<table>
<tbody><tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</td><td style="padding-bottom: 1pt; font-weight: bold">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="font-weight: bold; padding-left: 10pt; text-indent: -10pt">Operations Data:</td><td>&nbsp;</td>
    <td colspan="2" style="text-align: right">&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td>
    <td colspan="2" style="text-align: right">&nbsp;</td><td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 60%; padding-left: 10pt; text-indent: -10pt">Sales</td><td style="width: 3%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">125,485,000</td><td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 3%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">117,887,000</td><td style="width: 1%; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Reimbursable program costs and expenses</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(23,398,000</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(22,478,000</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt; text-indent: -10pt">Outside production and other program expenses</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(63,634,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(60,631,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Operating revenue</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">38,453,000</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">34,778,000</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Compensation expense</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">27,501,000</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">24,326,000</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt; text-indent: -10pt">General and administrative expenses</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">6,730,000</td><td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">7,182,000</td><td style="padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Operating income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,222,000</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,270,000</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Interest (expense), net</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(233,000</td><td style="text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,369,000</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Other income</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">—</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">12,000</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt; text-indent: -10pt">Fair value adjustments to compound embedded derivatives</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(163,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,882,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt">Income before (benefit) provision for income taxes</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,826,000</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31,000</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt; text-indent: -10pt">(Benefit) provision for income taxes</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,573,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">174,000</td><td style="padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt; text-indent: -10pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,399,000</td><td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(143,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="padding-left: 10pt; text-indent: -10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; padding-left: 10pt; text-indent: -10pt">Per Share Data:</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="padding-left: 10pt; text-indent: -10pt">Basic income (loss) per share</td><td>&nbsp;</td>
    <td style="text-align: left">$</td><td style="text-align: right">.66</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">$</td><td style="text-align: right">(.02</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-indent: -10pt">Diluted income (loss) per share</td><td>&nbsp;</td>
    <td style="text-align: left">$</td><td style="text-align: right">.34</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">$</td><td style="text-align: right">(.02</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="padding-left: 10pt; text-indent: -10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; padding-left: 10pt; text-indent: -10pt">Weighted Average Shares Outstanding:</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(234,249,232)">
    <td style="padding-left: 10pt; text-indent: -10pt">Basic</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,140,944</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">7,960,510</td><td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 10pt; text-indent: -10pt">Diluted</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">15,963,308</td><td style="text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">7,960,510</td><td style="text-align: left">&nbsp;</td></tr>
</tbody></table>
<table>
<tbody><tr>
<td> </td><td> </td>
<td>2012</td><td> </td><td> </td>
<td>2011</td><td> </td></tr>
<tr>
<td>Operations Data:</td><td> </td>
<td> </td><td> </td><td> </td>
<td> </td><td> </td></tr>
<tr>
<td>Sales</td><td> </td>
<td>$</td><td>125,485,000</td><td> </td><td> </td>
<td>$</td><td>117,887,000</td><td> </td></tr>
<tr>
<td>Reimbursable program costs and expenses</td><td> </td>
<td> </td><td>(23,398,000</td><td>)</td><td> </td>
<td> </td><td>(22,478,000</td><td>)</td></tr>
<tr>
<td>Outside production and other program expenses</td><td> </td>
<td> </td><td>(63,634,000</td><td>)</td><td> </td>
<td> </td><td>(60,631,000</td><td>)</td></tr>
<tr>
<td>Operating revenue</td><td> </td>
<td> </td><td>38,453,000</td><td> </td><td> </td>
<td> </td><td>34,778,000</td><td> </td></tr>
<tr>
<td>Compensation expense</td><td> </td>
<td> </td><td>27,501,000</td><td> </td><td> </td>
<td> </td><td>24,326,000</td><td> </td></tr>
<tr>
<td>General and administrative expenses</td><td> </td>
<td> </td><td>6,730,000</td><td> </td><td> </td>
<td> </td><td>7,182,000</td><td> </td></tr>
<tr>
<td>Operating income</td><td> </td>
<td> </td><td>4,222,000</td><td> </td><td> </td>
<td> </td><td>3,270,000</td><td> </td></tr>
<tr>
<td>Interest (expense), net</td><td> </td>
<td> </td><td>(233,000</td><td>)</td><td> </td>
<td> </td><td>(1,369,000</td><td>)</td></tr>
<tr>
<td>Other income</td><td> </td>
<td> </td><td>—</td><td> </td><td> </td>
<td> </td><td>12,000</td><td> </td></tr>
<tr>
<td>Fair value adjustments to compound embedded derivatives</td><td> </td>
<td> </td><td>(163,000</td><td>)</td><td> </td>
<td> </td><td>(1,882,000</td><td>)</td></tr>
<tr>
<td>Income before (benefit) provision for income taxes</td><td> </td>
<td> </td><td>3,826,000</td><td> </td><td> </td>
<td> </td><td>31,000</td><td> </td></tr>
<tr>
<td>(Benefit) provision for income taxes</td><td> </td>
<td> </td><td>(1,573,000</td><td>)</td><td> </td>
<td> </td><td>174,000</td><td> </td></tr>
<tr>
<td>Net income (loss)</td><td> </td>
<td>$</td><td>5,399,000</td><td> </td><td> </td>
<td>$</td><td>(143,000</td><td>)</td></tr>
<tr>
<td> </td><td> </td>
<td> </td><td> </td><td> </td><td> </td>
<td> </td><td> </td><td> </td></tr>
<tr>
<td>Per Share Data:</td><td> </td>
<td> </td><td> </td><td> </td><td> </td>
<td> </td><td> </td><td> </td></tr>
<tr>
<td>Basic income (loss) per share</td><td> </td>
<td>$</td><td>.66</td><td> </td><td> </td>
<td>$</td><td>(.02</td><td>)</td></tr>
<tr>
<td>Diluted income (loss) per share</td><td> </td>
<td>$</td><td>.34</td><td> </td><td> </td>
<td>$</td><td>(.02</td><td>)</td></tr>
<tr>
<td> </td><td> </td>
<td> </td><td> </td><td> </td><td> </td>
<td> </td><td> </td><td> </td></tr>
<tr>
<td>Weighted Average Shares Outstanding:</td><td> </td>
<td> </td><td> </td><td> </td><td> </td>
<td> </td><td> </td><td> </td></tr>
<tr>
<td>Basic</td><td> </td>
<td> </td><td>8,140,944</td><td> </td><td> </td>
<td> </td><td>7,960,510</td><td> </td></tr>
<tr>
<td>Diluted</td><td> </td>
<td> </td><td>15,963,308</td><td> </td><td> </td>
<td> </td><td>7,960,510</td><td> </td></tr>
</tbody></table>