Exhibit (c)(5)

SCENARIO: Phoenix IV Buyout Analysis

PROJECT PHOENIX

10/24/2007 4:47 PM

Table of Contents

Section	Page
Sources and Uses of Funds and Financing Terms		1
Implied Valuation at Various Offer Prices		2
Return Analysis		3
IRR Sensitivity Analysis		4
Model Assumptions		6
Pro Forma Coverages		7
Financial Summary		8
Financing Assumptions		9
Income Statements		10
Cash Flow Analysis and Capitalization Table		11
Balance Sheets		12
Debt Capacity		13
Debt Schedule		14
Supporting Data:
Pro Forma and Operating Assumptions		16
Depreciation and Amortization Schedules		17

Structure
Cash	$	5,385
Revolver		5,000
Senior Debt		25,000
Subordinated Debt		20,000
Bridge Loan		0
Preferred Stock		0
Common Stock		32,500
Total Sources of Funds	$	87,885

Case: Base

SOURCES AND USES OF FUNDS AND FINANCING TERMS	PROJECT PHOENIX
Case: Base	Page 1

($ in thousands except as otherwise noted)

TRANSACTION DATE 12/31/2007

						Pro Forma
			% of			LTM
SOURCES OF FUNDS	$		Capital			EBITDA Mult.
Cash (c)	$	5,385		6.1	%		0.4x
Revolver		5,000		5.7	%		0.8x
Senior Debt		25,000		28.4	%		2.7x
Subordinated Debt		20,000		22.8	%		4.2x
Seller Note		0		0.0	%		4.2x
Preferred Stock		0		0.0	%		4.2x
Financial Sponsor Equity		32,500		37.0	%		6.7x
Total Sources of Funds	$	87,885		100.0	%

TRANSACTION SUMMARY

DEBT SOURCES	Amount		Rate
Revolver		5,000		6.50	%
Senior Debt		25,000		7.00	%
Subordinated Debt		20,000		10.00	%

EQUITY SOURCES

	Amount		Ownership
Management Equity from Stock & Option Roll-over *		5,700		14.9	%
Management Carry		0		15.0	%
Financial Sponsor		32,500		70.1	%
Total Equity	$	38,200.4		100.0	%

* Management Equity reflects the value of contributed shares and options at the offer price of $14.00

DEBT CAPACITY ANALYSIS

LTM EBITDA PHX I	$	13,100
Debt/EBITDA Coverage		5.0x
Implied Debt Capacity	$	65,500.0
Reg. T Loan            0.0%	$	—
Adj. Debt Capacity	$	65,500.0
Less Current Debt		(13,730	)
Incremental Debt Capacity		51,769.6

SUMMARY CREDIT / LEVERAGE STATISTICS

	2007 Pro Forma		2008		2009
Total Debt/EBITDA		5.0x		4.2x		4.0x
EBITDA/Interest Expense		3.0x		3.5x		3.7x
(EBITDA — Capex)/Interest Expense		1.9x		2.0x		2.1x

USES OF FUNDS

Purchase of Phoenix I Common Equity	$	69,486
Refinance Senior Debt		0
Refinance Capital Lease Obligations		0
Tender of Phx II Shares		14,900
Other		0
Other		0
Transaction Fees and Expenses		3,500
Total Uses of Funds	$	87,885

TRADING INFORMATION / VALUATION

	Phoenix I
Enterprise Value	Current		@ Deal
Share Price 10/19/2007	$	11.75	$	14.00
Fully Diluted Shares (a)	$	4,963		4,963
Equity Market Value	$	58,318	$	69,486
Plus: Debt, Preferred & MI (b)	$	13,730	$	14,900
Less: Cash	$	5,816	$	0
Plus: Transaction Costs	$	0	$	3,500
Enterprise Value	$	66,233	$	87,885

Multiple Analysis	Current		@ Deal
LTM EBITDA		5.1x		6.7x
2007 P EBITDA		5.4x		7.1x
2008 E EBITDA		4.2x		5.6x
2009 E EBITDA		4.0x		5.3x
2008 E P/E		17.1x		24.7x
2009 E P/E		16.7x		24.2x

Phoenix I ownership of Phx II:

Share Price	10/19/2007	$	12.15	$	32,139.3
Shares Held			2,645.2

EQUITY SPONSOR IRR CALCULATION

EBITDA Exit Multiple	2011			2012			2013
7.0x		20.6	%		25.4	%		30.2	%
8.0x		26.3	%		31.0	%		35.7	%
9.0x		31.4	%		36.0	%		40.7	%

GOODWILL CALCULATION

Purchase Price of Equity	$	84,385.3
Less: Tangible Book Value of Phoenix II		(44,124.9	)
	$	40,260.3

(a)	Fully Diluted Shares equals 5,133,971 shares outstanding plus 212,989 exerciseable options/warrants less 383,708 management roll-over shares and equivalents
(b)	At close of deal existing debt is refinanced and the tender for Phoenix II shares is added as minority interest
(c)	Available cash sets aside the $20M needed for bonding capacity

IMPLIED VALUATION AT VARIOUS OFFER PRICES	PROJECT PHOENIX
Case: Base	Page      2

			PHOENIX I Offer Price
			$ 13.00			$ 14.00			$ 14.50			$ 15.00			$ 15.50			$ 16.00			$ 16.50			$ 17.00			$ 17.50			$ 18.00			$ 19.00
Premium Calculation
Premium to Current Price ($11.75)				10.6	%		19.1	%		23.4	%		27.7	%		31.9	%		36.2	%		40.4	%		44.7	%		48.9	%		53.2	%		61.7	%
30 Trading Day Avg. Price (a)	$	12.19
Premium to 30 Day Avg. Price				6.6	%		14.8	%		18.9	%		23.1	%		27.2	%		31.3	%		35.4	%		39.5	%		43.6	%		47.7	%		55.9	%
60 Trading Day Avg. Price (a)	$	12.61
Premium to 30 Day Avg. Price				3.1	%		11.0	%		15.0	%		19.0	%		22.9	%		26.9	%		30.8	%		34.8	%		38.8	%		42.7	%		50.7	%
90 Trading Day Avg. Price (a)	$	12.99
Premium to 30 Day Avg. Price				0.1	%		7.8	%		11.6	%		15.5	%		19.3	%		23.2	%		27.0	%		30.9	%		34.7	%		38.6	%		46.3	%
120 Trading Day Avg. Price (a)	$	13.08
Premium to 30 Day Avg. Price				-0.6	%		7.0	%		10.9	%		14.7	%		18.5	%		22.3	%		26.1	%		30.0	%		33.8	%		37.6	%		45.3	%
Enterprise Value Calculation
FD Shares Outstanding (b)				5,313			5,313			5,313			5,313			5,313			5,313			5,313			5,313			5,313			5,313			5,313
Implied Equity Value				69,074			74,388			77,044			79,701			82,358			85,014			87,671			90,328			92,985			95,641			100,955
Plus: Net Debt as of 6/30/07				7,922			7,922			7,922			7,922			7,922			7,922			7,922			7,922			7,922			7,922			7,922
Less: Assumed Cash from Option Exercise (b)				948			2,543			2,543			2,543			2,543			2,543			2,543			2,543			2,543			2,543			2,543
Implied Enterprise Value			$	76,049		$	79,766		$	82,423		$	85,080		$	87,737		$	90,393		$	93,050		$	95,707		$	98,363		$	101,020		$	106,333
			Implied Valuation Multiples
LTM Revenue		202,760		0.38 x			0.39 x			0.41 x			0.42 x			0.43 x			0.45 x			0.46 x			0.47 x			0.49 x			0.50 x			0.52 x
2007 P Revenue		212,672		0.36 x			0.38 x			0.39 x			0.40 x			0.41 x			0.43 x			0.44 x			0.45 x			0.46 x			0.48 x			0.50 x
FY2008E Revenue (c)		246,382		0.31 x			0.32 x			0.33 x			0.35 x			0.36 x			0.37 x			0.38 x			0.39 x			0.40 x			0.41 x			0.43 x
FY2009E Revenue (c)		301,248		0.25 x			0.26 x			0.27 x			0.28 x			0.29 x			0.30 x			0.31 x			0.32 x			0.33 x			0.34 x			0.35 x
LTM EBITDA		13,100		5.81 x			6.09 x			6.29 x			6.49 x			6.70 x			6.90 x			7.10 x			7.31 x			7.51 x			7.71 x			8.12 x
2007 P EBITDA		12,352		6.16 x			6.46 x			6.67 x			6.89 x			7.10 x			7.32 x			7.53 x			7.75 x			7.96 x			8.18 x			8.61 x
FY2008E EBITDA (c)		15,661		4.86 x			5.09 x			5.26 x			5.43 x			5.60 x			5.77 x			5.94 x			6.11 x			6.28 x			6.45 x			6.79 x
FY2009E EBITDA (c)		16,591		4.58 x			4.81 x			4.97 x			5.13 x			5.29 x			5.45 x			5.61 x			5.77 x			5.93 x			6.09 x			6.41 x

(a)	Based on average closing prices for the respective periods as of 10/19/07.
(b)	Assumes that all in-the-money options convert to common shares: cash from option exercise is assumed to be added to Phoenix II balance sheet.
(c)	Projections as provided by Phoenix I management.

RETURN ANALYSIS	PROJECT PHOENIX
Case: Base	Page      3

($ in thousands except as otherwise noted)

	EXIT YEAR
				12/31/2011									12/31/2012									12/31/2013
Exit Multiple		7.0x			8.0x			9.0x			7.0x			8.0x			9.0x			7.0x			8.0x			9.0x
Exit Year EBITDA	$	20,075		$	20,075		$	20,075		$	22,083		$	22,083		$	22,083		$	24,291		$	24,291		$	24,291
Exit Year Enterprise Value	$	140,525.5		$	160,600.6		$	180,675.7		$	154,578.1		$	176,660.7		$	198,743.2		$	170,035.9		$	194,326.7		$	218,617.6
Less: Net Debt	$	(42,447.9	)	$	(42,447.9	)	$	(42,447.9	)	$	(39,985	)	$	(39,985	)	$	(39,985	)	$	(36,847	)	$	(36,847	)	$	(36,847	)
Common Equity Value	$	98,077.6		$	118,152.7		$	138,227.8		$	114,592.7		$	136,675.3		$	158,757.9		$	133,188.7		$	157,479.6		$	181,770.4

	%			Initial
Equity Source/Holder	Ownership			Investment		Equity Value of Holding and Implied IRR
Management
		29.9	%	$	5,700.2	$	29,346.6		$	35,353.4		$	41,360.3		$	34,288.2		$	40,895.7		$	47,503.2		$	39,852.5		$	47,120.8		$	54,389.0
IRR							50.6	%		57.8	%		64.1	%		56.6	%		63.6	%		69.8	%		62.6	%		69.5	%		75.7	%
New Equity Sponsor
		70.1	%		32,500.2	$	68,731.0		$	82,799.3		$	96,867.5		$	80,304.5		$	95,779.6		$	111,254.6		$	93,336.2		$	110,358.8		$	127,381.4
IRR							20.6	%		26.3	%		31.4	%		25.4	%		31.0	%		36.0	%		30.2	%		35.7	%		40.7	%

NEW EQUITY SPONSOR IRR SENSITIVITY ANALYSIS	PROJECT PHOENIX
Case: Base	Page      4

($ in thousands except as otherwise noted)

PURCHASE PRICE PER SHARE

		$	14.00		$	14.50		$	15.00		$	15.50		$	16.00		$	16.50		$	17.00		$	17.50
Implied Premium			19.1	%		23.4	%		27.7	%		31.9	%		36.2	%		40.4	%		44.7	%		48.9	%
(based on Phoenix I price of $11.75  on 10/19/07)
Exit Year: 2011
Exit Multiple
	5.0 x		5.7	%		3.9	%		2.3	%		0.7	%		-0.7	%		-2.0	%		-3.3	%		-4.4	%
	6.0 x		13.9	%		11.9	%		10.1	%		8.5	%		7.0	%		5.5	%		4.2	%		2.9	%
	7.0 x		20.6	%		18.5	%		16.6	%		14.9	%		13.3	%		11.7	%		10.3	%		9.0	%
	8.0 x		26.3	%		24.2	%		22.2	%		20.4	%		18.7	%		17.1	%		15.6	%		14.2	%
	9.0 x		31.4	%		29.1	%		27.1	%		25.2	%		23.4	%		21.7	%		20.2	%		18.7	%
Exit Year: 2012
Exit Multiple
	5.0 x		11.0	%		9.1	%		7.4	%		5.8	%		4.3	%		2.9	%		1.6	%		0.3	%
	6.0 x		18.8	%		16.8	%		14.9	%		13.2	%		11.6	%		10.1	%		8.7	%		7.4	%
	7.0 x		25.4	%		23.2	%		21.3	%		19.4	%		17.8	%		16.2	%		14.7	%		13.3	%
	8.0 x		31.0	%		28.8	%		26.7	%		24.8	%		23.1	%		21.4	%		19.9	%		18.4	%
	9.0 x		36.0	%		33.7	%		31.5	%		29.6	%		27.7	%		26.0	%		24.4	%		22.9	%
Exit Year: 2013
Exit Multiple
	5.0 x		20.7	%		18.4	%		16.2	%		14.2	%		12.4	%		10.7	%		9.2	%		6.3	%
	6.0 x		28.6	%		26.1	%		23.8	%		21.7	%		19.7	%		17.9	%		16.3	%		13.2	%
	7.0 x		35.2	%		32.6	%		30.2	%		27.9	%		25.9	%		24.0	%		22.3	%		19.1	%
	8.0 x		41.0	%		38.2	%		35.7	%		33.4	%		31.3	%		29.3	%		27.5	%		24.2	%
	9.0 x		46.2	%		43.3	%		40.7	%		38.3	%		36.1	%		34.0	%		32.1	%		28.7	%

NEW EQUITY SPONSOR IRR SENSITIVITY ANALYSIS	PROJECT PHOENIX
Case: Base	Page      5

($ in thousands except as otherwise noted)

			Implied Purchase Price per Share						Implied Prem. to Current Phoenix I Price
			based on EBITDA Exit Multiple of:						based on EBITDA Exit Multiple of:
IRR	Exit Year		7.0x		8.0x		9.0x		7.0x			8.0x			9.0x
25.0%		2011	$	14.66	$	16.13	$	17.60		24.8	%		37.3	%		49.8	%
		2012	$	15.98	$	17.59	$	19.22		36.0	%		49.7	%		63.5	%
		2013	$	17.45	$	19.23	$	21.02		48.5	%		63.7	%		78.9	%
30.0%		2011	$	13.54	$	14.78	$	16.05		15.3	%		25.8	%		36.6	%
		2012	$	14.67	$	16.03	$	17.42		24.8	%		36.5	%		48.3	%
		2013	$	15.93	$	17.44	$	18.96		35.6	%		48.4	%		61.4	%
35.0%		2011	$	12.61	$	13.68	$	14.76		7.3	%		16.4	%		25.6	%
		2012	$	13.57	$	14.75	$	15.94		15.5	%		25.5	%		35.7	%
		2013	$	14.66	$	15.96	$	17.27		24.8	%		35.8	%		47.0	%

MODEL ASSUMPTIONS	PROJECT PHOENIX
Case: Base	Page      6

Pro Forma Merger Overview

	Phoenix I		Phoenix I		Phoenix I
	Stand Alone		@ 2014		@ LBO Deal
Number of Existing Common Shares Outstanding		5,130		5,130		5,130
Existing Number of Options/Warrants		319		319		319
Average Exercise Price Per Share	$	5.00	$	5.00	$	5.00
Treasury Method Adjustment		184		240		205
Existing Number of Options/Warrants		75		75		75
Average Exercise Price Per Share	$	12.60	$	12.60	$	12.60
Treasury Method Adjustment		0		28		8
Existing Number of Options/Warrants		0		0		0
Average Exercise Price Per Share	$	—	$	—	$	—
Treasury Method Adjustment		0		0		0
Existing Number of Options/Warrants		0		0		0
Average Exercise Price Per Share	$	—	$	—	$	—
Treasury Method Adjustment		0		0		0
Fully Diluted Shares		5,313		5,397		5,343
Current Market Price Per Share	$	11.75	$	20.00	$	14.00
Date of Current Market		10/19/2007		10/19/2007		10/19/2007

PRO FORMA COVERAGES	PROJECT PHOENIX
Case: Base	Page      7

($ in thousands except as otherwise noted)

	PRO FORMA COVERAGES
	Pro Forma Fiscal Year Ended						Expected			Projected
	2005			2006			2007			2008			2009			2010			2011			2012			2013			2014
EBITDA/Interest		2.5	x		3.2	x		2.8	x		3.5	x		3.7	x		4.1	x		4.6	x		5.3	x		6.1	x		7.0	x
FCF/Interest		1.3	x		1.2	x		1.7	x		2.0	x		2.1	x		2.4	x		2.7	x		3.0	x		3.5	x		4.1	x
Senior Debt/EBITDA		4.0	x		3.1	x		3.5	x		3.3	x		2.6	x		1.9	x		1.4	x		0.9	x		0.8	x		0.0	x
Senior Debt/FCF (a)		7.4	x		8.4	x		5.8	x		5.3	x		4.8	x		4.2	x		3.7	x		3.1	x		2.6	x		3.4	x
Total Debt/EBITDA		5.8	x		4.5	x		5.2	x		4.2	x		4.0	x		3.5	x		3.1	x		2.7	x		2.3	x		2.0	x
Total Debt/FCF (a)		10.8	x		12.2	x		8.4	x		7.6	x		6.8	x		6.1	x		5.4	x		4.7	x		4.0	x		3.4	x
Proforma Net Debt/EBITDA		3.9	x		3.1	x		3.5	x		2.9	x		2.8	x		2.4	x		2.1	x		1.8	x		1.5	x		1.2	x
Proforma Net Debt/FCF (a)		7.4	x		8.3	x		5.7	x		5.3	x		4.8	x		4.2	x		3.7	x		3.1	x		2.6	x		2.1	x
FCF/Total Debt Service (a)		0.5	x		0.4	x		0.6	x		0.7	x		0.8	x		0.9	x		1.0	x		1.1	x		3.7	x		0.8	x
							At Close
Excess Availability								18,354			20,584			27,608			32,952			39,124			46,220			54,347			43,598

(a) FCF represents EBITDA less maintenance capital expenditures.

FINANCIAL SUMMARY	PROJECT PHOENIX
Case: Base	Page      8

($ in thousands except as otherwise noted)

	Pro Forma FY Ended						Expected											Projected
	2005			2006			2007			2008			2009			2010			2011			2012			2013			2014
Revenues	$	183,873		$	195,522		$	212,672		$	246,382		$	301,248		$	331,373		$	364,510		$	400,961		$	441,057		$	485,163
Revenue Growth	NM			NM			NM				15.9	%		22.3	%		10.0	%		10.0	%		10.0	%		10.0	%		10.0	%
EBITDA	$	11,020		$	14,034		$	12,352		$	15,661		$	16,591		$	18,250		$	20,075		$	22,083		$	24,291		$	26,720
EBITDA Margin		6.0	%		7.2	%		5.8	%		6.4	%		5.5	%		5.5	%		5.5	%		5.5	%		5.5	%		5.5	%
EBIT	$	6,521		$	8,148		$	8,223		$	10,118		$	10,348		$	11,237		$	12,215		$	13,291		$	14,474		$	15,776
EBIT Margin		3.5	%		4.2	%		3.9	%		4.1	%		3.4	%		3.4	%		3.4	%		3.3	%		3.3	%		3.3	%
FCF (a)	$	5,890		$	5,217		$	7,552		$	8,661		$	9,591		$	10,550		$	11,605		$	12,766		$	14,042		$	15,446
FCF Growth	NM				-11.4	%		44.7	%		14.7	%		10.7	%		10.0	%		10.0	%		10.0	%		10.0	%		10.0	%
Net Income	$	4,204		$	4,166		$	5,558		$	3,417		$	3,487		$	4,053		$	4,714		$	5,456		$	6,285		$	7,188
Net Income %		2.3	%		2.1	%		2.6	%		1.4	%		1.2	%		1.2	%		1.3	%		1.4	%		1.4	%		1.5	%
Fully Diluted EPS	$	1.01		$	0.90		$	1.05		$	0.64		$	0.65		$	0.75		$	0.87		$	1.01		$	1.16		$	1.33
Maintenance Capital Expenditures	$	5,130		$	8,816		$	4,800		$	7,000		$	7,000		$	7,700		$	8,470		$	9,317		$	10,249		$	11,274
Expansionary Capital Expenditures		0			0			0			0			0			0			0			0			0			0
Total Capital Expenditures	$	5,130		$	8,816		$	4,800		$	7,000		$	7,000		$	7,700		$	8,470		$	9,317		$	10,249		$	11,274
Net Interest Expense										$	4,423		$	4,536		$	4,482		$	4,358		$	4,198		$	3,999		$	3,795

(a) Free Cash Flow equals consolidated EBITDA less consolidated maintenance capital expenditures.

FINANCING ASSUMPTIONS	PROJECT PHOENIX
Case: Base	Page      9

	Projected
Financing Assumptions:	At Close			2008			2009			2010			2011			2012			2013			2014
Revolver		6.50	%		6.50	%		6.50	%		6.50	%		6.50	%		6.50	%		6.50	%		6.50	%
Senior Debt		7.00	%		7.00	%		7.00	%		7.00	%		7.00	%		7.00	%		7.00	%		7.00	%
Subordinated Debt		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%
Bridge Loan		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%		10.00	%
Notes Payable		8.00	%		8.00	%		8.00	%		8.00	%		8.00	%		8.00	%		8.00	%		8.00	%
Tax Rates:
Assumed Blended Rate		40.00	%		40.00	%		40.00	%		40.00	%		40.00	%		40.00	%		40.00	%		40.00	%
Earned on Cash Balances		3.00	%		3.00	%		3.00	%		3.00	%		3.00	%		3.00	%		3.00	%		3.00	%

	Projected
Working Capital Analysis (a):	At Close			2008			2009			2010			2011			2012			2013			2014
Days Receivable		57.76			57.76			57.76			57.76			57.76			57.76			57.76			57.76
Accounts Receivable/Revenue		15.82	%		15.82	%		15.82	%		15.82	%		15.82	%		15.82	%		15.82	%		15.82	%
Inventories/COS		0.66	%		0.66	%		0.66	%		0.66	%		0.66	%		0.66	%		0.66	%		0.66	%
Other Current Assets/Revenue		1.33	%		0.50	%		0.50	%		0.50	%		0.50	%		0.50	%		0.50	%		0.50	%
Other Assets/Revenue		0.00	%		0.30	%		0.30	%		0.30	%		0.30	%		0.30	%		0.30	%		0.30	%
Days Payable		36.78			34.84			34.84			34.84			34.84			34.84			34.84			34.84
Accounts Payable/COS		10.08	%		9.55	%		9.55	%		9.55	%		9.55	%		9.55	%		9.55	%		9.55	%
Accrued Liabilities/Total Operating Expense		45.01	%		45.00	%		45.00	%		45.00	%		45.00	%		45.00	%		45.00	%		45.00	%
Other Accrued Expenses/Total Operating Expense		156.63	%		162.37	%		153.30	%		139.36	%		126.69	%		115.18	%		104.71	%		95.19	%

(a) Working capital assumptions are based on management estimates.

INCOME STATEMENTS	PROJECT PHOENIX
Case: Base	Page          10

($ in thousands except as otherwise noted)

	Pro Forma FY Ended				Expected		Projected
	2005		2006		2007		2008			2009			2010			2011			2012			2013			2014
Net Sales		183,873		195,522		212,672		246,382			301,248			331,373			364,510			400,961			441,057			485,163
Direct costs		164,186		170,326		188,399		219,221			272,477			299,725			329,697			362,667			398,934			438,827
Gross Profit		19,687		25,196		24,273		27,161			28,771			31,648			34,813			38,294			42,124			46,336
Total Operating Expenses (d)		8,667		11,162		11,921		11,500			12,180			13,398			14,738			16,212			17,833			19,616
EBITDA (a)		11,020		14,034		12,352		15,661			16,591			18,250			20,075			22,083			24,291			26,720
Depreciation and Amortization		4,499		5,885		4,129		5,543			6,243			7,013			7,860			8,792			9,817			10,944
EBIT		6,521		8,148		8,223		10,118			10,348			11,237			12,215			13,291			14,474			15,776
Interest Expense: (b)
Revolver (c)								325			967			1,456			1,873			2,256			2,599			2,395
Senior Debt								2,711			2,169			1,627			1,084			542			0			0
Subordinated Debt								2,000			2,000			2,000			2,000			2,000			2,000			2,000
Preferred Equity								0			0			0			0			0			0			0
Seller Note Payable								0			0			0			0			0			0			0
Interest Income								(613	)		(600	)		(600	)		(600	)		(600	)		(600	)		(600	)
Total Interest Expense								4,423			4,536			4,482			4,358			4,198			3,999			3,795
Pretax Income								5,694			5,811			6,754			7,857			9,093			10,475			11,981
Income Taxes								2,278			2,325			2,702			3,143			3,637			4,190			4,792
Net Income								3,417			3,487			4,053			4,714			5,456			6,285			7,188
Number of Shares Outstanding								5,343			5,343			5,397			5,397			5,397			5,397			5,397
Fully Diluted EPS							$	0.64		$	0.65		$	0.75		$	0.87		$	1.01		$	1.16		$	1.33
Operating Margins:
EBITDA Margin		—		—		—		6.4	%		5.5	%		5.5	%		5.5	%		5.5	%		5.5	%		5.5	%
EBIT Margin		—		—		—		4.1	%		3.4	%		3.4	%		3.4	%		3.3	%		3.3	%		3.3	%
NI Margin		—		—		—		1.4	%		1.2	%		1.2	%		1.3	%		1.4	%		1.4	%		1.5	%

(a)	Excludes non-cash items.
(b)	Interest expense is calculated from the previous years’ debt balance.
(c)	Interest expense on the revolver is calculated on the previous years principal balance.

CASH FLOW ANALYSIS AND CAPITALIZATION TABLE	PROJECT PHOENIX
Case: Base	Page      11

($ in thousands except as otherwise noted)

	Projected
	2008			2009			2010			2011			2012			2013		2014
EBITDA	$	15,661		$	16,591		$	18,250		$	20,075		$	22,083		$	24,291	$	26,720
LESS:
Interest Expense		4,423			4,536			4,482			4,358			4,198			3,999		3,795
Income Tax		2,278			2,325			2,702			3,143			3,637			4,190		4,792
Preferred Dividends		0			0			0			0			0			0		0
Add: Non-Cash Interest Expense		0			0			0			0			0			0		0
Maintenance Capital Expenditures		7,000			7,000			7,700			8,470			9,317			10,249		11,274
Expansionary Capital Expenditures		0			0			0			0			0			0		0
Total Capital Expenditures		7,000			7,000			7,700			8,470			9,317			10,249		11,274
Changes in Other Assets		739			165			90			99			109			120		132
Changes in Other Liabilities		0			0			0			0			0			0		0
Increases (Decreases) in Working Capital		3,789			2,332			1,949			2,144			2,359			2,595		2,854
Cash Flow Available for Debt Amortization		(2,569	)		233			1,326			1,861			2,463			3,138		3,873
Scheduled Amortization:
Senior Debt		7,746			7,746			7,746			7,746			7,746			0		0
Subordinated Debt		0			0			0			0			0			0		20,000
Bridge Loan		0			0			0			0			0			0		0
Notes Payable		0			0			0			0			0			0		0
Total Scheduled Amortization		7,746			7,746			7,746			7,746			7,746			0		20,000
Increase (Decrease) in Cash		(10,315	)		(7,513	)		(6,420	)		(5,885	)		(5,284	)		3,138		(16,127	)
Drawdown of Revolver		9,884			7,513			6,420			5,885			5,284			0		16,127
Paydown of Revolver		0			0			0			0			0			3,138		0
Net Increase (Decrease) in Cash		(431	)		0			(0	)		0			0			0		0

	At		Projected
	Closing		2008		2009		2010		2011		2012		2013		2014
Capitalization Table:
Revolver	$	5,000	$	14,884	$	22,397	$	28,817	$	34,702	$	39,985	$	36,847	$	52,975
Notes Payable		0		0		0		0		0		0		0		0
Senior Debt		38,730		30,984		23,238		15,492		7,746		0		0		0
Subordinated Debt		20,000		20,000		20,000		20,000		20,000		20,000		20,000		0
Seller note		0		0		0		0		0		0		0		0
Total Debt		63,730		65,868		65,635		64,309		62,448		59,985		56,847		52,975
Preferred Equity		0		0		0		0		0		0		0		0
Common Equity		32,500		35,917		39,404		43,456		48,171		53,626		59,911		67,100
Stockholders’ Equity		32,500		35,917		39,404		43,456		48,171		53,626		59,911		67,100
Total Capitalization	$	96,231	$	101,785	$	105,039	$	107,765	$	110,619	$	113,612	$	116,758	$	120,074
Cash Balances	$	20,431	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000

BALANCE SHEETS	PROJECT PHOENIX
Case: Base	Page      12

($ in thousands except as otherwise noted)

			June 30, 2007
	Unaudited		Financing Adjustments					At		Projected
	2007		Debit		Credit			Closing		2008		2009		2010		2011		2012		2013		2014
ASSETS
Cash and Marketable Securities	$	25,816	$	82,500		($87,885	)	$	20,431	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000
Accounts Receivable		33,652		0		0			33,652		38,986		47,668		52,434		57,678		63,446		69,790		76,769
Inventories		1,251		0		0			1,251		1,456		1,809		1,990		2,189		2,408		2,649		2,914
Other Current and Intercompany		2,820		0		0			2,820		2,820		1,506		1,657		1,823		2,005		2,205		2,426
Total Current Assets		63,539		82,500		(87,885	)		58,154		63,262		70,983		76,082		81,690		87,859		94,645		102,109
PP&E , net		36,493		0		0			36,493		43,493		50,493		58,193		66,663		75,980		86,229		97,503
Less Accumulated Depreciation		0		0		0			0		4,829		10,359		16,658		23,804		31,882		40,985		51,216
Net PP&E		36,493		0		0			36,493		38,664		40,135		41,535		42,859		44,098		45,244		46,287
Goodwill, net		0		40,260		0			40,260		40,260		40,260		40,260		40,260		40,260		40,260		40,260
Refundable Deposits		884		0		0			884		862		840		818		796		774		752		729
Claims Receivable		2,464		0		0			2,464		2,341		2,217		2,094		1,971		1,848		1,725		1,602
Note Receivable - less current portion		481		0		0			481		412		343		275		206		137		69		0
Capitalized Transaction Costs		0		3,500		0			3,500		3,000		2,500		2,000		1,500		1,000		500		0
Other Assets		0		0		0			0		739		904		994		1,094		1,203		1,323		1,455
Total Assets	$	103,861	$	126,261		($87,885	)	$	142,236	$	149,540	$	158,183	$	164,058	$	170,375	$	177,179	$	184,517	$	192,443
LIABILITIES AND SHAREHOLDERS’ EQUITY
Revolver		0		5,000		0			5,000		14,884		22,397		28,817		34,702		39,985		36,847		52,975
Accounts Payable		18,985		0		0			18,985		20,925		26,009		28,609		31,470		34,617		38,079		41,887
Accrued Liabilities		5,365		0		0			5,365		5,175		5,481		6,029		6,632		7,295		8,025		8,827
Other Current Liabilities		18,672		0		0			18,672		18,672		18,672		18,672		18,672		18,672		18,672		18,672
Total Current Liabilities		43,023		5,000		0			48,023		59,656		72,558		82,127		91,476		100,570		101,623		122,361
Total Debt:
Other		0		0		0			0		0		0		0		0		0		0		0
Senior Debt		13,730		25,000		0			38,730		30,984		23,238		15,492		7,746		0		0		0
Subordinated Debt		0		20,000		0			20,000		20,000		20,000		20,000		20,000		20,000		20,000		0
Obligations under capital leases		8		0		0			8		8		8		8		8		8		8		8
Note Payable and Accrued Interest		0		0		0			0		0		0		0		0		0		0		0
Seller Note		0		0		0			0		0		0		0		0		0		0		0
Total Long-Term Debt		13,738		45,000		0			58,738		50,992		43,246		35,500		27,754		20,008		20,008		8
Other Liabilities		2,975		0		0			2,975		2,975		2,975		2,975		2,975		2,975		2,975		2,975
Total Liabilities		59,736		50,000		0			109,736		113,623		118,779		120,602		122,205		123,553		124,606		125,343
Shareholders’ Equity:
Preferred Stock		0		0		0			0		0		0		0		0		0		0		0
Investments in Subsidiaries (a)		12,571		0		(12,571	)		0		0		0		0		0		0		0		0
Common Stock + APIC		19,230		32,500		(19,230	)		32,500		32,500		32,500		32,500		32,500		32,500		32,500		32,500
Treasury Stock		0		0		0			0		0		0		0		0		0		0		0
Retained Earnings / (Loss)		12,324		0		(12,324	)		0		3,417		6,903		10,956		15,670		21,126		27,411		34,599
Total Shareholders’ Equity		44,125		32,500		(44,125	)		32,500		35,917		39,404		43,456		48,171		53,626		59,911		67,100
Total Lia. & SH Equity	$	103,861	$	82,500		($44,125	)	$	142,236	$	149,540	$	158,183	$	164,058	$	170,375	$	177,179	$	184,517	$	192,443

(a) Investments in subsidiaries goes to zero after deal closes, as Phoenix II becomes part of Phoenix I

DEBT CAPACITY	PROJECT PHOENIX
Case: Base	Page      13

($ in thousands except as otherwise noted)

							@ Closing			Projected
	Eligible			Advance			Proforma			2008			2009			2010			2011			2012			2013			2014
Effective Accounts Receivable Advance Rate		90	%		75	%		67.5	%		67.5	%		67.5	%		67.5	%		67.5	%		67.5	%		67.5	%		67.5	%
Effective Inventory Advance Rate		85	%		65	%		55.3	%		55.3	%		55.3	%		55.3	%		55.3	%		55.3	%		55.3	%		55.3	%
Accounts Receivable								33,652			38,986			47,668			52,434			57,678			63,446			69,790			76,769
Inventory								1,251			1,456			1,809			1,990			2,189			2,408			2,649			2,914
Advance Against Accounts Receivable								22,715			26,316			32,176			35,393			38,933			42,826			47,108			51,819
Advance Against Inventories								691			804			1,000			1,100			1,210			1,331			1,464			1,610
Total Revolver Advance								23,406			27,120			33,175			36,493			40,142			44,156			48,572			53,429
Outstanding Revolver Balance								5,000			14,884			22,397			28,817			34,702			39,985			36,847			52,975
Total Net PP&E (BV)								36,493			38,664			40,135			41,535			42,859			44,098			45,244			46,287
Effective Advance Rate on Net PP&E		100	%		50	%		50	%		50	%		50	%		50	%		50	%		50	%		50	%		50	%
Borrowing Base on Net PP&E								18,247			19,332			20,067			20,768			21,430			22,049			22,622			23,144
Senior Term Debt								0			0			0			0			0			0			0			0
Excess/(Shortfall) on Fixed Assets								18,247			19,332			20,067			20,768			21,430			22,049			22,622			23,144
Total Borrowing Availability								41,653			46,452			53,243			57,261			61,572			66,205			71,194			76,573
Total Senior Outstandings (Net Cash)								23,299			25,868			25,635			24,309			22,448			19,985			16,847			32,975
Excess Availability								18,354			20,584			27,608			32,952			39,124			46,220			54,347			43,598

DEBT SCHEDULE
Case: Base PROJECT PHOENIX
Page      14

($ in thousands except as otherwise noted)
				At		Projected
				Closing		2008		2009		2010		2011		2012		2013		2014
Revolver
Beginning Balance						$	5,000	$	14,884	$	22,397	$	28,817	$	34,702	$	39,985	$	36,847
Interest Expense		6.5	%				325		967		1,456		1,873		2,256		2,599		2,395
Additions							9,884		7,513		6,420		5,885		5,284		—		16,127
Reductions							—		—		—		—		—		3,138		—
Ending Balance					5,000		14,884		22,397		28,817		34,702		39,985		36,847		52,975
Senior Debt
Beginning Balance						$	38,730	$	30,984	$	23,238	$	15,492	$	7,746	$	—	$	—
Interest Expense		7.0	%				2,711		2,169		1,627		1,084		542		—		—
Amortization	5 Years						7,746		7,746		7,746		7,746		7,746
Ending Balance					38,730		30,984		23,238		15,492		7,746		—		—		—
Subordinated Debt
Beginning Balance						$	20,000	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000	$	20,000
Interest Expense		10.0	%				2,000		2,000		2,000		2,000		2,000		2,000		2,000
Amortization							—		—		—		—		—		—		20,000
Ending Balance					20,000		20,000		20,000		20,000		20,000		20,000		20,000		—
Present Value of Note		—					—		—		—		—		—
Discount Rate of Note		10.0	%
Income Taxes		40.0	%				2,278		2,325		2,702		3,143		3,637		4,190		4,792
NOL							—		—		—		—		—		—		—
Net Income Taxes							2,278		2,325		2,702		3,143		3,637		4,190		4,792
NOL
Beginning Balance						$	—	$	—	$	—	$	—	$	—	$	—	$	—
Additions							—		—		—		—		—		—		—
Reductions							—		—		—		—		—		—		—
Ending Balance					—		—		—		—		—		—		—		—

PRO FORMA AND OPERATING ASSUMPTIONS Case: Base	PROJECT PHOENIX Page      16
($ in thousands except as otherwise notes)

	Pro Forma FY Ended				Expected		Projected
Pro Forma Consolidated Operations	2005		2006		2007		2008		2009		2010		2011		2012		2013		2014
Net Sales
Internal Growth		183,873		195,522		212,672		246,382		301,248		331,373		364,510		400,961		441,057		485,163
External Growth
Total Net Sales		183,873		195,522		212,672		246,382		301,248		331,373		364,510		400,961		441,057		485,163
Direct Costs
Internal Growth		164,186		170,326		188,399		219,221		272,477		299,725		329,697		362,667		398,934		438,827
Total Direct Costs		164,186		170,326		188,399		219,221		272,477		299,725		329,697		362,667		398,934		438,827
Gross Profit		19,687		25,196		24,273		27,161		28,771		31,648		34,813		38,294		42,124		46,336
SG&A		8,667		11,162		11,921		11,500		12,180		13,398		14,738		16,212		17,833		19,616
EBITDA (c )		11,020		14,034		12,352		15,661		16,591		18,250		20,075		22,083		24,291		26,720
Depreciation & Amortization (a)		4,499		5,885		4,129		5,543		6,243		7,013		7,860		8,792		9,817		10,944
EBIT		6,521		8,148		8,223		10,118		10,348		11,237		12,215		13,291		14,474		15,776

	Pro Forma FY Ended									Projected
Operating Assumptions	2005			2006			2007			2008			2009			2010			2011			2012			2013			2014
Net Sales Growth	NM				6.3	%		8.8	%		15.9	%		22.3	%		10.0	%		10.0	%		10.0	%		10.0	%		10.0	%
Cost of Sales %		89.3	%		87.1	%		88.6	%		89.0	%		90.4	%		90.4	%		90.4	%		90.4	%		90.4	%		90.4	%
Gross Margin		10.7	%		12.9	%		11.4	%		11.0	%		9.6	%		9.6	%		9.6	%		9.6	%		9.6	%		9.6	%
Variable SG&A %		4.7	%		5.7	%		5.6	%		4.7	%		4.0	%		4.0	%		4.0	%		4.0	%		4.0	%		4.0	%
Total SG&A %		4.7	%		5.7	%		5.6	%		4.7	%		4.0	%		4.0	%		4.0	%		4.0	%		4.0	%		4.0	%
EBITDA %		6.0	%		7.2	%		5.8	%		6.4	%		5.5	%		5.5	%		5.5	%		5.5	%		5.5	%		5.5	%
Maintenance Capex
Maint. Capex (% of revenues)		2.79	%		4.51	%		2.26	%		2.84	%		2.32	%		2.32	%		2.32	%		2.32	%		2.32	%		2.32	%
Capital Requirement		5,130			8,816			4,800			7,000			7,000			7,700			8,470			9,317			10,249			11,274
Expansionary Capex
Expansionary Capex (% of revenues)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
Expansionary Capex		0			0			0			0			0			0			0			0			0			0

(a) Deprecition in 2007 is set equal to 2006

DEPRECIATION AND AMORTIZATION SCHEDULES	PROJECT PHOENIX
Case: Base	Page      17
($ in thousands except as otherwise noted)

DEPRECIATION ON PP&E AT CLOSING
	PP&E @		Depreciable		Projected
	Close		Life		2007		2008		2009		2010		2011		2012		2013		2014
Total		36,493		10.0	$	3,649		3,649		3,649		3,649		3,649		3,649		3,649		3,649

DEPRECIATION ON CAPITAL EXPENDITURES
	Capital		Depreciable		Projected
	Expenditure		Life		2007		2008		2009		2010		2011		2012		2013		2014
		4,800		10.0	$	480		480		480		480		480		480		480		480
		7,000		10.0				700		700		700		700		700		700		700
		7,000		10.0						700		700		700		700		700		700
		7,700		10.0								770		770		770		770		770
		8,470		10.0										847		847		847		847
		9,317		10.0												932		932		932
		10,249		10.0														1,025		1,025
		11,274		10.0																1,127
						480		1,180		1,880		2,650		3,497		4,429		5,454		6,581
					$	4,129	$	4,829	$	5,529	$	6,299	$	7,146	$	8,078	$	9,103	$	10,230

AMORTIZATION SCHEDULE
			Amortization		Projected
	Amount		Period		2008		2009		2010		2011		2012		2013		2014
Transaction Fee Amortization	$	3,500		7.0	$	500	$	500	$	500	$	500	$	500	$	500	$	500
Goodwill Amortization		40,260		0.0	$	0	$	0	$	0	$	0	$	0	$	0	$	0
Refundable Deposits Amortization		884		40.0	$	22		22		22		22		22		22		22
Donor Base and Records Amortization		2,464		20.0	$	123		123		123		123		123		123		123
Deferred Bond Amortization		481		7.0	$	69		69		69		69		69		69		69
Total Amortization					$	714	$	714	$	714	$	714	$	714	$	714	$	714

TOTAL DEPRECIATION & AMORTIZATION
	Projected
	2008		2009		2010		2011		2012		2013		2014
Total Depreciation & Amortization	$	5,543	$	6,243	$	7,013	$	7,860	$	8,792	$	9,817	$	10,944