SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q

(Mark One)

			[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
			OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended April 30, 2000

OR

			[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
			OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission File Number 0-20842

PLATO LEARNING, INC.
(Exact name of Registrant as specified in its charter)

Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)

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 [ ]

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

(This document contains 20 pages)

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Table of Contents

PLATO Learning, Inc. and Subsidiaries

INDEX

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PART I. FINANCIAL INFORMATION
PLATO LEARNING, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited, in thousands, except per share data)

See Notes to Consolidated Financial Statements

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PLATO LEARNING, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands, except share and per share data)

See Notes to Consolidated Financial Statements

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PLATO LEARNING, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)

See Notes to Consolidated Financial Statements

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PLATO LEARNING, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business:

PLATO Learning, Inc. and its subsidiaries (the “Company”) develop and market computer-based, interactive, self-paced instructional systems and related services. Offering more than 2,000 hours and 10,000 learning objectives of comprehensive academic and applied skills courseware designed for adolescents and adults, the Company’s PLATO® Learning Systems are marketed to middle and high schools, colleges, job training programs, correctional institutions, military education programs, corporations and consumers. PLATO is delivered via networks, CD-ROM, the Internet, and private intranets. In addition, single topic PLATO courseware is available through the Company’s e-commerce Web site.

On March 30, 2000, the Company’s stockholders approved a change in the Company’s name from TRO Learning, Inc. to PLATO Learning, Inc.

Basis of Presentation:

The accompanying unaudited consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. Accordingly, these financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Form 10-K for the fiscal year ended October 31, 1999.

The financial information furnished reflects, in the opinion of the Company, all adjustments of a normal, recurring nature necessary for a fair statement of the results for the interim periods presented. Because of cyclical and other factors, the results for the interim periods presented are not necessarily indicative of the results to be expected for the full fiscal year.

Revenue Recognition:

Revenue from the sale of courseware licenses, computer hardware and related services is recognized upon meeting the following criteria: (i) execution of a written customer order, (ii) delivery of the courseware, hardware and related services, (iii) the license fee is fixed and determinable, and (iv) collectibility of the proceeds is probable. For software arrangements that include more than one element, the Company allocates the total arrangement fee among each deliverable based on the relative fair value of each deliverable determined on vendor-specific objective evidence. Upon delivery, future service costs, if any, are accrued. Future service costs represent the Company’s problem resolution and support “hotline” service for a one-year period. Service revenue includes software support, which is deferred and recognized ratably over the support period, and revenue from installation and training services, which is recognized as

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PLATO LEARNING, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued

Revenue Recognition, Continued:

services are performed. Installation and training services are customarily billed at a fixed daily rate. Deferred revenue represents the portion of billings made or payments received in advance of services being performed or products being delivered.

Product Development, Enhancement, and Maintenance Costs:

Costs incurred in the development, enhancement and routine maintenance of the Company’s current generation courseware products are expensed as incurred. Costs incurred in establishing the technological feasibility of new courseware products are expensed as incurred. Once technological feasibility has been established, costs incurred in the development of new generation courseware products are capitalized.

Capitalized costs are amortized using the straight-line method over the estimated useful life of the new courseware products, which is generally three years. Amortization begins when the product is available for general release to customers. Unamortized costs determined to be in excess of the net realizable value of the product, if any, are expensed at the date of such determination.

Earnings Per Share:

Basic earnings per share is calculated based only upon the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated based upon the weighted average number of common and, where dilutive, potential common shares outstanding during the period. Potential common shares include options, warrants and convertible securities.

2.

ACCOUNTS RECEIVABLE

Accounts receivable include installment receivables of $10,481,000 and $11,806,000 at April 30, 2000 and October 31, 1999, respectively. Installment receivables to be billed beyond one year from the balance sheet date were $596,000 and $978,000 at April 30, 2000 and October 31, 1999, respectively, and are included in other assets on the consolidated balance sheets.

3.

DEBT

Revolving Loan:

At April 30, 2000, borrowings of $5,941,000 were outstanding under the Company’s revolving loan agreement at a weighted-average interest rate of 9.1% and the unused borrowing capacity was $6,486,000.

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PLATO LEARNING, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

3.

DEBT, Continued

Long-Term Debt:

During the quarter ended April 30, 2000, $300,000 of the Company’s 10% subordinated convertible debentures were converted by the holders into approximately 33,000 shares of the Company’s common stock at $9.01 per share. Pursuant to the terms of the debentures, the conversion price was adjusted from $9.60 per share to $9.01 per share prior to the conversions.

4.

CONVERTIBLE REDEEMABLE PREFERRED STOCK

In January 1999, the Company issued 540 shares of its Series C Convertible Redeemable Preferred Stock (the “Series C Preferred”) and warrants to purchase 125,000 shares of the Company’s common stock at $9.51 per share for an aggregate purchase price of $5 million.

Additionally, in July 1999, the Company issued warrants to purchase approximately 63,000 shares of the Company’s common stock at $8.72 per share related to the issuance of the Series C Preferred. The Company received proceeds of $5,000,000 and paid offering costs of $501,000, resulting in net proceeds of $4,499,000for the Series C Preferred and warrants. The warrants were assigned a value of $541,000 resulting in an increase to paid in capital and a reduction to the carrying value of the Series C Preferred.

Each share of the Series C Preferred had a par value of $0.01 and a stated value of $10,000. The Series C Preferred ranked senior to the Company’s common stock, had no voting rights, and was not entitled to any dividends.

The Series C Preferred, as amended, was convertible after 90 days into shares of the Company’s common stock, at the option of the holder, and may have been converted up to ten years from the issue date. Conversion was mandatory for all such securities still outstanding on January 13, 2009.

The conversion price of the Series C Preferred was equal to the lower of (a) $9.51 per share or (b) the applicable percentage of the average of the three lowest closing prices of the Company’s common stock during the 30 trading days immediately prior to the date of conversion. The applicable percentage was to decrease over time from 90% (after 90 days) to 82% (after 631 days from issuance). The aggregate maximum number of shares of the Company’s common stock that could have been issued for all conversions was 1,151,525.

The conversion terms of the Series C Preferred included a beneficial conversion feature at the issue date. The most beneficial conversion price was determined to be 82% of the average of the three lowest closing prices of the Company’s common stock during the 30 trading days prior to the issue date. As of the issue date, the Company allocated approximately $826,000 to the beneficial conversion feature resulting in an increase to paid in capital and a reduction to the carrying value of the Series C Preferred. The beneficial conversion feature was to be recognized

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PLATO LEARNING, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

4.

CONVERTIBLE REDEEMABLE PREFERRED STOCK, Continued

as a deemed dividend to the preferred stockholders over the 631 day period from the issue date to the date of the most beneficial conversion percentage using the greater of the effective interest method or the amount the holder can realize at each reporting date. Amortization of the beneficial conversion feature was $0 and $129,000 for the three and six months ended April 30, 2000. Amortization of the beneficial conversion feature was $670,000 for the three and six months ended April 30, 1999.

The Company was permitted to redeem the Series C Preferred in cash at any time, provided the average closing price of the Company’s common stock during the defined period prior to such redemption was greater than $15.85 per share. The redemption price was equal to the applicable percentage of the average closing price of the Company’s common stock during the defined period prior to redemption. The applicable percentage was to be adjusted over time from 125% to 156%.

The Series C Preferred, and shares of the Company’s common stock obtained through conversions of the Series C Preferred and currently held by the holder, were subject to redemption in cash, at the option of the holder, upon certain events, as defined, including a change in control of the Company and a trading suspension of the Company’s common stock on NASDAQ or another market. The redemption price was equal to the greater of (a) 115% of the stated value or (b) the number of common shares that would be received upon conversion at such time multiplied by the closing price of the Company’s common stock prior to redemption, as defined. As these events are outside of the Company’s control and redemption would be in cash, the Series C Preferred, and shares of the Company’s common stock obtained through conversions of the Series C Preferred and currently held by the holder, were presented between total liabilities and stockholders’ equity on the consolidated balance sheets, as required by the Securities and Exchange Commission.

During the quarter ended January 31, 2000, approximately five shares of the Series C Preferred were converted by the holders into approximately 11,000 shares of the Company’s common stock. The carrying value of the converted Series C Preferred was approximately $37,000 and this amount was transferred to redeemable common stock on the consolidated balance sheets.

During the quarter ended April 30, 2000, the remaining 280 shares of the Series C Preferred were converted by the holders into approximately 560,000 shares of the Company’s common stock. The carrying value of the converted Series C Preferred was approximately $2,098,000 and this amount was transferred to redeemable common stock on the consolidated balance sheets.

Since all of the Series C Preferred has been converted, shares of the Company’s common stock obtained through conversions (approximately 1,061,000 shares) are no longer subject to redemption in cash at the option of the holder upon certain events. Accordingly, the carrying value of these common shares (approximately $3,928,000) has been transferred to stockholders’ equity on the consolidated balance sheets at April 30, 2000.

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PLATO LEARNING, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

5.

EARNINGS PER SHARE

Earnings per share is calculated as follows (in thousands, except per share data):

For the three months ended April 30, 2000, potential common shares from the convertible debentures are antidilutive and excluded from the calculation of diluted earnings per share.

For the six months ended April 30, 2000 and the three and six months ended April 30, 1999, the Company incurred a net loss, and all potential common shares are antidilutive and excluded from the calculation of diluted earnings per share. Basic and diluted earnings per share are the same for these periods.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

OVERVIEW

The Company is a leading developer and marketer of computer-based, interactive, self-paced instructional systems and related services. Offering more than 2,000 hours and 10,000 learning objectives of comprehensive academic and applied skills courseware designed for adolescents and adults, the Company’s PLATO® Learning Systems are marketed to middle and high schools, colleges, job training programs, correctional institutions, military education programs, corporations and consumers. PLATO is delivered via networks, CD-ROM, the Internet and private intranets. In addition, single topic PLATO courseware is available through the Company’s e-commerce Web site.

RESULTS OF OPERATIONS

Second Quarter Fiscal 2000 Compared to Second Quarter Fiscal 1999

The following table presents income statement amounts as a percentage of revenue:

Revenues:

The following table highlights revenues by product line (in 000’s):

Courseware and professional services revenue, the driver of the Company’s operations, increased $2,434,000 or 28% as compared to 1999. The Company continues to experience increased acceptance of its products and services in its various markets. This revenue growth was achieved

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS, Continued

Second Quarter Fiscal 2000 Compared to Second Quarter Fiscal 1999, Continued

Revenues, Continued

primarily through increased sales volume to both new and existing customers, as well as an adjustment for the recognition of certain deferred revenue to reflect the performance of the related services. Low margin revenues, including hardware, third-party courseware and other services increased $261,000. Total revenues were $12,240,000, an increase of $2,695,000 from 1999.

Gross Profit:

Gross profit for 2000 increased $2,488,000 or 31% to $10,631,000 as compared to $8,143,000 for 1999. This increase was due to the increase in courseware and professional services revenue. Gross margin was 87% for 2000 as compared to 85% for 1999.

Selling, General, and Administrative Expense:

Selling, general, and administrative expense for 2000 increased $1,919,000 or 30% to $8,216,000 as compared to $6,297,000 for 1999. Sales and marketing expenses increased $1,075,000 and general and administrative expenses increased $142,000 due primarily to the planned infrastructure expansion of the sales and marketing organization. The remaining increase was principally due to increased commissions resulting primarily from the growth in revenue. As a percentage of revenue, total selling, general and administrative expense increased from 66% in 1999 to 67% in 2000.

Product Development and Customer Support:

Product development and customer support expense for 2000 increased $158,000 or 11% to $1,542,000 as compared to $1,384,000 for 1999. Product development expense was comparable to 1999, with increased spending being offset by decreased amortization of previously capitalized costs. Customer support expense increased $170,000 as a result of the Company’s expanding customer base. As a percentage of revenue, total product development and customer support expense decreased from 15% in 1999 to 13% in 2000.

Operating Income:

Operating income for 2000 was $873,000 as compared to $462,000 for 1999. This improvement in operating results is due principally to the increase in courseware and professional services revenue, offset by the increased selling, general and administrative, and customer support expenses in 2000.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS, Continued

Second Quarter Fiscal 2000 Compared to Second Quarter Fiscal 1999, Continued

Interest Expense:

Interest expense decreased to $253,000 for 2000 from $474,000 for 1999 primarily as a result of the decreased level of bank borrowings at lower interest rates in 2000 and the accelerated amortization of fees related to the Company’s previous revolving loan agreement in 1999.

Income Taxes:

In the fourth quarter of 1999, the Company reversed approximately $10.2 million of valuation allowance placed on the Company’s deferred tax asset. This reversal was based on updated expectations about future years’ taxable income to reflect continuing improvements in operating results influenced by the Company’s continued revenue growth, and other indications that certain concerns that had previously limited management’s expectations about future taxable income no longer were applicable. Accordingly, income tax expense of $201,000 was recorded using the Company’s estimated fiscal year 2000 effective income tax rate.

RESULTS OF OPERATIONS

First Six Months Fiscal 2000 Compared to First Six Months Fiscal 1999

The following table presents income statement amounts as a percentage of revenue:

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS, Continued

First Six Months Fiscal 2000 Compared to First Six Months Fiscal 1999, Continued

Revenues:

The following table highlights revenues by product line (in 000’s):

Courseware and professional services revenue, the driver of the Company’s operations, increased $3,859,000 or 28% as compared to 1999. The Company continues to experience increased acceptance of its products and services in its various markets. This revenue growth was achieved primarily through increased sales volume to both new and existing customers. Low margin revenues, including hardware, third-party courseware and other services increased $700,000. Total revenues were $19,765,000, an increase of $4,559,000 from 1999.

Gross Profit:

Gross profit for 2000 increased $3,956,000 or 31% to $16,799,000 as compared to $12,843,000 for 1999. This increase was due to the increase in courseware and professional services revenue. Gross margin was 85% for both 2000 and 1999.

Selling, General, and Administrative Expense:

Selling, general, and administrative expense for 2000 increased $3,117,000 or 26% to $14,960,000 as compared to $11,843,000 for 1999. Sales and marketing expenses increased $1,536,000 and general and administrative expenses increased $467,000 due primarily to the planned infrastructure expansion of the sales and marketing organization. The remaining increase was due principally to increased commissions resulting primarily from the growth in revenue. As a percentage of revenue, total selling, general and administrative expense decreased from 78% in 1999 to 76% in 2000.

Product Development and Customer Support:

Product development and customer support expense for 2000 increased $371,000 or 14% to $3,091,000 as compared to $2,720,000 for 1999. Product development expense increased $67,000, due primarily to increased spending offset by decreased capitalization of costs and decreased amortization of previously capitalized costs as compared to 1999.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS, Continued

First Six Months Fiscal 2000 Compared to First Six Months Fiscal 1999, Continued

Product Development and Customer Support, Continued

Customer support expense increased $304,000 as a result of the Company’s expanding customer base. As a percentage of revenue, total product development and customer support expense decreased from 18% in 1999 to 16% in 2000.

Operating Loss:

The operating loss for 2000 was $1,252,000 as compared to $1,720,000 for 1999. This improvement in operating results is due principally to the increase in courseware and professional services revenue, offset by the increased selling, general and administrative, and customer support expenses in 2000.

Interest Expense:

Interest expense decreased to $485,000 for 2000 from $1,089,000 for 1999 primarily as a result of the decreased level of bank borrowings at lower interest rates in 2000 and the accelerated amortization of fees related to the Company’s previous revolving loan agreement in 1999.

Income Taxes:

In the fourth quarter of 1999, the Company reversed approximately $10.2 million of valuation allowance placed on the Company’s deferred tax asset. This reversal was based on updated expectations about future years’ taxable income to reflect continuing improvements in operating results influenced by the Company’s continued revenue growth, and other indications that certain concerns that had previously limited management’s expectations about future taxable income no longer were applicable. Accordingly, an income tax benefit of $696,000 was recorded using the Company’s estimated fiscal year 2000 effective income tax rate.

LIQUIDITY AND CAPITAL RESOURCES

At April 30, 2000, the Company’s principal sources of liquidity included cash and cash equivalents of $119,000, net accounts receivable of $18,380,000, and its line of credit. The Company had installment receivables of $11,077,000 at April 30, 2000, of which $10,481,000 are to be billed within one year and are included in net accounts receivable. Working capital was $5,073,000 at April 30, 2000, a decrease of $1,966,000 from October 31, 1999, due primarily to the collection of accounts receivable and the increased short-term borrowings offset by the payment of year end accruals.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES, Continued

Net cash provided by the Company’s operating activities was $610,000 for the first six months of fiscal 2000 as compared to net cash used in operating activities of $2,216,000 for the first six months of fiscal 1999. Cash flows from operations were used principally to fund the Company’s working capital requirements.

Net cash used in the Company’s investing activities was $1,976,000 for the first six months of fiscal 2000 for capital expenditures and capitalized product development costs.

Net cash provided by financing activities was $1,514,000 for the first six months of fiscal 2000, primarily from short-term borrowings. The Company has resources available under its revolving loan agreement to provide up to a maximum $15 million line of credit. At April 30, 2000, borrowings of $5,941,000 were outstanding at a weighted-average interest rate of 9.1% and the unused borrowing capacity was $6,486,000.

The Company maintains adequate cash reserves and credit facilities to meet its anticipated working capital, capital expenditure, and business investment requirements.

FACTORS AFFECTING QUARTERLY OPERATING RESULTS

The Company’s quarterly operating results fluctuate as a result of a number of factors including the business and sales cycle, the amount and timing of new product introductions by the Company, product shipments, client funding issues, marketing expenditures, product development expenditures and promotional programs. The Company historically has experienced higher levels of revenues in the fourth fiscal quarter. Because of these factors, the results for interim periods presented are not necessarily indicative of the results to be expected for the full fiscal year.

YEAR 2000

The Company began addressing the Year 2000 (Y2K) issue in early 1998 and developed and implemented a comprehensive Y2K readiness plan for the Company’s products and operations. As of June 1, 2000 the Company has not, nor to its knowledge have any of the Company’s key business partners, experienced any material Y2K complications. However, there can be no absolute assurance that the Company and its business partners will not experience some complications resulting from the Y2K issue in the future. The Company’s Y2K costs have not been material to its financial condition or results of operations.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK

Interest Rate Risk:

At April 30, 2000, the fair value of the Company’s debt approximates market. Market risk is estimated as the potential increase in fair value resulting from a hypothetical one-half percent change in interest rates. The Company’s long-term debt is held at a fixed rate. As a result, risk relating to interest fluctuation is considered minimal.

Foreign Currency Exchange Rate Risk:

The Company markets its products worldwide and has operations in Canada and the United Kingdom. As a result, financial results could be affected by changes in foreign currency exchange rates or weak economic conditions in foreign markets. Working funds necessary to facilitate the short-term operations of foreign subsidiaries are kept in local currencies in which they do business. Approximately 4% and 3% of total revenues were denominated in currencies other than the U.S. dollar for the three and six months ended April 30, 2000.

NOTE REGARDING FORWARD LOOKING INFORMATION

This Form 10-Q contains forward-looking statements identified by the use of “believes”, “expects”, “anticipates”, and similar expressions. Such statements are subject to risk and uncertainties that could cause actual results to differ from those contemplated by the forward-looking statement. Such risks and uncertainties include any change in the market acceptance of the Company’s products and services, the risk of failure of the Company’s technology to remain at market standards, the risk of the Company being able to finance its business operations, and other similar business and market risks. Readers are cautioned not to place undue reliance on such forward-looking statements.

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PART II. OTHER INFORMATION

Item 1.    Legal Proceedings

	The Company is not a party to any litigation that is expected to have a material adverse effect on the Company or its business.

Item 2.    Changes in Securities

	Not Applicable.

Item 3.    Defaults Upon Senior Securities

	Not Applicable.

Item 4.    Submission of Matters to a Vote of Security Holders

	The Company’s Annual Meeting of Stockholders was held on March 30, 2000 at which stockholders voted on and approved the following:

	(a)   The election of two Class I directors of the Company to serve until the 2003 Annual Meeting. The voting was as follows:

	(b)  An amendment to the Company’s certificate of incorporation to effectuate a name change from TRO        Learning, Inc. to PLATO Learning, Inc. The voting was as follows:

	(c)  The 2000 Stock Incentive Plan. The voting was as follows:

	(d)  The 2000 Non-Employee Directors Stock Option Plan. The voting was as follows:

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Item 4.    Submission of Matters to a Vote of Security Holders, Continued

	(e)  The appointment of PricewaterhouseCoopers LLP as independent accountants for the Company for        the fiscal year ending October 31, 2000. The voting was as follows:

Item 5.    Other Information

	Not Applicable.

Item 6.    Exhibits and Reports on Form 8-K

	(a)  Exhibits

	(b)  Reports on Form 8-K:

	On April 24, 2000, the Company filed a Current Report on Form 8-K to announce its name change       from TRO Learning, Inc. to PLATO Learning, Inc.

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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, thereunto duly authorized on June 7, 2000.

PLATO LEARNING, INC.

By	/s/William R. Roach, Chairman of the Board and Chief Executive Officer (principal executive officer)

/s/John Murray President, Chief Operating Officer and Acting Chief Financial Officer (principal financial officer)

/s/Mary Jo Murphy Vice President, Corporate Controller and Chief Accounting Officer (principal accounting officer)

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