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<br />~.~ <br /> <br />. I <br /> <br />Metric Engineering, Inc. and Subsidiary <br /> <br />Consolidated Statement of Operations and Retained Earnings <br /> <br />For the year ended June 30, 2008 NOT FOR PUBLIC INSPECTION / DO NOT COPY <br />This financial statement is private and exempt from public <br />inspection. or copying of public records pursuant to Florida <br />Statutes 119.071 (I) (c). <br /> <br />Contract Revenues Earned $ 37,949,817 <br />Direct Cost 21,544,335 <br />Gross Margin 16,405,482 <br />General and Administrative expenses 16,222,269 <br />Operating Income 183,213 <br />Other Income and (Expenses) <br />Interest income 37,296 <br />Other Income 76,512 <br />Interest expense (89,205) <br />Total Other Income and (Expenses) 24,603 <br />Income Before Income Taxes 207,816 <br />Federal and State Income Tax (Provision) <br />Currently payable (147,029) <br />Deferred tax benefit from reversal of temporary differences 93,000 <br />Total (54,029) <br />Net Income 153,787 <br />Retained Earnings - July 1, 2007 7,308,207 <br />Prior period adjustment 48,666 <br />Retained Earnings - June 30, 2008 $ 7,510,660 <br /> <br />Read the independent accountants' compilation report and the notes to the financial statements. <br />3 <br />