Delaware | 95-2039518 | |
(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification Number) | |
3050 East Hillcrest Drive |
|
|
Westlake Village, California |
| 91362 |
(Address of principal executive offices) |
| (Zip code) |
(805) 446-4800 |
| |
| (Registrant’s telephone number, including area code) |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [ X] No [ ]
1 | ||
December 31, | June 30, | ||||||
2003 | 2004 | ||||||
(Unaudited) | |||||||
CURRENT ASSETS | |||||||
Cash and cash equivalents | $ | 12,847,000 | $ | 14,586,000 | |||
Accounts receivable | |||||||
Customers | 27,010,000 | 32,428,000 | |||||
Related parties | 3,938,000 | 4,892,000 | |||||
30,948,000 | 37,320,000 | ||||||
Less: Allowance for doubtful receivables | 375,000 | 374,000 | |||||
30,573,000 | 36,946,000 | ||||||
Inventories | 16,164,000 | 19,650,000 | |||||
Deferred income taxes, current | 5,547,000 | 5,734,000 | |||||
Prepaid expenses and other current assets | 2,256,000 | 2,294,000 | |||||
Prepaid income taxes | 446,000 | 238,000 | |||||
Total current assets | 67,833,000 | 79,448,000 | |||||
PROPERTY, PLANT AND EQUIPMENT, at cost, net of accumulated depreciation and amortization | 47,893,000 | 55,436,000 | |||||
DEFERRED INCOME TAXES, non-current | 1,816,000 | 1,296,000 | |||||
OTHER ASSETS | |||||||
Goodwill | 5,090,000 | 5,090,000 | |||||
Other | 1,163,000 | 1,763,000 | |||||
TOTAL ASSETS | $ | 123,795,000 | $ | 143,033,000 | |||
2 | ||
December 31, | June 30, | ||||||
2003 | 2004 | ||||||
(Unaudited) | |||||||
CURRENT LIABILITIES | |||||||
Line of credit | $ | 8,488,000 | $ | 7,661,000 | |||
Accounts payable | |||||||
Trade | 14,029,000 | 16,567,000 | |||||
Related parties | 3,453,000 | 4,804,000 | |||||
Accrued liabilities | 8,715,000 | 13,003,000 | |||||
Current portion of long-term debt | |||||||
Related party | 2,500,000 | 2,500,000 | |||||
Other | 3,333,000 | 1,667,000 | |||||
Current portion of capital lease obligations | 161,000 | 163,000 | |||||
Total current liabilities | 40,679,000 | 46,365,000 | |||||
LONG-TERM DEBT, net of current portion | |||||||
Related party | 3,750,000 | 2,500,000 | |||||
Other | 3,000,000 | 3,000,000 | |||||
CAPITAL LEASE OBLIGATIONS, net of current portion | 2,334,000 | 2,242,000 | |||||
MINORITY INTEREST IN JOINT VENTURE | 2,582,000 | 2,600,000 | |||||
STOCKHOLDERS’ EQUITY | |||||||
Class A convertible preferred stock -par value $1.00 per share;1,000,000 shares authorized;no shares issued and outstanding | -- | -- | |||||
Common stock - par value $0.66 2/3 per share;30,000,000 shares authorized; 14,627,284 and 14,930,159sharesissued atDecember 31, 2003and June 30, 2004, respectively | 6,502,000 | 6,704,000 | |||||
Additional paid-in capital | 11,192,000 | 14,793,000 | |||||
Retained earnings | 55,779,000 | 66,759,000 | |||||
73,473,000 | 88,256,000 | ||||||
Less: | |||||||
Treasury stock – 1,613,508 shares of common stock, at cost | 1,782,000 | 1,782,000 | |||||
Accumulated other comprehensive loss (gain) | 241,000 | 148,000 | |||||
2,023,000 | 1,930,000 | ||||||
Total stockholders’ equity | 71,450,000 | 86,326,000 | |||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 123,795,000 | $ | 143,033,000 | |||
3 | ||
Three Months Ended | Six Months Ended | ||||||||||||
2003 | 2004 | 2003 | 2004 | ||||||||||
Net sales | $ | 33,316,000 | $ | 47,012,000 | $ | 62,762,000 | $ | 88,442,000 | |||||
Cost of goods sold | 24,970,000 | 31,984,000 | 46,955,000 | 60,664,000 | |||||||||
Gross profit | 8,346,000 | 15,028,000 | 15,807,000 | 27,778,000 | |||||||||
Selling, general and administrativeexpenses | 4,777,000 | 6,417,000 | 9,009,000 | 11,908,000 | |||||||||
Research and development expenses | 400,000 | 815,000 | 746,000 | 1,562,000 | |||||||||
Loss (gain) on sale of fixed assets | 32,000 | (8,000 | ) | (56,000 | ) | 15,000 | |||||||
Total operating expenses | 5,209,000 | 7,224,000 | 9,699,000 | 13,485,000 | |||||||||
Income from operations | 3,137,000 | 7,804,000 | 6,108,000 | 14,293,000 | |||||||||
Other income (expense) | |||||||||||||
Interest income | 5,000 | 8,000 | 9,000 | 10,000 | |||||||||
Interest expense | (223,000 | ) | (153,000 | ) | (472,000 | ) | (337,000 | ) | |||||
Other | (7,000 | ) | 24,000 | (96,000 | ) | (124,000 | ) | ||||||
(225,000 | ) | (121,000 | ) | (559,000 | ) | (451,000 | ) | ||||||
Income before income taxes and minorityinterest | 2,912,000 | 7,683,000 | 5,549,000 | 13,842,000 | |||||||||
Income tax benefit (provision) | (651,000 | ) | (1,383,000 | ) | (1,268,000 | ) | (2,543,000 | ) | |||||
Income before minority interest | 2,261,000 | 6,300,000 | 4,281,000 | 11,299,000 | |||||||||
Minority interest in joint venture earnings | (89,000 | ) | (177,000 | ) | (187,000 | ) | (319,000 | ) | |||||
Net income | $ | 2,172,000 | $ | 6,123,000 | $ | 4,094,000 | $ | 10,980,000 | |||||
Earnings per share | |||||||||||||
Basic | $ | 0.17 | $ | 0.46 | $ | 0.33 | $ | 0.83 | |||||
Diluted | $ | 0.15 | $ | 0.40 | $ | 0.29 | $ | 0.72 | |||||
Weighted average shares outstanding | |||||||||||||
Basic | 12,678,194 | 13,265,146 | 12,575,166 | 13,180,992 | |||||||||
Diluted | 14,268,400 | 15,329,760 | 14,058,761 | 15,306,089 | |||||||||
4 | ||
Six Months Ended | |||||||
2003 | 2004 | ||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
$ | 4,094,000 | $ | 10,980,000 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Depreciation and amortization | 5,327,000 | 6,145,000 | |||||
Minority interest earnings | 187,000 | 319,000 | |||||
Loss (gain) on sale of property, plant and equipment | (107,000 | ) | 15,000 | ||||
Changes in operating assets: | |||||||
Accounts receivable | (2,889,000 | ) | (6,568,000 | ) | |||
Inventories | (1,376,000 | ) | (3,486,000 | ) | |||
Prepaid expenses, taxes and other assets | (259,000 | ) | 268,000 | ||||
Changes in operating liabilities: | |||||||
Accounts payable | 1,806,000 | 3,889,000 | |||||
Accrued liabilities | (539,000 | ) | 2,219,000 | ||||
Net cash provided by operating activities | 6,244,000 | 13,781,000 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
Purchase of property, plant and equipment | (7,656,000 | ) | (10,300,000 | ) | |||
Proceeds from sale of property, plant and equipment | 442,000 | 55,000 | |||||
Net cash used in investing activities | (7,214,000 | ) | (10,245,000 | ) | |||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
Advances on (repayments of) line of credit, net | 3,217,000 | (827,000 | ) | ||||
Proceeds from the issuance of common stock | 693,000 | 1,868,000 | |||||
Repayments of long-term obligations | (2,916,000 | ) | (2,916,000 | ) | |||
Repayments of capital lease obligations | (88,000 | ) | (90,000 | ) | |||
Management incentive reimbursement from LSC | -- | 375,000 | |||||
Dividend to minority shareholder | -- | (300,000 | ) | ||||
Net cash provided (used) by financing activities | 906,000 | (1,890,000 | ) | ||||
EFFECT OF EXCHANGE RATE CHANGESON CASH AND CASH EQUIVALENTS | 63,000 | 93,000 | |||||
INCREASE (DECREASE) IN CASH AND EQUIVALENTS | (1,000 | ) | 1,739,000 | ||||
CASH AT BEGINNING OF PERIOD | 7,284,000 | 12,847,000 | |||||
CASH AT END OF PERIOD | $ | 7,283,000 | $ | 14,586,000 | |||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||||
Cash paid during the period for: | |||||||
Interest | $ | 463,000 | $ | 343,000 | |||
Income taxes | $ | 761,000 | $ | 1,592,000 | |||
Non-cash activities: | |||||||
Tax benefit of stock options exercised credited to additional paid-in capital | -- | $ | 1,755,000 | ||||
5 | ||
6 | ||
December 31, | June 30, | ||||||
2003 | 2004 | ||||||
Finished goods | $ | 9,920,000 | $ | 11,683,000 | |||
Work-in-progress | 1,818,000 | 1,897,000 | |||||
Raw materials | 6,519,000 | 8,312,000 | |||||
18,257,000 | 21,892,000 | ||||||
Less: Reserves | (2,093,000 | ) | (2,242,000 | ) | |||
Net inventory | $ | 16,164,000 | $ | 19,650,000 | |||
7 | ||
For the three months ended June 30 (in 000’s except per share data), | ||||||||
Amounts Per Share | Amounts Per Share | |||||||
2003 | Basic | Diluted | 2004 | Basic | Diluted | |||
Net income | $ 2,172 | $ 0.17 | $ 0.15 | $ 6,123 | $ 0.46 | $ 0.40 | ||
Additional compensation for fairvalue of stock options,net of tax effect | (383) | (0.03) | (0.02) | (302) | (0.02) | (0.02) | ||
Proforma net income | $ 1,789 | $ 0.14 | $ 0.13 | $ 5,821 | $ 0.44 | $ 0.38 | ||
For the six months ended June 30 (in 000’s except per share data), | ||||||||
Amounts Per Share | Amounts Per Share | |||||||
2003 | Basic | Diluted | 2004 | Basic | Diluted | |||
Net income | $ 4,094 | $ 0.33 | $ 0.29 | $ 10,980 | $ 0.83 | $ 0.79 | ||
Additional compensation for fairvalue of stock options,net of tax effect | (881) | (0.07) | (0.06) | (602) | (0.04) | (0.04) | ||
Proforma net income | $ 3,213 | $ 0.26 | $ 0.23 | $ 10,378 | $ 0.79 | $ 0.68 | ||
8 | ||
Far East | North America | Consolidated | ||||||||
Three Months Ended June 30, 2003 | ||||||||||
Total sales | $ | 28,551,000 | $ | 18,013,000 | $ | 46,564,000 | ||||
Inter-company sales | (10,739,000 | ) | (2,509,000 | ) | (13,248,000 | ) | ||||
Net sales | $ | 17,812,000 | $ | 15,504,000 | $ | 33,316,000 | ||||
Assets | $ | 69,143,000 | $ | 42,384,000 | $ | 111,527,000 | ||||
Property, plant and equipment | $ | 34,053,000 | $ | 12,633,000 | $ | 46,686,000 | ||||
Far East |
|
| North America |
|
| Consolidated Segments | ||||
Three Months Ended June 30, 2004 | ||||||||||
Total sales | $ | 46,185,000 | $ | 24,051,000 | $ | 70,236,000 | ||||
Inter-company sales | (18,738,000 | ) | (4,486,000 | ) | (23,224,000 | ) | ||||
Net sales | $ | 27,447,000 | $ | 19,565,000 | $ | 47,012,000 | ||||
Assets | $ | 99,438,000 | $ | 43,595,000 | $ | 143,033,000 | ||||
Property, plant and equipment | $ | 43,617,000 | $ | 11,819,000 | $ | 55,436,000 | ||||
Far East |
|
| North America |
|
| Consolidated Segments | ||||
Six Months Ended June 30, 2003 | ||||||||||
Total sales | $ | 55,508,000 | $ | 34,258,000 | $ | 89,766,000 | ||||
Inter-company sales | (21,227,000 | ) | (5,777,000 | ) | (27,004,000 | ) | ||||
Net sales | $ | 34,281,000 | $ | 28,481,000 | $ | 62,762,000 | ||||
Assets | $ | 69,143,000 | $ | 42,384,000 | $ | 111,527,000 | ||||
Property, plant and equipment | $ | 34,053,000 | $ | 12,633,000 | $ | 46,686,000 | ||||
Far East | North America | Consolidated Segments | ||||||||
Six Months Ended June 30, 2004 | ||||||||||
Total sales | $ | 87,086,000 | $ | 45,428,000 | $ | 132,514,000 | ||||
Inter-company sales | (35,705,000 | ) | (8,367,000 | ) | (44,072,000 | ) | ||||
Net sales | $ | 51,381,000 | $ | 37,061,000 | $ | 88,442,000 | ||||
Assets | $ | 99,438,000 | $ | 43,595,000 | $ | 143,033,000 | ||||
Property, plant and equipment | $ | 43,617,000 | $ | 11,819,000 | $ | 55,436,000 | ||||
9 | ||
10 | ||
11 | ||
12 | ||
13 | ||
Percent of Net Sales | Percentage Dollar | ||||||||||||
2003 |
|
| 2004 |
|
|
|
| ‘03 to ‘04 |
| ||||
Net sales | 100.0 | % | 100.0 | % | 41.1 | % | |||||||
Cost of goods sold | (74.9 | ) | (68.0 | ) | 28.1 | ||||||||
Gross profit | 25.1 | 32.0 | 80.1 | ||||||||||
Operating expenses | (15.7 | ) | (15.4 | ) | 38.7 | ||||||||
Operating income | 9.4 | 16.6 | 148.8 | ||||||||||
Interest expense, net | (0.7 | ) | (0.4 | ) | (33.5 | ) | |||||||
Other income | (0.1 | ) | 0.1 | 442.9 | |||||||||
Income before taxes and minority interest | 8.6 | 16.3 | 163.8 | ||||||||||
Income tax benefit (provision) | (1.8 | ) | (2.9 | ) | 112.4 | ||||||||
Income before minority interest | 6.8 | 13.4 | 178.6 | ||||||||||
Minority interest | (0.3 | ) | (0.4 | ) | 98.9 | ||||||||
Net income | 6.5 | 13.0 | 181.9 | ||||||||||
2003 |
|
| 2004 |
| |||
Net Sales | $ | 33,316,000 | $ | 47,012,000 |
2003 |
|
| 2004 |
| |||
Cost of Goods Sold | $ | 24,970,000 | $ | 31,984,000 | |||
Gross Profit | $ | 8,346,000 | $ | 15,028,000 | |||
Gross Profit Margin Percentage | 25.1 | % | 32.0 | % |
14 | ||
2003 | 2004 | ||||||
Total Operating Expenses | $ | 5,209,000 | $ | 7,224,000 |
2003 |
|
| 2004 |
| |||
Net Interest Income (Expense) | $ | 218,000 | $ | 145,000 |
2003 |
|
| 2004 |
| |||
Other Income (Expense) | $ | (7,000 | ) | $ | 24,000 |
2003 |
|
| 2004 |
| |||
Income Tax Provision | $ | 651,000 | $ | 1,383,000 |
15 | ||
2003 |
|
| 2004 | ||||
Minority Interest in Joint Venture | $ | 89,000 | $ | 177,000 |
Percent of Net Sales | Percentage Dollar Increase (Decrease) | |||||||||||
2003 |
|
| 2004 |
|
|
|
| ‘03 to ‘04 |
| |||
Net sales | 100.0 | % | 100.0 | % | 40.9 | % | ||||||
Cost of goods sold | (74.8 | ) | (68.6 | ) | 29.2 | |||||||
Gross profit | 25.2 | 31.4 | 75.7 | |||||||||
Operating expenses | (15.5 | ) | (15.2 | ) | 39.0 | |||||||
Operating income | 9.7 | 16.2 | 134.0 | |||||||||
Interest expense, net | (0.8 | ) | (0.4 | ) | (29.2 | ) | ||||||
Other income | (0.1 | ) | (0.1 | ) | (28.1 | ) | ||||||
Income before taxes and minority interest | 8.8 | 15.7 | 149.5 | |||||||||
Income tax benefit (provision) | (2.0 | ) | (2.9 | ) | 100.6 | |||||||
Income before minority interest | 6.8 | 12.8 | 163.9 | |||||||||
Minority interest | (0.3 | ) | (0.4 | ) | 70.6 | |||||||
Net income | 6.5 | 12.4 | 168.2 | |||||||||
2003 |
|
| 2004 | ||||
Net Sales | $ | 62,762,000 | $ | 88,442,000 |
16 | ||
2003 | 2004 | ||||||
Cost of Goods Sold | $ | 46,955,000 | $ | 60,664,000 | |||
Gross Profit | $ | 15,807,000 | $ | 27,778,000 | |||
Gross Profit Margin Percentage | 25.2 | % | 31.4 | % |
2003 |
|
| 2004 |
| |||
Total Operating Expenses | $ | 9,699,000 | $ | 13,485,000 |
2003 |
|
| 2004 | ||||
Net Interest Income (Expense) | $ | 463,000 | $ | 327,000 |
2003 |
|
| 2004 | ||||
Other Income (Expense) | $ | (96,000 | ) | $ | (124,000 | ) |
2003 |
|
| 2004 |
| |||
Income Tax Provision | $ | 1,268,000 | $ | 2,543,000 |
17 | ||
2003 |
|
| 2004 | ||||
Minority Interest in Joint Venture | $ | 187,000 | $ | 319,000 |
18 | ||
19 | ||
20 | ||
· | difficulties associated with owning a manufacturing business, including, but not limited to, the maintenance and management of manufacturing facilities, equipment, employees and inventories and limitations on the flexibility of controlling overhead; | |
· | difficulties implementing our Enterprise Resource Planning system. | |
· | difficulties expanding our operations in the Far East and developing new operations in Europe; | |
· | difficulties developing and implementing a successful research and development team; | |
· | difficulties developing proprietary technology; and, | |
· | market acceptance of our proprietary technology. |
21 | ||
The risks of becoming a fully integrated manufacturer are amplified in an industry-wide slowdown because of the fixed costs associated with manufacturing facilities.
· | changes in, or impositions of, legislative or regulatory requirements, including tax laws in the United States and in the countries in which we manufacture or sell our products; | |
· | trade restrictions, transportation delays, work stoppages, and economic and political instability; | |
· | changes in import/export regulations, tariffs and freight rates; | |
· | difficulties in collecting receivables and enforcing contracts; | |
· | currency exchange rate fluctuations; | |
· | restrictions on the transfer of funds from foreign subsidiaries to Diodes-North America; and, | |
· | longer customer payment terms. |
· | general economic conditions in the countries where we sell our products; | |
· | seasonality and variability in the computer and communications market and our other end markets; | |
· | the timing of our and our competitors' new product introductions; | |
· | product obsolescence; | |
· | the scheduling, rescheduling and cancellation of large orders by our customers; | |
· | the cyclical nature of demand for our customers' products; | |
· | our ability to develop new process technologies and achieve volume production at our fabrication facilities; | |
· | changes in manufacturing yields; | |
· | adverse movements in exchange rates, interest rates or tax rates; and | |
· | the availability of adequate supply commitments from our outside suppliers or subcontractors. |
22 | ||
· | use a significant portion of our available cash; | |
· | issue equity securities, which would dilute current stockholders’ percentage ownership; | |
· | incur substantial debt; | |
· | incur or assume contingent liabilities, known or unknown; | |
· | incur amortization expenses related to intangibles; and | |
· | incur large, immediate accounting write-offs. |
23 | ||
· | unexpected losses of key employees or customers of the acquired company; | |
· | conforming the acquired company's standards, processes, procedures and controls with our operations; | |
· | coordinating our new product and process development; | |
· | hiring additional management and other critical personnel; | |
· | increasing the scope, geographic diversity and complexity of our operations; | |
· | difficulties in consolidating facilities and transferring processes and know-how; | |
· | diversion of management's attention from other business concerns; and | |
· | adverse effects on existing business relationships with customers. |
24 | ||
25 | ||
26 | ||
C.H. Chen, Director | For: Withheld: | 9,558,135 3,191,089 | |
Michael R. Giordano, Director | For: Withheld: | 9,687,180 3,062,044 | |
Keh-Shew Lu, Director | For: Withheld: | 12,427,724 321,500 | |
M.K. Lu, Director | For: Withheld: | 12,520,182 229,042 | |
Shing Mao, Director | For: Withheld: | 12,576,894 172,330 | |
Raymond Soong, Director | For: Withheld: | 12,519,130 230,094 | |
John M. Stich, Director | For: Withheld: | 12,433,94 315,280 |
27 | ||
Exhibit 10.52 | Lease Agreement for Plant #2 between the Company and Shanghai Ding Hong Electronic Equipment Limited | ||
Exhibit 10.53 | $5 Million Term Note with Union Bank | ||
Exhibit 10.54 | First Amendment To Amended And Restated Credit Agreement | ||
Exhibit 10.55 | Covenant Agreement between Union Bank and FabTech, Inc. | ||
Exhibit 10.56 | Amendment to The Sale and Lease Agreement dated as January 31, 2002 with Shanghai Ding Hong Electronic Co., Ltd | ||
Exhibit 10.57 | Lease Agreement between Diodes Shanghai and Shanghai Yuan Hao Electronic Co., Ltd. | ||
Exhibit 10.58 | Supplementary to the Lease agreement dated as September 30, 2003 with Shanghai Ding Hong Electronic Co., Ltd | ||
Exhibit 11 | Computation of Earnings Per Share | ||
Exhibit 31.1 | Certification Pursuant to Rule 15(d)-14(a) Under the Securities Exchange Act and Section 302 of the Sarbanes-Oxley Act of 2002 | ||
Exhibit 31.2 | Certification Pursuant to Rule 15(d)-14(a) Under the Securities Exchange Act and Section 302 of the Sarbanes-Oxley Act of 2002 | ||
Exhibit 32.1 | Certification Pursuant to 18 U.S.C. 1350 Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | ||
Exhibit 32.2 | Certification Pursuant to 18 U.S.C. 1350 Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
28 | ||
DIODES INCORPORATED (Registrant) | ||
By: /s/ Carl C. Wertz | August 5, 2004 | |
CARL C. WERTZ | ||
Chief Financial Officer, Treasurer and Secretary | ||
(Duly Authorized Officer and Principal Financial andChief Accounting Officer) |
29 | ||
Exhibit 10.52 | Lease Agreement for Plant #2 between the Company and Shanghai Ding Hong Electronic Equipment Limited | |
Exhibit 10.53 | $5 Million Term Note with Union Bank | |
Exhibit 10.54 | First Amendment To Amended And Restated Credit Agreement | |
Exhibit 10.55 | Covenant Agreement between Union Bank and FabTech, Inc | |
Exhibit 10.56 | Amendment to The Sale and Lease Agreement dated as January 31, 2002 with Shanghai Ding Hong Electronic Co., Ltd | |
Exhibit 10.57 | Lease Agreement between Diodes Shanghai and Shanghai Yuan Hao Electronic Co., Ltd. | |
Exhibit 10.58 | Supplementary to the Lease agreement dated as September 30, 2003 with Shanghai Ding Hong Electronic Co., Ltd | |
Exhibit 11 | Computation of Earnings Per Share | |
Exhibit 31.1 | Certification Pursuant to Rule 15(d)-14(a) Under the Securities Exchange Act and Section 302 of the Sarbanes-Oxley Act of 2002 | |
Exhibit 31.2 | Certification Pursuant to Rule 15(d)-14(a) Under the Securities Exchange Act and Section 302 of the Sarbanes-Oxley Act of 2002 | |
Exhibit 32.1 | Certification Pursuant to 18 U.S.C. 1350 Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
Exhibit 32.2 | Certification Pursuant to 18 U.S.C. 1350 Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
30 | ||