For Quarter Ended		Commission file number
August 31, 2002		1-8798

Delaware		11-2621097
(State of other jurisdiction of		(I.R.S. Employer
incorporation or organization		Identification No.)
70 Maxess Road, Melville, New York		11747
(Address of principal executive offices)		(Zip Code)

(631) 396-5000

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report.)

Common Stock—Par Value $.0066		16,646,868
Class		Outstanding Shares

						Page(s)
Part I.    Financial Information
		Item 1.		Financial Statements
				Consolidated Condensed Balance Sheets—August 31, 2002 (unaudited) and February 28, 2002		3
				Consolidated Condensed Statements of Income (unaudited)—Six and Three Months Ended August 31, 2002 and 2001		4
				Consolidated Condensed Statements of Cash Flows (unaudited)—Six Months Ended August 31, 2002 and 2001		5
				Notes to Interim Consolidated Condensed Financial Statements (unaudited)		6-8
		Item 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations		9-11
		Item 3.		Quantitative and Qualitative Disclosures About Market Risk		12
		Item 4.		Controls and Procedures		12
Part II.      Other Information						13
		Item 4		Submission of Matters to a Vote of Security Holders		13
		SIGNATURES				14
		CERTIFICATIONS				15-16
Exhibit Index

		August 31, 2002				February 28, 2002
		(unaudited)
— ASSETS —
CURRENT ASSETS:
Cash and cash equivalents		$	20,169,218			$	2,689,978
Accounts receivable—net of allowance of doubtful accounts of $4,141,867 and $4,445,901 for August 31, 2002 and February 28, 2002, respectively			41,981,674				40,018,469
Inventories			78,780,599				95,076,198
Prepaid expenses and other current assets			2,225,808				3,726,568
TOTAL CURRENT ASSETS			143,157,299				141,511,213
PROPERTY, PLANT AND EQUIPMENT—NET (Note 3)			5,562,984				6,145,476
OTHER ASSETS:
Subordinated note receivable (Note 2)			2,000,000				2,000,000
Other assets			1,609,816				1,661,772
		$	152,330,099			$	151,318,461
— LIABILITIES AND SHAREHOLDERS’ EQUITY —
CURRENT LIABILITIES:
Accounts payable		$	22,226,414			$	13,637,730
Accrued expenses			1,907,585				7,083,324
TOTAL CURRENT LIABILITIES			24,133,999				20,721,054
LONG TERM LIABILITIES:
Deferred income taxes			236,617				231,598
Revolving credit line (Note 4)			—				2,500,000
TOTAL LONG-TERM LIABILITIES			236,617				2,731,598
MINORITY INTEREST IN SUBSIDIARIES			1,538,125				1,392,632
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Preferred stock, $1 par value, 1,000,000 shares authorized; none issued or outstanding			—				—
Common stock, $.0066 par value, 20,000,000 shares authorized; 16,646,868 and 16,609,005 shares issued and outstanding for August 31, 2002 and February 28, 2002, respectively			109,869				109,619
Additional paid-in capital			42,757,733				42,600,827
Retained earnings			84,272,427				84,010,397
Other accumulated comprehensive income (loss)			(718,671	)			(247,666	)
TOTAL SHAREHOLDERS’ EQUITY			126,421,358				126,473,177
		$	152,330,099			$	151,318,461

		For the Six Months Ended						For the Three Months Ended
		August 31, 2002			August 31, 2001			August 31, 2002			August 31, 2001
NET SALES		$	155,321,995		$	159,691,937		$	80,309,727		$	69,947,370
COSTS AND EXPENSES:
Cost of sales			126,296,049			124,547,470			65,748,059			53,895,457
Operating expenses			28,335,839			32,040,903			14,071,202			14,798,207
Interest expense			69,493			1,145,804			21,664			190,980
			154,701,381			157,734,177			79,840,925			68,884,644
INCOME BEFORE PROVISION FOR INCOME TAXES AND MINORITY INTERESTS			620,614			1,957,760			468,802			1,062,726
Provision for income taxes			213,091			798,227			167,826			432,836
INCOME BEFORE MINORITY INTERESTS			407,523			1,159,533			300,976			629,890
Minority interest in earnings of subsidiaries			145,493			280,776			46,648			193,249
INCOME FROM CONTINUING OPERATIONS			262,030			878,757			254,328			436,641
DISCONTINUED OPERATIONS (Note 2):
Income from operations of contract manufacturing subsidiary disposed of—net of income taxes (Note 2)			—			798,736			—			256,801
Gain on sale of contract manufacturing subsidiary—net of income taxes			—			2,577,232			—			2,577,232
			—			3,375,968			—			2,834,033
NET INCOME		$	262,030		$	4,254,725		$	254,328		$	3,270,674
NET INCOME PER COMMON SHARE—BASIC:
Continuing operations		$	.02		$	.05		$	.02		$	.03
Discontinued operations			.00			.21			.00			.17
		$	.02		$	.26		$	.02		$	.20
NET INCOME PER COMMON SHARE—DILUTED:
Continuing operations		$	.02		$	.05		$	.02		$	.03
Discontinued operations			.00			.19			.00			.16
		$	.02		$	.24		$	.02		$	.19
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic			16,641,658			16,554,857			16,646,868			16,562,583
Diluted			16,783,837			17,459,186			16,714,882			17,476,420

		For The Six Months Ended
		August 31, 2002				August 31, 2001
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from customers		$	153,358,790			$	238,616,124
Cash paid to suppliers and employees			(132,864,405	)			(140,831,891	)
Interest paid			(69,493	)			(1,145,804	)
Income taxes paid			(32,981	)			(5,666,028	)
Net cash provided by operating activities			20,391,911				90,972,401
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(98,822	)			(1,377,162	)
Proceeds from sale of subsidiary			—				29,563,000
Net assets of subsidiary sold			—				(21,549,811	)
Expenses related to sale of subsidiary			—				(3,606,122	)
Net cash (used in) provided by investing activities</