Business Summary

Tivoli designs, develops, manufactures, markets and distributes specialty lighting and related products worldwide, and also customizes products for larger customers. For the six months ended 3/31/99, net sales rose 8% to $5.5 million. Net income rose from $152 thousand to $340 thousand. Revenues reflect the successful introduction of new products and increased market penetration. Earnings also reflect higher margins due to increased efficiency and favorable changes in sales the mix.