867,872 | $ | 36,524,236 | $ | - | $ | 53,221,500 | ||||||||||
Intersegment
revenues
|
1,627,829 | 23,001 | 97,990 | (1,748,820 | ) | - | ||||||||||||||
Segment
profit (loss) Before income taxes
|
415,222 | 379,407 | 1,150,306 | - | 1,944,935 | |||||||||||||||
Identifiable
Assets
|
391,121,312 | 62,370,578 | 29,215,409 | (65,410,478 | ) | 417,296,821 | ||||||||||||||
For
the Three Months Ended
|
||||||||||||||||||||
March 31, 2007
|
||||||||||||||||||||
Revenues
from external customers
|
$ | 11,799,182 | $ | 3,779,216 | $ | 33,467,754 | $ | - | $ | 49,046,152 | ||||||||||
Intersegment
revenues
|
1,337,357 | 23,001 | 120,160 | (1,480,518 | ) | - | ||||||||||||||
Segment
profit (loss) Before income taxes
|
605,645 | 430,577 | 21,156 | - | 1,057,378 | |||||||||||||||
Identifiable
Assets
|
355,402,102 | 56,375,977 | 24,214,000 | (53,850,000 | ) | 382,142,073 |
|
·
|
Defines
fair value as the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants
at the measurement date, and establishes a framework for measuring fair
value;
|
|
·
|
Establishes
a three-level hierarchy for fair value measurements based upon the
transparency of inputs to the valuation as of the measurement
date;
|
|
·
|
Expands
disclosures about financial instruments measured at fair
value.
|
|
a)
|
Quoted
prices for similar assets or liabilities in active
markets;
|
|
b)
|
Quoted
prices for identical or similar assets or liabilities in non-active
markets; or
|
|
c)
|
Valuation
models whose inputs are observable, directly or indirectly, for
substantially the full term of the asset or
liability
|
|
|
|
Valued
at cost,
|
Balance
as of
|
||||||||||
amortized
|
March
31,
|
|||||||||||||
Level
1
|
Level
2
|
Level
3
|
cost
|
2008
|
||||||||||
Financial
Assets
|
||||||||||||||
Fixed
maturity securities
|
$ |
2,291,599
|
$
|
-
|
$
|
-
|
$
|
106,703,814
|
$ |
108,995,413
|
||||
Equity
securities
|
5,405,055
|
-
|
-
|
-
|
5,405,055
|
|||||||||
Mortgage
loans
|
-
|
-
|
6,117,099
|
98,046,764
|
104,163,863
|
|||||||||
Short-term
investments
|
5,455,591
|
-
|
-
|
-
|
5,455,591
|
|||||||||
Total
Investments
|
13,152,245
|
-
|
6,117,099
|
204,750,578
|
224,019,922
|
|||||||||
Mortgage
loans sold to investors
|
-
|
-
|
53,626,541
|
-
|
53,626,541
|
|||||||||
Other
assets
|
-
|
0
|
3,381,864
|
4,659,325
|
8,041,189
|
|||||||||
Total
Financial Assets
|
$ |
13,152,245
|
$
|
-
|
$ |
63,125,504
|
$
|
209,409,903
|
$ |
285,687,652
|
||||
Financial
Liabilities
|
||||||||||||||
Other
liabilities
|
$ |
-
|
$
|
-
|
$
|
(2,266,472)
|
$
|
(13,010,602)
|
$
|
(15,277,074)
|
||||
Total
Financial Liabilities
|
$ |
-
|
$
|
-
|
$
|
(2,266,472)
|
$
|
(13,010,602)
|
$ |
(15,277,074)
|
Mortgage
|
||||||||||||||||
Loans
|
||||||||||||||||
Mortgage
|
Sold
to
|
Other
|
Other
|
|||||||||||||
Loans
|
Investors
|
Assets
|
Liabilities
|
|||||||||||||
Balance
- December 31, 2007
|
$ | 4,152,985 | $ | 66,700,694 | $ | 1,319,703 | $ | (2,155,216 | ) | |||||||
Total
Gains (Losses):
|
- | - | - | - | ||||||||||||
Included
in earnings
|
(362,360 | ) | - | - | - | |||||||||||
Included
in other comprehensive income
|
- | - | 2,062,161 | (111,256 | ) | |||||||||||
Purchases,
issuances, and settlements
|
2,326,474 | (13,074,153 | ) | - | - | |||||||||||
Transfers
|
- | - | - | - | ||||||||||||
Balance
- March 31, 2008
|
$ | 6,117,099 | $ | 53,626,541 | $ | 3,381,864 | $ | (2,266,472 | ) |
For
the Three Months Ended
|
||||
(Unaudited)
|
March
31, 2007
|
|||
Total
revenues
|
$ | 50,038,000 | ||
Net
earnings
|
$ | 992,000 | ||
Net
earnings per Class A equivalent common share
|
$ | 0.12 | ||
Net
earnings per Class A equivalent common share assuming
dilution
|
$ | 0.11 |
|
·
|
Defines
fair value as the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants
at the measurement date, and establishes a framework for measuring fair
value;
|
|
|
|
·
|
Establishes
a three-level hierarchy for fair value measurements based upon the
transparency of inputs to the valuation as of the measurement
date;
|
|
|
|
·
|
Expands
disclosures about financial instruments measured at fair
value.
|
|
a)
|
Quoted
prices for similar assets or liabilities in active
markets;
|
|
b)
|
Quoted
prices for identical or similar assets or liabilities in non-active
markets; or
|
|
c)
|
Valuation
models whose inputs are observable, directly or indirectly, for
substantially the full term of the asset or
liability
|
|
|
|
Valued
at cost,
|
Balance
as of
|
||||||||||
amortized
|
March
31,
|
|||||||||||||
Level
1
|
Level
2
|
Level
3
|
cost
|
2008
|
||||||||||
Financial
Assets
|
||||||||||||||
Fixed
maturity securities
|
$ |
2,291,599
|
$
|
-
|
$
|
-
|
$
|
106,703,814
|
$ |
108,995,413
|
||||
Equity
securities
|
5,405,055
|
-
|
-
|
-
|
5,405,055
|
|||||||||
Mortgage
loans
|
-
|
-
|
6,117,099
|
98,046,764
|
104,163,863
|
|||||||||
Short-term
investments
|
5,455,591
|
-
|
-
|
-
|
5,455,591
|
|||||||||
Total
Investments
|
13,152,245
|
-
|
6,117,099
|
204,750,578
|
224,019,922
|
|||||||||
Mortgage
loans sold to investors
|
-
|
-
|
53,626,541
|
-
|
53,626,541
|
|||||||||
Other
assets
|
-
|
0
|
3,381,864
|
4,659,325
|
8,041,189
|
|||||||||
Total
Financial Assets
|
$ |
13,152,245
|
$
|
-
|
$ |
63,125,504
|
$
|
209,409,903
|
$ |
285,687,652
|
||||
Financial
Liabilities
|
||||||||||||||
Other
liabilities
|
$ |
-
|
$
|
-
|
$
|
(2,266,472)
|
$
|
(13,010,602)
|
$
|
(15,277,074)
|
||||
Total
Financial Liabilities
|
$ |
-
|
$
|
-
|
$
|
(2,266,472)
|
$
|
(13,010,602)
|
$ |
(15,277,074)
|
Mortgage
|
||||||||||||||||
Loans
|
||||||||||||||||
Mortgage
|
Sold
to
|
Other
|
Other
|
|||||||||||||
Loans
|
Investors
|
Assets
|
Liabilities
|
|||||||||||||
Balance
- December 31, 2007
|
$ | 4,152,985 | $ | 66,700,694 | $ | 1,319,703 | $ | (2,155,216 | ) | |||||||
Total
Gains (Losses):
|
- | - | - | - | ||||||||||||
Included
in earnings
|
(362,360 | ) | - | - | - | |||||||||||
Included
in other comprehensive income
|
- | - | 2,062,161 | (111,256 | ) | |||||||||||
Purchases,
issuances, and settlements
|
2,326,474 | (13,074,153 | ) | - | - | |||||||||||
Transfers
|
- | - | - | - | ||||||||||||
Balance
- March 31, 2008
|
$ | 6,117,099 | $ | 53,626,541 | $ | 3,381,864 | $ | (2,266,472 | ) |
Item
2.
|
Changes
in Securities and Use of Proceeds
|
Item
3.
|
Defaults
Upon Senior Securities
|
Item
4.
|
Submission
of Matters to a Vote of Security
Holders
|
Item
5.
|
Other
Information
|
(a)(1)
|
Financial
Statements
|
(a)(2)
|
Financial Statement
Schedules
|
(3)
|
Exhibits
|
3.1
|
Articles
of Restatement of Articles of Incorporation (4)
|
|
3.2
|
Amended
Bylaws (6)
|
|
4.1
|
Specimen
Class A Stock Certificate (1)
|
|
4.2
|
Specimen
Class C Stock Certificate (1)
|
|
4.3
|
Specimen
Preferred Stock Certificate and Certificate of Designation of Preferred
Stock (1)
|
|
10.1
|
Restated
and Amended Employee Stock Ownership Plan and Trust Agreement
(1)
|
|
10.2
|
2003
Stock Option Plan (5)
|
|
10.3
|
2006
Director Stock Option Plan (12)
|
|
10.4
|
Deferred
Compensation Agreement with George R. Quist (2)
|
|
10.5
|
Deferred
Compensation Plan (3)
|
|
10.6
|
Employment
agreement with J. Lynn Beckstead, Jr. (7)
|
|
10.7
|
Employment
agreement with Scott M. Quist (8)
|
|
10.8
|
Stock
Purchase Agreement among Security National Life Insurance Company,
Southern Security Life Insurance Company, Memorial Insurance Company of
America, and the shareholders of Memorial Insurance Company
(9)
|
|
10.9
|
Reinsurance
Agreement between Security National Life Insurance Company and Memorial
Insurance Company of America (10)
|
|
10.10
|
Trust
Agreement between Security National Life Insurance Company and Memorial
Insurance Company of America (10)
|
|
10.11
|
Promissory
Note between Memorial Insurance Company as Maker and Security National
Life Insurance Company as Payee (10)
|
|
10.12
|
Security
Agreement between Memorial Insurance Company as Debtor and Security
National Life Insurance Company as Secured Party (10)
|
|
10.13
|
Surplus
Contribution Note between Memorial Insurance Company of America as Maker
and Southern Security Life Insurance Company as Payee
(10)
|
|
10.14
|
Guaranty
Agreement by Security National Life Insurance Company and Southern
Security Life Insurance Company as Guarantors (10)
|
|
10.15
|
Administrative
Services Agreement between Security National Life Insurance Company and
Memorial Insurance Company of America (10)
|
|
10.16
|
Agreement
and Plan of Complete Liquidation of Southern Security Life Insurance
Company into Security National Life Insurance Company
(11)
|
|
10.17
|
Assignment
between Southern Security Life Insurance Company and Security National
Life Insurance Company(11)
|
|
10.18
|
Assignment
between Southern Security Life Insurance Company and Security National
Life Insurance Company (12)
|
|
10.19
|
Unit
Purchase Agreement among Security National Financial Corporation, C &
J Financial, LLC, Henry Culp, Jr., and Culp Industries
Inc.(13)
|
|
10.20
|
Consulting
Agreement with Henry Culp, Jr., (13)
|
|
10.21
|
Employment
Agreement with Kevin O. Smith (13)
|
|
10.22
|
Non-Competition
and Confidentiality Agreement with Henry Culp, Jr.,
(13)
|
|
10.23
|
Stock
Purchase Agreement among Security National Life Insurance Company, Capital
Reserve Life Insurance Company, and the shareholders of Capital Reserve
Life Insurance Company (14)
|
|
10.24
|
Indemnification
Agreement among Security National Life Insurance Company, Capital Reserve
Life Insurance Company, and the shareholders of Capital Reserve Life
Insurance Company (15)
|
|
10.25
|
Escrow
Agreement among Security National Insurance Company, Capital Reserve Life
Insurance Company, the shareholders of Capital Reserve Life Insurance
Company, and Mackey Price Thompson & Ostler as Escrow Agent
(15)
|
|
10.26
|
Reinsurance
Agreement between Security National Life Insurance Company and Capital
Reserve Life Insurance Company (15)
|
|
10.27
|
Subsidiaries
of the Registrant
|
|
31.1
|
Certification
pursuant to 18 U.S.C. Section 1350, as enacted by Section 302 of the
Sarbanes-Oxley Act of 2002
|
|
31.2
|
Certification
pursuant to 18 U.S.C. Section 1350, as enacted by Section 302 of the
Sarbanes-Oxley Act of 2002
|
|
32.1
|
Certification
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
|
32.2
|
Certification
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
|
(1)
|
|
Incorporated
by reference from Registration Statement on Form S-1, as filed on June 29,
1987
|
(2)
|
Incorporated
by reference from Annual Report on Form 10-K, as filed on March 31,
1989
|
|
(3)
|
|
Incorporated
by reference from Annual Report on Form 10-K, as filed on April 3,
2002
|
(4)
|
Incorporated
by reference from Report on Form 8-K/A as filed on January 8,
2003
|
|
(5)
|
Incorporated
by reference from Schedule 14A Definitive Proxy Statement, Filed on June
5, 2003, relating to the Company’s Annual Meeting of
Shareholders
|
|
(6)
|
Incorporated
by reference from Report on Form 10-Q, as filed on November 14,
2003
|
|
(7)
|
Incorporated
by reference from Report on Form 10-K, as filed on March 30,
2004
|
|
(8)
|
Incorporated
by reference from Report on Form 10-Q, as filed on August 13,
2004
|
|
(9)
|
Incorporated
by reference from Report on Form 8-K, as filed on September 27,
2005
|
|
(10)
|
Incorporated
by reference from Report on Form 8-K, as filed on January 5,
2006
|
|
(11)
|
Incorporated
by reference from Report on Form 8-K, as filed on January 12,
2007
|
|
(12)
|
Incorporated
by reference from Report on Form 10-K, as filed on March 31,
2007
|
|
(13)
|
Incorporated
by reference from Report on Form 8-K, as filed on August 8,
2007
|
|
(14)
|
Incorporated
by reference from Report on Form 8-K, as filed November 2,
2007
|
|
(15)
|
Incorporated
by reference from Report on Form 8-K, as filed January 14,
2008
|
(b)
|
Reports
on Form 8-K:
|
Dated:
May 15, 2008
|
By: /s/ George
R. Quist
|
|
George
R. Quist
|
||
Chairman
of the Board and Chief Executive Officer
|
||
(Principal
Executive Officer)
|
||
Dated:
May 15, 2008
|
By: /s/
Stephen M. Sill
|
|
Stephen
M. Sill
|
||
Vice
President, Treasurer and Chief Financial Officer
|
||
(Principal
Financial and Accounting Officer)
|
||