-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ep2kA6ytWI+myMqB/T7DmG3hB/MnwwxLh4KVeWvcL5fUcaqN8WZMe8M4th/b3B3f dzLpx8TW764OExTE0Bb9YA== 0000950153-05-000044.txt : 20050112 0000950153-05-000044.hdr.sgml : 20050112 20050112172606 ACCESSION NUMBER: 0000950153-05-000044 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050105 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050112 DATE AS OF CHANGE: 20050112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: P F CHANGS CHINA BISTRO INC CENTRAL INDEX KEY: 0001039889 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 860815086 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25123 FILM NUMBER: 05526588 BUSINESS ADDRESS: STREET 1: 5090 N 40TH ST STE 160 CITY: PHOENIX STATE: AZ ZIP: 85018 MAIL ADDRESS: STREET 1: 5090 N. 40TH ST STREET 2: SUITE 160 CITY: PHOENIX STATE: AZ ZIP: 85018 8-K 1 p70093e8vk.htm 8-K e8vk
Table of Contents



         
OMB APPROVAL
OMB Number:
    3235-0060
Expires:
  March 31, 2006
Estimated average burden
hours per response
    28.0

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 5, 2005

P.F. Chang’s China Bistro, Inc.


(Exact name of registrant as specified in its charter)
         
Delaware
  0-25123   86-0815086
 
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   Identification No.)
     
15210 N. Scottsdale Road, Suite 300 Scottsdale, Arizona   85254
     
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (602) 957-8986


(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 


TABLE OF CONTENTS

Section 2 – Financial Information
Item 2.02 Results of Operations and Financial Condition.
Section 9 — Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
SIGNATURES
EX-99.1


Table of Contents

Section 2 – Financial Information

Item 2.02 Results of Operations and Financial Condition.

On January 5, 2005, P.F. Chang’s China Bistro, Inc. (the “Company”) issued a press release describing selected financial results of the Company for the quarter ended January 2, 2005. The press release is attached hereto as Exhibit 99.1 and, in addition to this Report on Form 8-K and pursuant to General Instruction B.2 of Form 8-K, is being furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

     
Exhibit No.   Description
99.1
  January 5, 2005 Press Release by P.F. Chang’s China Bistro, Inc.

2


Table of Contents

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  P.F. Chang’s China Bistro, Inc.
 
 
Date: January 5, 2005  /s/ KRISTINA K. CASHMAN    
  Kristina K. Cashman   
  Chief Financial Officer   
 

3

EX-99.1 2 p70093exv99w1.htm EX-99.1 exv99w1
 

EXHIBIT 99.1

(P.F. CHANG'S CHINA BISTRO LOGO)

P.F. CHANG’S FOURTH QUARTER REVENUES GROW 36%

SCOTTSDALE, ARIZONA (January 5, 2005) P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) reported today that revenues increased 36% to $199.3 million for the fourth quarter ended January 2, 2005 from $146.1 million in the fourth quarter of 2003. The company had an additional week in fiscal 2004 (a 53-week year versus the typical 52-week year) which is reflected in the fourth-quarter revenues noted above. Sales at the company’s P.F. Chang’s China Bistro units accounted for $169.7 million of consolidated revenues while sales at the company’s Pei Wei Asian Diner units accounted for $29.6 million of consolidated revenues.

Comparable store sales at the Bistro increased 2.0% for the fourth quarter of 2004 as compared to the fourth quarter of 2003. The increase was the result of customer traffic growth as well as a price increase of approximately one percent. Comparable store sales for the months of October, November and December increased 2.8%, 1.7% and 1.2%, respectively.

During the fourth quarter of 2004, the company opened seven new Bistro units (Hillsboro, OR; West NY, NJ; Lynnwood, WA; Fort Worth, TX; Lakewood, CO; Atlantic City, NJ; and Oklahoma City, OK) and six new Pei Wei units (Webster, TX; San Antonio, TX; Oklahoma City, OK; Lakewood, CO; Austin, TX; and Houston, TX).

The company intends to release its fourth quarter earnings results on February 16, 2005 at approximately 7:00 am ET. A conference call will be held later that same day at 12:00 pm ET. A webcast of the conference call can be accessed at www.pfchangs.com

P.F. Chang’s China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang’s China Bistro combines high-quality, traditional Chinese cuisine with attentive service and a high-energy, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine served in a relaxed, warm environment offering attentive counter service and take-out flexibility.

Page 1 of 5


 

The statements contained in this press release that are not purely historical, including the company’s estimates of its revenues, earnings and comparable store sales, are forward-looking statements. The accuracy of these forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the company’s ability to locate acceptable restaurant sites; open new restaurants and operate its restaurants profitably; the company’s ability to hire, train and retain skilled management and other personnel; the company’s ability to access sufficient financing on acceptable terms; changes in consumer tastes and trends; national, regional and local economic and weather conditions; changes in costs related to food, utilities and labor; and other risks described in the company’s recent SEC filings.

             
Contact:
  P.F. Chang’s China Bistro, Inc.   (602) 957-8986
 
           
  Media:   Laura Cherry   laurac@pfchangs.com
  Investor:   Kristina Cashman   kristinac@pfchangs.com

Page 2 of 5


 

P.F. Chang’s China Bistro

Supplemental Sales Information

Year of Unit Opening (1)

                                                                         
    Pre-1998     1998     1999     2000     2001     2002     2003     2004     Total  
 
                                                                       
Units
    13       10       13       16       13       14       18       18       115  
 
                                                                       

Sales (000)
 
                                                                       
1Q04
    21,212       15,241       18,758       23,801       19,194       17,970       24,724       3,901       144,799  
2Q04
    20,898       14,962       18,803       23,680       18,573       17,340       24,114       8,842       147,211  
3Q04
    20,591       15,185       19,036       23,974       18,258       17,293       24,285       11,142       149,764  
4Q04
    22,459       16,296       20,536       25,749       19,912       18,908       25,640       20,196       169,695  
2004
    85,159       61,683       77,133       97,203       75,936       71,511       98,762       44,082       611,469  
 
                                                                       

Average Weekly Sales (AWS)
 
                                                                       
1Q04
    125,514       117,235       110,996       114,427       113,573       98,734       105,656       95,145       111,213  
2Q04
    123,655       115,091       111,261       113,844       109,898       95,276       103,049       93,074       108,562  
3Q04
    121,838       116,805       112,637       115,260       108,037       95,018       103,781       92,086       108,367  
4Q04
    123,402       116,398       112,832       114,949       109,404       96,469       101,747       93,937       107,880  
2004
    123,598       116,382       111,949       114,626       110,212       96,376       103,524       93,394       108,938  
 
                                                                       

Year-Over-Year Change in AWS(3)
 
                                                                       
1Q04
    2.7 %     0.4 %     3.7 %     6.1 %     5.7 %     3.9 %     -21.7 %           1.4 %
2Q04
    1.3 %     -0.1 %     2.6 %     3.3 %     3.6 %     4.5 %     -14.0 %           -0.5 %
3Q04
    1.2 %     2.2 %     5.2 %     4.2 %     4.4 %     6.5 %     -5.9 %           0.9 %
4Q04
    2.1 %     0.1 %     4.3 %     2.3 %     0.9 %     3.2 %     -5.9 %           -1.4 %
2004
    1.8 %     0.7 %     3.9 %     4.0 %     3.7 %     4.5 %     -7.9 %           -2.0 %
 
                                                                       

Year-Over-Year Change Comp Store Sales(2)(3)
 
                                                                       
Units
    13       10       13       16       13       14       7             86  
1Q04
    2.7 %     0.4 %     3.7 %     6.1 %     5.7 %     6.7 %                 4.2 %
2Q04
    1.3 %     -0.1 %     2.6 %     3.3 %     3.6 %     5.0 %     -13.0 %           2.5 %
3Q04
    1.2 %     2.2 %     5.2 %     4.2 %     4.4 %     6.5 %     -1.7 %           3.6 %
4Q04
    2.1 %     0.1 %     4.3 %     2.3 %     0.9 %     3.2 %     -1.1 %           2.0 %
2004
    1.8 %     0.7 %     3.9 %     4.0 %     3.7 %     5.2 %     -2.1 %           3.0 %

(1)   Includes all restaurants opened in the period indicated.
 
(2)   A unit becomes comparable in the eighteenth month of operation.
 
(3)   The 53rd week of fiscal 2004 has been excluded for comparative purposes.

Page 3 of 5


 

Pei Wei Asian Diner

Supplemental Sales Information

Year of Unit Opening (1)

                                                 
    2000     2001     2002     2003     2004     Total  
 
   
 
                                               
Units
    1       4       11       17       20       53  
 
                                               

Sales (000)
 
                                               
1Q04
    873       2,297       5,918       8,935       1,234       19,257  
2Q04
    864       2,203       5,750       8,758       4,816       22,391  
3Q04
    834       2,094       5,583       8,853       6,886       24,249  
4Q04
    945       2,332       6,151       9,486       10,661       29,575  
2004
    3,517       8,926       23,402       36,031       23,597       95,473  
 
                                               

Average Weekly Sales (AWS)
 
                                               
1Q04
    67,145       44,170       41,385       40,427       41,147       41,954  
2Q04
    66,490       42,368       40,210       39,628       43,388       41,466  
3Q04
    64,145       40,263       39,042       40,059       40,985       40,618  
4Q04
    67,526       41,649       39,943       39,857       41,002       40,963  
2004
    66,349       42,104       40,141       39,990       41,470       41,188  
 
                                               

Year-Over-Year Change in AWS(3)
 
                                               
1Q04
    1.7 %     -2.3 %     4.1 %     -21.4 %           -4.7 %
2Q04
    4.1 %     -0.3 %     1.8 %     -23.2 %           -6.5 %
3Q04
    3.9 %     -0.2 %     1.2 %     -14.5 %           -4.9 %
4Q04
    7.3 %     2.6 %     3.4 %     -0.9 %           1.3 %
2004
    4.2 %     -0.1 %     2.6 %     -10.9 %           -3.3 %
 
                                               

Year-Over-Year Change Comp Store Sales(2)(3)
 
                                               
Units
    1       4       11       8             24  
1Q04
    1.7 %     -2.3 %     3.4 %                 1.6 %
2Q04
    4.1 %     -0.3 %     1.8 %     -2.7 %           1.3 %
3Q04
    3.9 %     -0.2 %     1.2 %     0.5 %           1.0 %
4Q04
    7.3 %     2.6 %     3.4 %     3.7 %           3.6 %
2004
    4.2 %     -0.1 %     2.4 %     2.1 %           2.0 %

(1)   Includes all restaurants opened in the period indicated.
 
(2)   A unit becomes comparable in the eighteenth month of operation.
 
(3)   The 53rd week of fiscal 2004 has been excluded for comparative purposes.

Page 4 of 5


 

Reconciliation of fiscal 2003 52-week year to fiscal 2004 53-week year

Bistro

Year-Over-Year Change in AWS

                                                                         
    Pre-1998     1998     1999     2000     2001     2002     2003     2004     Total  
 
   
Units
    13       10       13       16       13       14       18       18       115  
 
                                                                       
4Q04
    3.9 %     1.8 %     6.4 %     4.4 %     3.3 %     5.8 %     -3.7 %           0.7 %
2004
    2.3 %     1.1 %     4.5 %     4.5 %     4.2 %     5.1 %     -7.2 %           0.6 %
 
                                                                       

Year-Over-Year Change Comp Store Sales
 
                                                                       
Units
    13       10       13       16       13       14       7             86  
 
                                                                       
4Q04
    11.9 %     9.6 %     14.6 %     12.4 %     11.3 %     13.9 %     10.2 %           12.2 %
2004
    4.2 %     3.0 %     6.5 %     6.5 %     6.3 %     8.2 %     3.7 %           5.7 %

Pei Wei

Year-Over-Year Change in AWS

                                                 
    2000     2001     2002     2003     2004     Total  
 
   
Units
    1       4       11       17       20       53  
 
                                               
4Q04
    8.4 %     3.8 %     4.1 %     0.0 %           2.2 %
2004
    4.5 %     0.2 %     2.8 %     -10.7 %           -3.0 %
 
                                               

Year-Over-Year Change Comp Store Sales
 
                                               
Units
    1       4       11       8             24  
 
                                               
4Q04
    16.8 %     11.8 %     12.2 %     13.1 %           12.7 %
2004
    6.5 %     2.1 %     4.7 %     7.6 %           4.8 %

The Company’s 2003 fiscal year was 52 weeks long, and its 2004 fiscal year was 53 weeks long. Management believes that the presentation on the previous pages of the year-over-year changes in average weekly sales and comp store sales for the 4th Quarter of 2004 and the entire year 2004 (excluding the 53rd week in the 4th Quarter of 2004) is a more meaningful and useful gauge of the Company’s performance because it makes consistent the length of the periods on which the comparison is based. The information set forth above is a reconciliation of the year-over-year changes in average weekly sales and comp store sales for the periods indicated and as provided on the previous pages. The changes in average weekly sales and comp store sales for these periods are solely attributed to the inclusion of the 53rd week of sales in the 4th Quarter of 2004.

Page 5 of 5

GRAPHIC 3 p70093p7009399.gif GRAPHIC begin 644 p70093p7009399.gif M1TE&.#EA&`*7`/<``%]?7W]_?[Z^OB\O+S\_/YZ>GD]/3^[N[A\?'P\/#\[. MSM[>W@L+"XZ.C@4%!?CX^.;FYO+R\A<7%P,#`P<'!P$!`:ZNKOKZ^OS\_`(" M`A$1$1T='>+BXN#@X&]O;P@(".KJZO;V]NSL[",C(QL;&];6UCCHZ)"0D/W]_8J* MBI24E'M[>]+2TDM+2VEI:2`@(!45%0X.#KJZNBLK*S,S,QD9&4E)2;2TM$-# M0W!P<#T]/?#P\-C8V*"@H+"PL+BXN'=W=U=75T5%128F)MW=W3X^/FMK:X>' MA^3DY(N+BX"`@,7%Q2PL+./CX]34U**BHLC(R*2DI,3$Q$9&1DA(2%5552TM M+104%(2$A-#0T.GIZ:RLK'-SWM]S7F9F9JNKJQ(2 M$DU-3;V]O00$!-O;VVYN;AH:&G)R'EY>=_?W_/S\[^_O]'1T:^OKXR, MC!86%N?GY]G9V3`P,(&!@2(B(B0D)#0T-&5E92$A(5%148B(B/GY^4)"0D1$ M1*BHJ#HZ.JVMK71T=+N[NRHJ*BXN+H^/C[&QL=/3T]75U'IV=G86% MA;6UM:FIJ5145)N;FVQL;'IZ>C@X.,'!P5965EI:6I65E7EU!04$Q,3.'AX4Y.3EU=7<_/S[FY MNGIQ@8&.7EY9.3DQ`0$&AH:(F) MB61D9.WM[?___P```/[^_B'Y!```````+``````8`I<```C_`/L)'$BPH,&# M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/(!'^&TFRI,F3*%.J7,FRI?.+/7P)_54RP()`@W4AG4BA$T,JVK=NW<./*G8@$0<"C%GPPP`@L>.N;'/R72!H5\(M9H(TE8+$#C2$_4\D$: M`Q!B`RA=>4(2!PZTF!<=#@APXW`1'"!`!RB]HJ0S(T'000%Z`2A'=I,8D"1M M,T#PY)GL76"'``(,4P@"W[C@R!L8Z*!7!=AUY<`VKAS``3J/O5"/?[/1D(,` MI*"9V5_^2/##AB2=HB0;%HYT`A_^%##-(6UXX5@4`Q38H@**EEI<(#70-@$' M-B@)&1?_*/_@X23IF3I7I5'>D6I7+I`4@@P0.*&D.'"4,Q(O"\#A0#<;Z,6$ M(N1A<8F2S-AJ[68>9,>``"<0"ED&##B6@@LNV%'$/[MX6($PU\*%R`8##!#N M&"'D18,=(P602@@U0,%`-X%X*%F6$NAW@`U[*%E"NPP?ULH5KD(F`0C2^!-% M8P:4!(22=*!4"34Z6'%`PT6)L(=[CO$122U===/!#W,XL0$HX?SR3@\>IN!@ M$O,DP^5L#%3@ZBRJD&RT7'>&0 MMX=.&(`/;4R\9T0(GL=>%0ISM.C`#`$,,%L0-PSQ3RR*<"%;=J@H4$`,?R!A MB#\7_.-#N/XX08L!&>CEP0IERTY3":$_AD`,IW\PYFP(Y!#`(_]8,1L+&+`! M3=J0S:C]_$_)4?WICBFA0!THT*%D!0C@0R&$UA4)G&$;7>&#!43EF%303R8" M(``)(#.!2>2-`$:8@JI*L`#!-.!^WF-#`L[@BMD8XH$H#`H0JH"_W;4P+PC( M0U<($`&\068.*7S)"=QP`$*080G=FT!^_][GJDW\`WS#^X\2_*$)2=Q`7::# MC)-R2$6=((&`D!D!$JZQ.SN8P0$CD-L+9T.`!C!0+Q:H8DK80`4;C",6(U'` M$S+Q&$RDP54PN(,,HS&F_#@F""!LT1\"@+*NF$&-B*P)#/SHF`WT``G9>(-V MNH"!-W!`%..#C""B&+$H1.TQ#`A`(DE"BHKE900$(,MLEO!)#_U"4B90`1BZ MHH5"Z`4,PHH8NS`Q@[P,P$RC#&9+U`"%&\;!*]"##`-&HHE3S)(V3SB![B+& M@&3ZPP%@<$`,D.`!87K'52_H@!8B9@TIR($K7>$-`0H4@6]&;&3_"`0``,`# M4@GSGBD1@0GT$O\$1BI)%]DIT0C^(8"(^:!U>DD#&_XQLA!P0S`J.%??(*`# M2*5$$7A1D@[^T8%G4,-#XS`"$0``APGZXY#_((`N'O&$:"Q#29!`J"7P2=.6 M$`*+7Q!!!\8HF^&=80D.\`((*.&J%3RF!E;X!@I.<`1B;,``#-B"M1[@C`*F1<-F".3_IB!`=(@!1@\8!6=0(`4LN.!8CAF M$?`DP!*8J:0V<*`!J7!`HFI*6)0L80,(J(460(.)N8T`#[?(2P\:8=(\=`@8 MZ/A*BUAP@5RV:`+2L%4$F@`'0M&!%B$H15`23A'03H@S_2*(UPU4(4&\C"-5+0(A)4X1_!"(*K6-"2$M1*/2!8 MQ!T\\1@G!&*?>>D&A%`2@7ATY0G)8()M\U(!3_R``5(HP"%,``P'&>`;)FB6 MAQ)0C`+H8`I?,0(6()`(#+0C.PCX@S*FR^*5?(4$1\!#][+SC3B.=R2=P.(, M3-`!&]*F">H8R3C%YB$*:)4E`U`"=T:"!15DCS,<\,$(_"'?QVCA"-Y3"00( M4+!#))'!)F"``5:ADFFT:`HG((DJ"M8-P1P@_SLI:+&<59*)4V```X'HI8<0 M,!(V^,,8`C@`!.[(3S"YX!>`@(`N'/`'5:#@,:G855ZZH)(+"$`9U0/`2!KP M`?\$(A3KV`P,9JPD'#!"?8P8"2(<4(4:A$!]_IN--H#)4"UX0`TY@)^'Q/R) MDF`A%&E%ABQBK1=6_&`-;%"B%HPY(+4X0#'.`!*T!KQ&:`A7\X M(XK'\!`8%I$`5G!`:7U@KY*%";9HT1&0("OD@"4!C.%N^Y9THP,$#J!*QA` M!2!AD@>X@*A*&H$`)*"!*8RD$;+8!-@AXP;D8V(D7)J`NUU5!5C%99H#\A#_ M"SK7@2ADIP#_<('L7UB21F3``1S8O?Q5(H,=%#0!)N!N:$WRYA8*(0`?T`=' M-QM*$#@?0!Y8UD+`8`/@8`13U!8G%C$9,Q)=-QOH=P_KAS^T<`$<$'_"X`\W M,'\BF!(7<`"P$P;A(@$+4Q(/<$P9^!X`D`Q+D!0@.58&YI<%]487>N,@`D M`%VB8&#?(@81@`I8-(;9,0L!T`GB0FM?@/:Y!1D/$! M-`(#-T@;>B`T+>`[)B$#GW`&S-$#TV`#T>43B(@_A=!SD-$"*-`!I'`(`+\(10,\2(PD@2;>``4H!O!+`&LB")2L(`?.."ET@C7`"% MV4$!:&`2(K`$D6!V#.4.D``$/0$!_B2)U_`/-O"!V4'F]@B+:!5TY<7O&$2QE,`!1`XC@(" M`!4*\JB/(D@Z>B$$$2!-#O^PA.\Q=OBS4`!`&QM0!>!P`X,8,?;T#SKP"+*2 M/__@!G7`$QCP">D@`#OP1&-X""-!5OX`"6_P!B5`#B5'&_N`%#\P7'DQ"%R@ MB!C0`-[2%=^`/O]P!^ZQ!Q`742`'&Z`\+XT\O8``+F9KSM&#^H`<%8(FT80)VN!*1 M"!EF8`$68`BV%0K!*8(/`#%Q$$>P4$``,``:0)TF(0BOV14)X#N:\!X2T`?M M``60D!=[L#!O,X9,P`X&,`D,<(W_D`^5L93SE#`DL!8"@'X^`0`9(``K$'_8 M`!FT8`TP\$O_D(!=80L[D`<#4##`Z!A'<`&54(230"Z<<#A6V!(V,%B=`$A*7N2<0+Q M-Q)C`(Y+:3TC(0#9"9IL,@3-Z0\XT`@D<0%:8$T2@`LG_X$"Z3!!&H`"!5"7 M#Z``A90"?SH2FU!Q.5`2%\"-_\`,1-(5``".(Z(`J-J06KI[V>(/[="0,O08 M#F<2$:``R;EI+0(#[C8#6;``"F!^V7$)$."*'I*I)($'I+*4(T$%UR0?%D"C M/M$&?E0,\ZD76#D2"%1`>=$"M6<2SU`!&F!X)9$%C%`)%B`<)($!HD`##D`+ M5N`)`J`)7X`!_88&N50!UT!FJRJ3@#`+0H,#87(+U9H7%(!W+/$`9I`&#I`` M<[`,Q-H5""``FR`>"9``C`20GZ!!3$@J)$``7U`[C\$)E4`.LW`,&L`))]$! MJ8"9WEF9$[0`&'`&,:D3$"":`/]:-@]P>8V"#1/``F10"S<`3R61#%*``^CJ M$K_@!H[P&"R@#2;@`98(!J:ZKS*I!I@ M`"(0!FZ@%Q3@!;C`IO^@7-V3`GZPM2O0`'?`-7D!!E02#,J@!FH0'HY!`TYQ MD9@`(J%8#LB@K!3H#]E@`\U@'29A5+O&`E::'%1PIX%``1LP6"2Q`'\!MBK! M`0C0#!_`!('C&"SC+-A%M:Q+$@_`D?[``#9`$DG@?0OC'1M`F2/Q`*Q``!H4 M!:`Z$@4Y`PN0I22!"WKQ%2VP?__`!?KF#UTP#K?``@9[$B=P"#O@`=TT$H3@ M`:TP!2O_AA,[,`#+`)PD`0@S.#=AY@_!P+W^0`)"^`\!80%)L`4?`*'^X#^"``%1]Q+EX`^B=!(1H&L4\+_^H`&8<0!)D@`!$&3%PQ+]$_`]#L%S^,0",\!AD4`!Z$`@]T,,JH3O0 M2A(',`(),`PE``Q;$`EY40H*L`7`FAUII!)#<`\WD`!].&%+7;$'`(T_$@``*M`! MKP`#'E``FB4!W$D2V7(+D/+,QEH2'C(&`^L835``'D``_C*SWSR,K3I[+/$5 MME$27-$)P;`$V`$-(U$">]HB`:``:_^A`'FB`<*``@"I!/\0`3``TF'+#;C` M`@'`2!/PL!%3"&O!#'K@``Q4JB7Q37202AG2%0]H$M3\0HG@D"&MCS*PQ4NG M%S@P!Z8;,$I(J:6,X`:A@)K\`&2;A'?OA<7G1RB6!U"]4`5$0!6[; MU?/W`Y=0`/J;MK3!`Q:0H=F1>R:1D0Y<$FU``AI@",V#`7Z@`2.0`V-@`VZU M!DG@`1F<'=H'/17P!J$R`2>]$JH5D/X@".D!7(Z!`]50$C^91O6F"H,=`RB! MERU"#,L@#M3_^!BUT*V>O7LF5;'/JQ<(\-UY<=4DT0%"$P,'L`("^E$#4!(8 M\`YY`0L4L`0:\"*J$`XO1`/JDQ=PE\0J6[`\UT`-10&R^F0<=``,%\`,M0@[CO7L[X`-'<-XMI-HL6,\, M,`"95-\E,0:/(0@J>KJG\WYZH0%,X`"+X,\ED3`!20&@X`/_$`)\,`I$H!)C M,`!"2U#!B!*MTA5R0"I%@..`T0-`8`$0<`*`^QXYH.0I_G8EF1TN_AC;:Q(G MT!43T```GAH-1>@DSJ#@"0`I?C"&024J$V`,D0#4(\$!/T`"-/#!S\RX*5$" M0AL,#1HQ%OL8E,[IA`$"=TH='8#9Z"V$`0!"&B`)9C(^5_#L)/$S-6`2'N#J M)H$'KJ`%B]`57T`*)Q"9A"BT#S"&3K`$6P#B_E`*6]L`7'`$#N(7!.)+,>`# M(8"C>:$/+7$$RYX7)/`7!%"A70$%]E"!70$,3B&39<`#`!!DU7$&#!#GU'$, MMP`,+=('!G`%>>`%"]8"[?L/95`*!8/G)O_Q,P\,T>:.$HAP"8L@&`_P!J49 MD,9%$A$8A7W`!`T?URR``*))`0!O`E[`'#J03`"6%Z!@#%),$H[`0`E`"R<@ M)O]`"([1#&/0J2S2`L-3T?/#`>!@`3^@O=J;!YWM$[$Z@=11@2/L&FD^-RG0 MV=5@`.F&$DB`=.3N#].^$@^@`H,=D":P%%E2!]#0PF,4]%:\`)2_`%?_#R"P M"Q3O&*]GO"-Q`'HV`5]@!R/3`;XPIL5D4IJ0BO_0(?NP`BG0#K"L/1S@"J<0 M\,H4%(.]ZL11@8U\%0J@!-87!&7@@# M_%$PX*_/@7_)5)PQ2&R!!7\%'E2J7!#!JH<_;K6@>J/2@P@+V%GX%,#V_^T` MFRQT^$6&UIXF?X4?-($!(X0._Q`(#[*F2T%=ADL<&C[BSF+LV;5CQ&!CT0>Q M#!#P`!#/2<'M@[>OQXC8GV+V%ML23*`WPHIJ(O8@6;B`X"('0(G@'Q2048B4 M4WI:80$&&41!$*D<(*`+"]2XRY+A,LS`#QE.\H,U`&@BJ`58#BH`"8)F".,N M&780X,453B&!.1W6B.]&'/521IJBI&(@BCQ<>&2!!_X180[TM%,O1R;=@X]) MACR(R3!9+%3H@$'>RV&+AT)HH`*"Q$-@3`26,FB"!!#8!+.\E'&@H`P.86$X M`FXH"`X""##@28WPD,+(&Y0`P(T(6/-'@A%0^/^"(!WPHL+0#/W1X!6`6$_"`JH,-R!A#K12M39'7F"`M*!1YG`D MA(I:`8514OTA[%KL4$4W!X)2`!?=(>@8CA-U.MQK!6H(`B`"F*B:`$P*/D7W M)/?^2F&;`0<^J807&W;X88@CYA,[`6:(:@(D3LC(#X+8*/=#K#_@(@`JB`@A02Z]CJ!*`RHPX*F+?KDO$C%FH!+[4"( M@56#YLC!RHR*,-8XAH!808$B\EHRKP?8#`R+J?,:.=4=^/@!-:`O,`*F("+E MPYZ[8H&$F$&`>,.02R"Y9D5'+*&B2!A*`/HC5Z2"HX!@%`!B,8X)6F"A$V#( MHQS)(@TE!Q$P"B#MOP+0;A@Q#I*@E!T,4P%`"8;QNU2]SAA`$WOS$F6&*<`Q MO*,<%4"C@"[R@$^-Y$]/2.\"WNE#*.%"R>L8&!A*V/R[0)CQ(`=F5[(@(Q#Q M@0P3]`MX!>'#.B[RNP%217B+`0*[#C(%#F#G`+F#PO/,I9<.]$L8>WF3/^*P M_[W$K$<%`B""$)9C$`H`0B^\"(<)IJ`.'#U@"^XP0`U/2)4>X(U^URI`5#(0 MB/7,)P$=3&!4*M")ZCD$@47$2246$P$=',0)1]#.!`F"``N"+"U1+(C`[E*0 M"FP#+X5=XF`(?X0N:@P``H`D(0S2G"`<^KK+A8H M$4$FX+&!%4$+HSB(/@MJ*6`<9($+)8@$:B"+P-A@('?2*$$XBJYJ\+(@&^CD M>DB:1;SX0'7M3(M4G.'.]^`%#YR8R@T883J&^$>H)T%#&OUQC],)X2!7L,M3 MF10"E?ICJGZ4W6(Z(`'3=-7_'U^U5@2V2A!BE&^DXD1K6B[0%8((L`5`_&)4 M9N!%F;X3)';89$$F,(!=E&TA#RB9/UAQ$@A8E""N.MT#_&*0)1B625J(RF++ MY8^R!@8&KK6!$C>*K@BDP2`26!&.SBI*Z)U$%`5IPBT)(@>\3(6W&B'C11[@ M":(9)`:.P`@(GI"$DYR##P91`CB!I@6!-D&X.9*25&\TG^3N118&H:Q"L(FN M3G2FNM;E+'8OF)9"M"H$-R$('9+35H*PX)@Y^$AY*V*!8ASD!5V(('L@L`># M4"./H3K3"O9[H_X:Q+C[:^QB'$%@YWKU6M4P"`[PFJ/KDC.['W&$*0KBBG_\ MP""E_RBMN;*`4W]T`PODG>E%FE%4HW[AGS>*1WH'L<:!L=@@>7AQ?%(1%4C\ MMR`!UDN$G]N0`Z>J#)`-4_R@%&23#EDCU"'("!(2@1Z!TKX:*J+\/H?$)@501Q@HXL(.R$'",69",&D71E$$D_%]/\5HRUMJ51@"MPX M+IO3,H3B%20*JI!L`R)V<0&\`=YW2;"]X6LI6(-$UA61P29/P1!K&(0=)Y'W M/P+`/CB`(-]5;@@@IF"06E`J1Z+8U@:V$0`A"*&&0T]%`)X@BW>9:@*:X00_`S!X1B,@@T(CZ=C!` M!/8=A`_GR$[6\7(!+E#='QEP047`GC8)%*8&IA'UG,`M MAU.DY0028!,:81%A*[D@#-@RC@#_(=8$9J`0R+"FB6\>%0\T?CUGGLHD>H?U M->=%%G`PBC8L\OE(A3XP]2@("E*5=HVLW2$E*(@#G->0'A:D![O6* M,-H>`NT\D^+`1#A-`;7;"4-MD:_\[5@%.I,*_8*^&CN)$^`!*".(#?B$`RH( M"2`3"9Q`"82"YMJ+5B`:[4.[TXLU/;.(2RB(*GB(5;@[@I@#9,N(V?N'$!@! M@Y"'^*,YA>@%@S@[*"D8=>.#`/`#I6D8&`B`0K@A@]"#:EF/).`FJ9"`"P3` M[-@$L3B_PK"\C`""8U@$OR((2C@\`WNS2LD9?_`":P&_C!`_AMB!-!JXAX@& M@QB'CUC!_W]8`RAS@$>@"`\+!H.H@G&[D4QX$QJH`3+8`@5XOHI``VQ`AZC8 M!MDJ##L`OJCP/B:L(EDZB#$$@SX M!0L8@N*["$`P@U@T*C;,CBRXK*BH@4?4#AFP`3N2BA$(!DJ,/HL(`QA8%!\1 M@OWS/"YD$GXI1Y#K0)&K18>X@V'R!T:P"",H"`KX.XQP0Q9TP8(HA40L+RU8\>&`"U_&*^*$"Q[&T>'P,>$0`6#L(5=I#D(@)1_:[P'R!V"0,/"``VJ M\$BBQ`@JB`,6T$BQ4`(8`(?2V\H!2H`I6).\J$H@PTI3!*7.LH@MF(""8*^+ M8`>F(HBQNT>N+`,D*0@OD"@RV@6G`,`=@)19#`PU%(LH.(-$S$N,F(Y``YX7 M`,MU3!M@0`4!R,.34$SK8DR2U,KPX\K_A?"&@IB$UFP("O,'*9BR>!-./#B3 MM[))FGL]!GS$.0FMPA"&470++7#-DT!+_".(03"WO]@`.#"#A=P+WKR1JT3' M5P/.,13.A``!@\@$C<@$@W"QYDP]A^@#@^B&%-P(FI/+#V)"-S`(%$G48R*`?5:'2!W\LX([?=CM M0-CUB(5G*]#",`*5V*V'X(`%L(.MFM;:)%$\@!0R/8E'J$]VO=7YU#Q.\,HG MB0>#J%60.`"O!-$<@0`D](<$**R6_=>`)4H(",\?J%E2#<5+.03VD83CU(@P M&+VJ6`@18(&D$"A_<`"7Z5N__=N^-1,230>\*P##/5S$35S%+8!G@P(8V((" M"`34:E>&>,YNHCDN8!\F2XLS("*N_8=U$(,!\(*RS0@16)F"P(6\.%G\,P%5 MA=E_D,L!&H&5K%";U0Z<70\.X#H<:,:[P(#_1'C("A`"7EB(`YU0JDC%#A!2 MY/6'"7B3%A@$4:-:GL( MLS!@JB@KZEV(`QA`'FV(6?6'*+@Z\ZJ"@_C9$[6 M9(-(`<--K@:>+5RX7H=0V1X+%HOH`!".BL_]!Q`HY8.8`"60-)`(!Q8]B/4+ MC(!+(`DH'#=6"$M@9.'0.;4UC$T0B@1PHH]\Y8HH!*+)!7[X53/0VQ8@@"40 M5@O89@LP@QH0!+\L!DPXQH=`!G`S6L)LO6>3`MU,"ZLE"!*8YH88Y84(`T:, MJX:0`6-(5X*H@%D(AT.^DFP8`R'T7(N0@6/83FZQ!5TPAB%YXH2X@`7(!O]" M2(=EH&(<.(,TQ@A'6.(,X0\WYF05%@ORT.1\I6,T-<"4;N:[T#QSQ0LBP+(! M,@4DR`*0F+:-M=*&:(F".+G"H`)ZRJAYCF*&P,\(=@@,6$770@``,`-!:@`` M(`!Z(@AJ`%F0O(@DV(=KQ`D$,`%.]@)%F@H2L$_#N`#J&Z`,0!DW9F*VC<^5 M+@R-]8==AC.4M0C9#<:\6(!"\&BWJ(6Y2PN<+M@1;0B[G(S2K0B1Q4=Z9@A- M/3Q&T+SA^`,(@&$;,(>1'@X*H(2D,PQ4!IXH".;8!5S1'FW`O;V/L(*"(()2 MZR`:H#B63@LBZ*`IV&B,X``=N.PP@8A4[/C:2+$#T%:8`R"'!K#EQ5B`(_@! M3(WNA5"'!MCCPKB`1FB`&"``?B6`&#@"O,Z++:#O;[T+1?`%`F"&AH@`'B"` M(]CLPO`#R=P$AP!A"E#ENWA7?V"``*4(%+`"OFX7?1`<]$Z($W@&*\#!J8@" M>7@&B-X+(6Q>9^YNU]SP2@&!!DG1[NZ`9G*("*`"1X#QB[B`1Z""J=0(#J@$ M1O"`7LB3./"`!F"'<6/Q_DB";48"#WCR)_\!*B"2[3AQY$UQ%2=*)<]R+E^, M+4<7&\`X,1]S`1C,+O?._R\_?QC1_=F[O=F__=G`/=VLH]((B=')7'\' M^/_&`P!*V($'0`)P0``&4`$.L`5?@'B%(05*,`#5!OE]E_BH$X5B``]:((4! MJ(%-:``O0$J3KWF;KQ16"!.L>O,&6``L>(($L(`!@`%.F(%PH/F;3WJEWPX( M$(`.5G$#$((RL`,A][`!^[,#^/DB8XE^/=_0'M2PSYG\!1E0"[`"(!OX& M)OAG\"#"A`H7&NPQ<"`"!/YH,:QH\=^"AQHW!KCH$>&!`1LW`OAH\F`.!R,? MCCOI\B7,F`D53=#8RYB%G"!D5DSPL.1!GP,)\&08X"&"H@LS/JS0\5_(@0V4 M5E2U<50KJEI="M!HA-28AQNV'A1(D*S!"S<>,EFPX$<6M"IR6@BGD1'=$F2C M#H1B`8!&4_/01C#UD,&9.AL>_W9[@_8Q9(,I-/*(C%"H/Z`&,1-%>Q3B8Z:' M]?*=&KG.2"265W=]6."?@H<#'IOU5Q#M`8T:VJPV*-J?@,A\_77>>``M$8TP M#+8>J*,W])@=-#+!`!VSC@/:#SAYV)GL9W])T?X>.")"Z<@@)`PL5&&@!$31 MT3;W=X1#GX$5&-%^>)ML$4MHU$(CO?T6'&3#$76!1FD4`>!B`XUET`,L/)2& M=?-I>%%L#QD0'68K#?58>..15=Y`TJ0'&3T0+2#10!9LJ%5]&C%`#F2U_4?6 M"35I1,1J!PHGTD`#^""&1J7@IE$-"!&BT0(S2JF0&QI]>)V(&GVW58FA/<2) M.`--D/\(D::A=0$/`^6`@0$/U2##E#S5^%`&H533WUF0<:&!1AFP89F0"1*Y MDB`[[:61!P@5`&6Q+]16`@3:C/*1$K?ZM-H0<&OW0 MJT8(_CHH`L4\Y$L$CX6`V2T'%2'$0Q(035&F)@Q4@,+-8R6D$' M-33#XFT:JD$81)+!T6C1,!`#"/F@D1!U5ZT1"X6$F$^Z>9+%S0C^2#%`J0]A M,O9`9>^5\C_8-)4)9#'8B(-&N'PM>70/E)+V1E',OI7?'F,*WL=;B6;F!54D MOI4E#WD#4ML;7$#[0G-J!$M<9&V]E2LB^C*UPZ4/.31W%_+R&!;HO#=2%6I` MKR$',0QJW@Y]_R3T[UP&;_+Q_S@2D&')/$'RD"02H@2-4&%]"9&>/^B@@Q/@ MR3:_JD/G*&,)0,7K>Y@*RP8&P(*8$886H1N(`\:0+P.2L(0F/"$*"78``0@` M!2E<'PM;^,(9TK"&-KPA#G.HPQWRL(<^_"$0#=B/(1*QB$8\(A*3J,0E,K&) A3GPB%*,HQ2E2L8I6O"(6LZC%+7*QBU[\(AC#F,2````[ ` end
-----END PRIVACY-ENHANCED MESSAGE-----