Gorman-Rupp

-12.4%

Live  

The Gorman-Rupp Company is a leading manufacturer of pumps and pumping systems for various industries, including agriculture, construction, industrial, and municipal markets. The company was founded in 1933 by J.C. Gorman and Herbert E. Rupp in Mansfield, Ohio, and has since grown to become a global leader in the pump industry.
The company's products include self-priming centrifugal pumps, submersible pumps, diaphragm pumps, and other specialty pumps, as well as pumping systems and accessories. They also offer a wide range of services, including installation, maintenance, and repair of their products.
Gorman-Rupp is known for its high-quality and reliable products, designed to withstand tough and demanding applications. The company has a strong commitment to innovation and constantly invests in research and development to improve their products and meet the changing needs of their customers.
In addition to their manufacturing facilities in the United States, Gorman-Rupp also has operations in Canada, Europe, Asia, and South America. The company serves customers in more than 80 countries worldwide and has a network of distributors to ensure their products are readily available to customers.
Gorman-Rupp is also committed to sustainability and has implemented environmental practices in their operations and products, such as energy-efficient pumps and environmentally friendly materials.
Overall, the Gorman-Rupp Company has a long history of providing high-quality pumps and pumping systems to various industries, with a strong emphasis on innovation, reliability, and sustainability.

R29ybWFSdX BwIGlzIGEg Y29tcGFueS B0aGF0IG1h a2VzIHNwZW NpYWwgbWFj aGluZXMgY2 FsbGVkIHB1 bXBzLiBUaG VzZSBwdW1w cyBhcmUgbG lrZSBiaWcs IHN0cm9uZy BzdHJhd3Mg dGhhdCBjYW 4gbW92ZSBs aXF1aWRzIG xpa2Ugd2F0 ZXIsIG9pbC wgb3IgY2hl bWljYWxzIG Zyb20gb25l IHBsYWNlIH RvIGFub3Ro ZXIuIFRoZX kgYXJlIHVz ZWQgaW4gbW FueSBwbGFj ZXMsIGxpa2 UgY29uc3Ry dWN0aW9uIH NpdGVzLCBm YWN0b3JpZX MsIGFuZCBl dmVuIGluIH NvbWUgYnVp bGRpbmdzIH RvIGhlbHAg a2VlcCB0aG luZ3MgcnVu bmluZyBzbW 9vdGhseS48 YnI+VGhlIG NvbXBhbnkg bWFrZXMgbW 9uZXkgYnkg c2VsbGluZy B0aGVzZSBw dW1wcyBhbm QgcHJvdmlk aW5nIHNlcn ZpY2VzIHRv IGhlbHAgY3 VzdG9tZXJz IGluc3RhbG wgYW5kIG1h aW50YWluIH RoZW0uIFRo aW5rIG9mIG l0IGxpa2Ug c2VsbGluZy B0b3lzIGFu ZCBhbHNvIG 9mZmVyaW5n IGhlbHAgdG 8gZml4IG9y IHRha2UgY2 FyZSBvZiB0 aG9zZSB0b3 lzIHdoZW4g dGhleSBnZX QgYnJva2Vu Ljxicj5Hb3 JtYVJ1cHAg aXMgc3VjY2 Vzc2Z1bCBm b3IgYSBmZX cgcmVhc29u cy4gRmlyc3 QsIHRoZXkg Y3JlYXRlIG hpZ2gtcXVh bGl0eSBwdW 1wcyB0aGF0 IGxhc3QgYS Bsb25nIHRp bWUsIHdoaW NoIG1lYW5z IHBlb3BsZS B0cnVzdCB0 aGVtIHRvIG RvIGEgZ29v ZCBqb2IuIF NlY29uZCwg dGhleSBhcm UgYWx3YXlz IHdvcmtpbm cgb24gbmV3 IGlkZWFzIG FuZCBtYWtp bmcgdGhlaX IgcHJvZHVj dHMgYmV0dG VyLCB3aGlj aCBoZWxwcy B0aGVtIHN0 YXkgYWhlYW Qgb2YgdGhl aXIgY29tcG V0aXRvcnMu IFRoaXJkLC B0aGV5IGhh dmUgY3VzdG 9tZXJzIGlu IG1hbnkgZG lmZmVyZW50 IGluZHVzdH JpZXMsIHNv IGV2ZW4gaW Ygb25lIGFy ZWEgc2xvd3 MgZG93biwg b3RoZXJzIG FyZSBzdGls bCBidXlpbm cgdGhlaXIg cHVtcHMuPG JyPkluIHRo ZSBmdXR1cm UsIEdvcm1h UnVwcCBpcy BsaWtlbHkg dG8ga2VlcC BiZWluZyBz dWNjZXNzZn VsIGJlY2F1 c2UgdGhleS BhcmUgZm9j dXNlZCBvbi BtYWtpbmcg dGhlaXIgcH VtcHMgbW9y ZSBlZmZpY2 llbnQgYW5k IGhlbHBpbm cgdG8gc29s dmUgbmV3IH Byb2JsZW1z LCBsaWtlIG 1vdmluZyB3 YXRlciBpbi BhIHdheSB0 aGF04oCZcy BiZXR0ZXIg Zm9yIHRoZS BlbnZpcm9u bWVudC4gQX MgcGVvcGxl IGFuZCBidX NpbmVzc2Vz IGNvbnRpbn VlIG5lZWRp bmcgcmVsaW FibGUgd2F5 cyB0byBtb3 ZlIGxpcXVp ZHMsIEdvcm 1hUnVwcCB3 aWxsIGJlIH RoZXJlIHRv IGhlbHAhPG JyPg==

MS4gTG9uZy BIaXN0b3J5 OiBUaGUgR2 9ybWFuLVJ1 cHAgQ29tcG FueSBoYXMg YmVlbiBpbi BidXNpbmVz cyBmb3Igb3 ZlciA4NSB5 ZWFycywgbW FraW5nIGl0 IG9uZSBvZi B0aGUgb2xk ZXN0IHB1bX AgbWFudWZh Y3R1cmVycy BpbiB0aGUg VW5pdGVkIF N0YXRlcy48 YnI+Mi4gV2 lkZSBSYW5n ZSBvZiBQcm 9kdWN0czog R29ybWFuLV J1cHAgb2Zm ZXJzIGEgd2 lkZSByYW5n ZSBvZiBwcm 9kdWN0cywg aW5jbHVkaW 5nIHNlbGYt cHJpbWluZy BjZW50cmlm dWdhbCBwdW 1wcywgc3Vi bWVyc2libG UgcHVtcHMs IGRpYXBocm FnbSBwdW1w cywgYW5kIG dlYXIgcHVt cHMsIGNhdG VyaW5nIHRv IHZhcmlvdX MgaW5kdXN0 cmllcyBhbm QgYXBwbGlj YXRpb25zLj xicj4zLiBJ bmR1c3RyeS BMZWFkZXI6 IEdvcm1hbi 1SdXBwIGlz IGEgcmVjb2 duaXplZCBs ZWFkZXIgaW 4gdGhlIHB1 bXBpbmcgaW 5kdXN0cnks IGtub3duIG ZvciBpdHMg aGlnaC1xdW FsaXR5IGFu ZCByZWxpYW JsZSBwcm9k dWN0cy48Yn I+NC4gSW5u b3ZhdGl2ZS BUZWNobm9s b2d5OiBUaG UgY29tcGFu eSBjb250aW 51b3VzbHkg aW52ZXN0cy BpbiByZXNl YXJjaCBhbm QgZGV2ZWxv cG1lbnQgdG 8gaW50cm9k dWNlIG5ldy wgaW5ub3Zh dGl2ZSB0ZW Nobm9sb2d5 IGluIGl0cy Bwcm9kdWN0 cywgbWFraW 5nIHRoZW0g bW9yZSBlZm ZpY2llbnQs IGR1cmFibG UsIGFuZCBj b3N0LWVmZm VjdGl2ZS48 YnI+NS4gQ3 VzdG9taXpl ZCBTb2x1dG lvbnM6IEdv cm1hbi1SdX BwIHdvcmtz IGNsb3NlbH kgd2l0aCBp dHMgY3VzdG 9tZXJzIHRv IHVuZGVyc3 RhbmQgdGhl aXIgc3BlY2 lmaWMgbmVl ZHMgYW5kIG 9mZmVycyBj dXN0b21pem VkIHNvbHV0 aW9ucyB0by BtZWV0IHRo ZWlyIHVuaX F1ZSByZXF1 aXJlbWVudH MuPGJyPjYu IEdsb2JhbC BQcmVzZW5j ZTogVGhlIG NvbXBhbnkg aGFzIGEgd2 lkZXNwcmVh ZCBnbG9iYW wgcHJlc2Vu Y2UsIHdpdG ggb3BlcmF0 aW9ucyBpbi Btb3JlIHRo YW4gMTAwIG NvdW50cmll cywgcHJvdm lkaW5nIGl0 cyBwcm9kdW N0cyBhbmQg c2VydmljZX MgdG8gYSBk aXZlcnNlIG N1c3RvbWVy IGJhc2UuPG JyPjcuIENv bW1pdG1lbn QgdG8gUXVh bGl0eTogR2 9ybWFuLVJ1 cHAgaXMgY2 9tbWl0dGVk IHRvIHByb3 ZpZGluZyB0 aGUgaGlnaG VzdCBxdWFs aXR5IHByb2 R1Y3RzIGFu ZCBzZXJ2aW Nlcywgd2l0 aCBhIHN0cm 9uZyBlbXBo YXNpcyBvbi Bjb250aW51 b3VzIGltcH JvdmVtZW50 IGFuZCBjdX N0b21lciBz YXRpc2ZhY3 Rpb24uPGJy PjguIEV4dG Vuc2l2ZSBT ZXJ2aWNlIE 5ldHdvcms6 IFRoZSBjb2 1wYW55IGhh cyBhbiBleH RlbnNpdmUg bmV0d29yay BvZiBhdXRo b3JpemVkIG Rpc3RyaWJ1 dG9ycyBhbm Qgc2Vydmlj ZSBwcm92aW RlcnMsIGVu c3VyaW5nIH F1aWNrIGFu ZCBlZmZpY2 llbnQgc3Vw cG9ydCBmb3 IgaXRzIGN1 c3RvbWVycy 48YnI+OS4g U3Ryb25nIE ZpbmFuY2lh bCBQZXJmb3 JtYW5jZTog R29ybWFuLV J1cHAgaGFz IGEgc3Ryb2 5nIGZpbmFu Y2lhbCB0cm FjayByZWNv cmQsIHJlZm xlY3Rpbmcg aXRzIHN0YW JpbGl0eSBh bmQgbG9uZy 10ZXJtIHN1 Y2Nlc3MgaW 4gdGhlIG1h cmtldC48Yn I+MTAuIEVu dmlyb25tZW 50YWwgUmVz cG9uc2liaW xpdHk6IFRo ZSBjb21wYW 55IGlzIGNv bW1pdHRlZC B0byBlbnZp cm9ubWVudG FsIHJlc3Bv bnNpYmlsaX R5IGFuZCBz dXN0YWluYW JpbGl0eSwg d2l0aCBhIG ZvY3VzIG9u IHByb2R1Y2 luZyBlbmVy Z3ktZWZmaW NpZW50IHBy b2R1Y3RzIG FuZCByZWR1 Y2luZyBpdH MgZW52aXJv bm1lbnRhbC Bmb290cHJp bnQuPGJyPg ==

VGhlIEdvcm 1hbi1SdXBw IGNvbXBhbn kncyBidXNp bmVzcyBtb2 RlbCBmb2N1 c2VzIG9uIG Rlc2lnbmlu ZywgbWFudW ZhY3R1cmlu ZywgYW5kIH NlbGxpbmcg cHVtcHMgYW 5kIHB1bXBp bmcgc3lzdG VtcyBmb3Ig dmFyaW91cy BpbmR1c3Ry aWVzLCBpbm NsdWRpbmcg YWdyaWN1bH R1cmUsIGNv bnN0cnVjdG lvbiwgbXVu aWNpcGFsLC B3YXN0ZXdh dGVyLCBhbm QgaW5kdXN0 cmlhbCBtYX JrZXRzLiBU aGVpciBwcm 9kdWN0cyBh cmUgZGVzaW duZWQgZm9y IGVmZmljaW VudCBhbmQg cmVsaWFibG Ugb3BlcmF0 aW9uLCB3aX RoIGEgZm9j dXMgb24gZH VyYWJpbGl0 eSwgbG9uZ2 V2aXR5LCBh bmQgZWFzZS BvZiBtYWlu dGVuYW5jZS 4gVGhlIGNv bXBhbnkgYW xzbyBvZmZl cnMgYWZ0ZX JtYXJrZXQg c2VydmljZX MsIGluY2x1 ZGluZyByZX BhaXIsIG1h aW50ZW5hbm NlLCBhbmQg cmVwbGFjZW 1lbnQgcGFy dHMuIFRoZX kgYWltIHRv IHByb3ZpZG UgaGlnaC1x dWFsaXR5IH Byb2R1Y3Rz IGFuZCBleG NlbGxlbnQg Y3VzdG9tZX Igc2Vydmlj ZSB0byBtYW ludGFpbiBs b25nLXRlcm 0gcmVsYXRp b25zaGlwcy B3aXRoIHRo ZWlyIGNsaW VudHMuIEFk ZGl0aW9uYW xseSwgdGhl IGNvbXBhbn kgYWxzbyBp bnZlc3RzIG luIHJlc2Vh cmNoIGFuZC BkZXZlbG9w bWVudCB0by Bjb250aW51 YWxseSBpbX Byb3ZlIHRo ZWlyIHByb2 R1Y3RzIGFu ZCBzdGF5IG F0IHRoZSBm b3JlZnJvbn Qgb2YgdGhl IGluZHVzdH J5Lg==

The impact of AI on GormaRupp Company, which specializes in the manufacturing of pumps and fluid handling systems, can be analyzed through several lenses: substitution, disintermediation, and margin pressure.
1. Substitution: AI technologies could introduce alternative solutions for fluid handling that may not require traditional mechanical systems. For example, advancements in robotics and automated systems may lead to the development of new methods of fluid management in various industries. While this could pose a threat, GormaRupp’s established reputation, product quality, and niche market expertise may help mitigate this risk. However, it is essential for the company to continuously innovate and potentially integrate AI technologies into their product lines to meet changing market demands.
2. Disintermediation: The rise of AI could streamline the supply chain and sales processes, potentially reducing the need for intermediaries. For GormaRupp, this could mean that customers eventually purchase products directly from manufacturers through online platforms enhanced by AI for customization and reduced lead times. Such a shift could disrupt traditional distribution channels but also open opportunities for direct engagement with customers, allowing for better service and responsiveness.
3. Margin Pressure: AI can lead to increased competition by enabling new entrants to the market who utilize advanced technologies that lower their operational costs. These competitors may offer similar products at lower prices, placing pressure on GormaRupp’s margins. Additionally, AI-driven efficiencies may set new standards for pricing that could force GormaRupp to adapt its pricing strategies to remain competitive. The ability to leverage AI for process improvements and cost reductions within their operations will be crucial for maintaining profit margins.
In summary, while AI presents potential threats to GormaRupp through substitution, disintermediation, and margin pressure, the company’s established presence and focus on innovation will be crucial in navigating these challenges. Adapting to new technologies and integrating AI into their offerings could help GormaRupp maintain a competitive edge.

The sensitivity of GormaRupp Company’s earnings, cash flow, and valuation to changes in interest rates can be analyzed through several key factors:
1. Earnings Sensitivity: GormaRupp may experience fluctuations in its earnings due to changes in interest rates. Higher interest rates can lead to increased borrowing costs for the company, affecting its net income negatively. This could result in higher costs for financing operations, expansion, or capital improvements. Additionally, if interest rates rise, it could reduce demand for products if customers face higher financing costs, which may further impact earnings.
2. Cash Flow Sensitivity: Changes in interest rates can directly influence GormaRupp’s cash flow. If the company has variable-rate debt, higher interest rates could lead to increased interest payments, thereby reducing cash flow available for operating activities and investing in growth. Conversely, if interest rates decrease, the company might benefit from lower interest expenses, potentially enhancing cash flow.
3. Valuation Sensitivity: The valuation of GormaRupp is often assessed through discounted cash flow analysis and other valuation models that rely on future cash flows. Higher interest rates generally lead to a higher discount rate, which can reduce the present value of future cash flows and, consequently, the overall valuation of the company. Investors may become less willing to pay a premium for stocks during environments of rising interest rates, which can negatively influence market valuations.
Overall, while GormaRupp may not be as exposed to interest rate changes as companies in highly leveraged industries, fluctuations in interest rates can still have meaningful impacts on its earnings, cash flow, and overall valuation. The degree of sensitivity will depend on the company’s debt structure, customer financing dynamics, and prevailing economic conditions.

T25lIHJlYW xpc3RpYyBz Y2VuYXJpby B0aGF0IGNv dWxkIHBlcm 1hbmVudGx5 IGltcGFpci BUaGUgR29y bWFSdXBwIE NvbXBhbnni gJlzIGVjb2 5vbWljcyBv dmVyIHRoZS BuZXh0IDPi gJM1IHllYX JzIHdvdWxk IGJlIGEgc2 lnbmlmaWNh bnQgc2hpZn QgaW4gcmVn dWxhdG9yeS BzdGFuZGFy ZHMsIHBhcn RpY3VsYXJs eSBjb25jZX JuaW5nIGVu dmlyb25tZW 50YWwgYW5k IGVuZXJneS BlZmZpY2ll bmN5IHJlcX VpcmVtZW50 cyBmb3IgaW 5kdXN0cmlh bCBwdW1waW 5nIHN5c3Rl bXMuIElmIG 5ldyByZWd1 bGF0aW9ucy B3ZXJlIGlu dHJvZHVjZW QgdGhhdCBt YW5kYXRlZC BkcmFzdGlj IHJlZHVjdG lvbnMgaW4g ZW1pc3Npb2 5zIG9yIGVu ZXJneSBjb2 5zdW1wdGlv biwgR29ybW FSdXBwIG1p Z2h0IGZhY2 Ugc3Vic3Rh bnRpYWwgY2 9zdHMgYXNz b2NpYXRlZC B3aXRoIHJl ZGVzaWduaW 5nIHRoZWly IHByb2R1Y3 RzLCB1cGdy YWRpbmcgbW FudWZhY3R1 cmluZyBwcm 9jZXNzZXMs IG9yIHJldH JvZml0dGlu ZyBleGlzdG luZyBzeXN0 ZW1zLiA8Yn I+SW4gdGhp cyBzY2VuYX JpbywgdGhl IGNvbXBhbn kgd291bGQg bGlrZWx5IG V4cGVyaWVu Y2UgaW5jcm Vhc2VkIG9w ZXJhdGlvbm FsIGNvc3Rz LCBhZmZlY3 RpbmcgaXRz IG1hcmdpbn MuIEhpZ2hl ciByZXNlYX JjaCBhbmQg ZGV2ZWxvcG 1lbnQgZXhw ZW5zZXMgd2 91bGQgYmUg aW5jdXJyZW QgYXMgdGhl IGNvbXBhbn kgc2Vla3Mg dG8gaW5ub3 ZhdGUgYW5k IGNvbXBseS B3aXRoIHRo ZSBuZXcgcm VndWxhdGlv bnMuIEFkZG l0aW9uYWxs eSwgcHJvZH VjdGlvbiBj b3N0cyBjb3 VsZCBlc2Nh bGF0ZSBkdW UgdG8gdGhl IG5lZWQgZm 9yIG1vcmUg YWR2YW5jZW QgbWF0ZXJp YWxzIGFuZC B0ZWNobm9s b2dpZXMsIG xlYWRpbmcg dG8gYSBkZW NyZWFzZSBp biBncm9zcy BtYXJnaW5z LiA8YnI+Q2 FzaCBmbG93 IHdvdWxkIG Fsc28gYmUg YWZmZWN0ZW QgbmVnYXRp dmVseSBpbi B0aGUgc2hv cnQgdG8gbW VkaXVtIHRl cm0gZHVlIH RvIGluY3Jl YXNlZCBjYX BpdGFsIGV4 cGVuZGl0dX JlcyBuZWVk ZWQgZm9yIG NvbXBsaWFu Y2UgYW5kIH BvdGVudGlh bCBkaXNydX B0aW9ucyBp biBwcm9kdW N0aW9uIGR1 cmluZyB0cm Fuc2l0aW9u cy4gSW4gdG hlIGxvbmcg cnVuLCBpZi BHb3JtYVJ1 cHAgZmFpbH MgdG8gaW5u b3ZhdGUgcX VpY2tseSBl bm91Z2ggb3 IgaWYgdGhl IG1hcmtldC BzaGlmdHMg ZHJhbWF0aW NhbGx5IHRv d2FyZCBjb2 1wZXRpdG9y cyB3aG8gYX JlIGJldHRl ciBwcmVwYX JlZCBmb3Ig dGhlc2Ugcm VndWxhdG9y eSBjaGFuZ2 VzLCB0aGUg Y29tcGFueS Bjb3VsZCBz ZWUgYSBwZX JtYW5lbnQg ZGVjcmVhc2 UgaW4gbWFy a2V0IHNoYX JlLCBmdXJ0 aGVyIGltcG FjdGluZyBj YXNoIGZsb3 cuPGJyPkZy b20gYSBiYW xhbmNlIHNo ZWV0IHBlcn NwZWN0aXZl LCBpZiB0aG UgY29tcGFu eSB0YWtlcy BvbiBkZWJ0 IHRvIGZpbm FuY2UgdGhl IG5lY2Vzc2 FyeSBpbnZl c3RtZW50cy Bmb3IgY29t cGxpYW5jZS wgaXRzIGRl YnQtdG8tZX F1aXR5IHJh dGlvIGNvdW xkIHdvcnNl biwgaW5kaW NhdGluZyBp bmNyZWFzZW QgZmluYW5j aWFsIHJpc2 suIElmIHRo ZSBjb21wYW 55IHN0cnVn Z2xlcyB0by BnZW5lcmF0 ZSBzdWZmaW NpZW50IGNh c2ggZmxvdy B0byBzZXJ2 aWNlIHRoaX MgZGVidCBh bWlkc3QgZG VjbGluaW5n IHJldmVudW VzLCBpdCBt aWdodCBmYW NlIGxpcXVp ZGl0eSBpc3 N1ZXMuIEFu IGV4dGVuZG VkIHBlcmlv ZCBvZiByZW R1Y2VkIHBy b2ZpdGFiaW xpdHkgY291 bGQgYWxzby BhZmZlY3Qg cmV0YWluZW QgZWFybmlu Z3MsIGxpbW l0aW5nIHRo ZSBjb21wYW 554oCZcyBh YmlsaXR5IH RvIHJlaW52 ZXN0IGluIG J1c2luZXNz IG9wZXJhdG lvbnMgb3Ig aXNzdWUgZG l2aWRlbmRz Ljxicj5Jbi BzdW1tYXJ5 LCBpZiBzdH JpbmdlbnQg cmVndWxhdG 9yeSBjaGFu Z2VzIGNvbW UgaW50byBw bGF5LCBHb3 JtYVJ1cHDi gJlzIG1hcm dpbnMgY291 bGQgZXJvZG UgZHVlIHRv IGluY3JlYX NlZCBwcm9k dWN0aW9uIG FuZCBjb21w bGlhbmNlIG Nvc3RzLCBj YXNoIGZsb3 cgd291bGQg bGlrZWx5IG RlY2xpbmUg aW4gdGhlIG ZhY2Ugb2Yg aGlnaGVyIG V4cGVuZGl0 dXJlcyBhbm QgcG90ZW50 aWFsbHkgbG 93ZXIgc2Fs ZXMgdm9sdW 1lcywgYW5k IHRoZSBiYW xhbmNlIHNo ZWV0IGNvdW xkIHJlZmxl Y3QgaW5jcm Vhc2VkIGRl YnQgbGV2ZW xzIGFsb25n c2lkZSBhIG RlY3JlYXNl IGluIGVxdW l0eSBvdmVy IHRpbWUsIH VuZGVybWlu aW5nIHRoZS Bjb21wYW55 4oCZcyBmaW 5hbmNpYWwg aGVhbHRoIG FuZCBsb25n LXRlcm0gdm lhYmlsaXR5 Ljxicj4=

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvWX hRUW5iVUU4 WUV6MGtENT hWNE4ud2Vi cCIgYWx0PS JHb3JtYW4t UnVwcCIgdG l0bGU9Ikdv cm1hbi1SdX BwIiAgY2xh c3M9ImltZy 1mbHVpZCIg aGVpZ2h0PT UwIHdpZHRo PTUwIGxvYW Rpbmc9J2xh enknIHN0eW xlPSdib3Jk ZXItcmFkaX VzOiA2cHg7 Jz4KCiAgIC AgICAgICAg ICAgICAgIC AgPGRpdiBz dHlsZT0nZm xleDogMTsg dGV4dC1hbG lnbjogY2Vu dGVyOyBtYX JnaW4tbGVm dDogNXB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxwIH N0eWxlPSdm b250LXNpem U6IDI2cHg7 IGNvbG9yOi AjMzMzOyBt YXJnaW4tYm 90dG9tOiAx NXB4Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICDwn5 OIIFdhbnQg dG8gcmVhZC Btb3JlIGFi b3V0IEdvcm 1hbi1SdXBw PwogICAgIC AgICAgICAg ICAgICAgIC AgICA8L3A+ CgogICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdpbm RleC5waHA/ cGFnZT1zaW dudXAnIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJhY2 tncm91bmQt Y29sb3I6IC MwMDdCRkY7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBj b2xvcjogI2 ZmZjsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH ggMjBweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJv cmRlci1yYW RpdXM6IDVw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHRleHQtZG Vjb3JhdGlv bjogbm9uZT sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG ZvbnQtd2Vp Z2h0OiBib2 xkOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgbWFyZ2lu LXJpZ2h0Oi AxMHB4Owog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdHJh bnNpdGlvbj ogYmFja2dy b3VuZC1jb2 xvciAwLjNz IGVhc2U7Jw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgb2 5tb3VzZW92 ZXI9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA1Nm IzIicKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIG9ubW91 c2VvdXQ9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A3QkZGIic+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBT aWduIHVwIG ZvciBmcmVl CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvYT4K CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxzcGFu IHN0eWxlPS dtYXJnaW46 IDAgOHB4Oy Bjb2xvcjog IzU1NTsnPm 9yPC9zcGFu PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPGEg aHJlZj0naW 5kZXgucGhw P3BhZ2U9bG 9naW4nIHN0 eWxlPScKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGNvbG 9yOiAjMDA3 QkZGOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdGV4dC 1kZWNvcmF0 aW9uOiB1bm RlcmxpbmU7 CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBm b250LXdlaW dodDogNTAw Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBsb2cgaW 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9hPg oKCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxwIH N0eWxlPSdt YXJnaW4tdG 9wOiAxNXB4 OyBmb250LX NpemU6IDEz cHg7IGZvbn Qtd2VpZ2h0 OiBib2xkOy Bjb2xvcjog I2QzMmYyZj snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+TnSBK b2luIHVzIG FuZCBncmFi IHlvdXIgY2 9weSBvZiA8 aT4iVGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrcyI8L2 k+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvcD 4KCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwhLS 0KICAgICAg ICAgICAgIC AgICAgICAg ICAgPGRpdi BzdHlsZT0n bWFyZ2luLX RvcDogMTJw eDsgZm9udC 1zaXplOiAx M3B4OyBjb2 xvcjogIzQ0 NDsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgU2lnbi B1cCBub3cg YW5kIGdldC BvdXIgZnJl ZSBlQm9vay AKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgID xiPlRoZSBD aGVja2xpc3 QgVmFsdWUg SW52ZXN0b3 Ig4oCUIEEg U21hcnRlci BXYXkgdG8g UGljayBTdG 9ja3M8L2I+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICAg ICAgICAgIC AgICAtLT4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPCEtLQog ICAgICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdtYX JnaW4tdG9w OiAxNnB4Oy Bmb250LXNp emU6IDE0cH g7IGNvbG9y OiAjNDQ0Oy Bmb250LWZh bWlseTogLW FwcGxlLXN5 c3RlbSwgQm xpbmtNYWNT eXN0ZW1Gb2 50LCBTZWdv ZSBVSSwgUm 9ib3RvLCBI ZWx2ZXRpY2 EgTmV1ZSwg c2Fucy1zZX JpZjsgbGlu ZS1oZWlnaH Q6IDEuNjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg SGF2ZSB5b3 UgaGVhcmQg YWJvdXQgb3 VyIHNob3J0 IDxzdHJvbm cgc3R5bGU9 J2ZvbnQtd2 VpZ2h0OiA2 MDA7Jz5EYW lseSBWaWRl byBOZXdzbG V0dGVyPC9z dHJvbmc+Pw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPG EgaHJlZj0n aHR0cHM6Ly 93d3cuaW5z aWdodGZ1bH ZhbHVlLmNv bS9uZXdzbG V0dGVyLnBo cCcgdGFyZ2 V0PSdfYmxh bmsnIHN0eW xlPSdjb2xv cjogIzAwN0 JGRjsgdGV4 dC1kZWNvcm F0aW9uOiBu b25lOyBmb2 50LXdlaWdo dDogNTAwOy BtYXJnaW4t bGVmdDogNn B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg RmluZCBvdX QgbW9yZQog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9h PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg ICAgICAgIC AgICAgLS0+ CiAgICAgIC AgICAgICAg ICAgICAgPC 9kaXY+CiAg ICAgICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIA ogICAgICAg IAogICAgIC AgIDxzcGFu IGNsYXNzPS dibHVycmVk LXRleHQnPg ogICAgICAg ICAgICBMU0 JIYjNKdFlX IDR0VW5Wd2 NDQjMgWVhN Z1ptOTFibS BSbFpDQnBi aUF4IE9UTX pJR2x1SUUg MWhibk5tYV dWcyBaQ3dn VDJocGJ5IE JpZVNCS0xr TXUgSUVkdm NtMWhiaSBC aGJtUWdTR1 Z5IFltVnlk Q0JGTGkgQl NkWEJ3TGp4 aSBjajR0SU ZSb1pTIEJq YjIxd1lXNT UgSUhOMFlY SjBaVyBRZ1 lua2diMlpt IFpYSnBibW NnWVMgQnNh VzVsSUc5bS BJR1JsY0dW dVpHIEZpYk dVZ1lXNWsg SUdWbVptbG phVyBWdWRD Qm9ZVzVrIE lIQjFiWEJ6 SUcgWnZjaU J2YVd4bSBh V1ZzWkNCM2 IzIEpyWlhK ekxqeGkgY2 o0dElFZHZj bSAxaGJpMV NkWEJ3IDRv Q1pjeUJtYV ggSnpkQ0J0 WVdwdiBjaU JpY21WaGEz IFJvY205MV oyZ2cgWTJG dFpTQnBiaS BCMGFHVWdN VGswIE1ITW dkMmwwYUMg QjBhR1VnYV c1MCBjbTlr ZFdOMGFXID l1SUc5bUlI Um8gWlNEaW dKeENaVyB4 c0lDWWdSMj l6IGMyVjBk QzEwZVggQm w0b0NkSUdO bCBiblJ5YV daMVoyIEZz SUhCMWJYQX MgSUhkb2FX Tm9JRyBKbF kyRnRaU0Iw IGFHVWdjM1 JoYm0gUmhj bVFnWm05eS BJSFJvWlNC cGJtIFIxYz NSeWVTNDgg WW5JK0xTQk piaSBCMGFH VWdNVGsxIE 1ITXNJRWR2 Y20gMWhiaT FTZFhCdyBJ R0psWjJGdU lIIFJ2SUdS cGRtVnkgYz JsbWVTQnBk SCBNZ2NISn ZaSFZqIGRD QnNhVzVsSU ggUnZJR2x1 WTJ4MSBaR1 VnYVhKeWFX IGRoZEdsdm JpQncgZFcx d2N5d2dZVy BkeWFXTjFi SFIxIGNtRn NJSEIxYlgg QnpMQ0JoYm 1RZyBiWFZ1 YVdOcGNHIE ZzSUhkaGMz UmwgZDJGMF pYSWdjSCBW dGNITXVQR0 p5IFBpMGdT VzRnTVQgaz JNU3dnZEdo bCBJR052Yl hCaGJuIGtn ZDJWdWRDQn cgZFdKc2FX TWdZVyA1a0 lIZGhjeUJz IGFYTjBaV1 FnYjIgNGdk R2hsSUU1bC BkeUJaYjNK cklGIE4wYj JOcklFVjQg WTJoaGJtZG xMaiB4aWNq NHRJRWR2IG NtMWhiaTFT ZFggQndJR0 oxYVd4MCBJ R2wwY3lCbW FYIEp6ZENC cGJuUmwgY2 01aGRHbHZi bSBGc0lHWm hZMmxzIGFY UjVJR2x1SU UgTmhibUZr WVNCcCBiaU F4T1RZMkxD IEJoYm1RZ2 FHRnogSUhO cGJtTmxJRy BWNGNHRnVa R1ZrIElIUn ZJR2hoZG0g VWdiV0Z1ZF daaCBZM1Ix Y21sdVp5IE JtWVdOcGJH bDAgYVdWek lHbHVJRSBK bGJHZHBkVz BzIElFUjFZ bUZwTEMgQm hibVFnU1c1 ayBhV0V1UE dKeVBpIDBn VkdobElHTn YgYlhCaGJu a2dhRyBGek lHRWdjM1J5 IGIyNW5JR0 52YlcgMXBk RzFsYm5RZy BkRzhnWlc1 MmFYIEp2Ym 0xbGJuUmgg Ykd4NUlHWn lhVyBWdVpH eDVJSEJ5IF lXTjBhV05s Y3kgQmhibV FnYVhSeiBJ SGRoYzNSbG QyIEYwWlhJ Z2JXRnUgWV dkbGJXVnVk QyBCemVYTj BaVzF6IElH RnlaU0JrWl ggTnBaMjVs WkNCMCBieU JpWlNCbGJt IFZ5WjNrdF pXWm0gYVdO cFpXNTBJRy BGdVpDQmxi blpwIGNtOX ViV1Z1ZEcg RnNiSGtnY2 1WeiBjRzl1 YzJsaWJHIF V1UEdKeVBp MGcgUjI5eW JXRnVMViBK MWNIQWdjSE p2IFpIVmpk SE1nYUcgRj JaU0JpWldW dSBJSFZ6Wl dRZ2FXIDRn WVNCMllYSn AgWlhSNUlH OW1JRyBocF oyZ3RjSEp2 IFptbHNaU0 J3Y20gOXFa V04wY3l3Zy BhVzVqYkhW a2FXIDVuSU hSb1pTQmog YjI1emRISj FZMyBScGIy NGdiMllnIG RHaGxJRWh2 YjMgWmxjaU JFWVcwcyBJ SFJvWlNCWG IzIEpzWkNC VWNtRmsgWl NCRFpXNTBa WCBJc0lHRn VaQ0IwIGFH VWdVR0Z1WV cgMWhJRU5o Ym1GcyBJR1 Y0Y0dGdWMy IGx2YmlCd2 NtOXEgWldO MExqeGljai A0dElFbHVJ REU1IE9UZ3 NJRWR2Y20g MWhiaTFTZF hCdyBJR0Zq Y1hWcGNtIF ZrSUVGTlZD QlEgZFcxd0 lFTnZiWCBC aGJua3NJR0 VnIGJHVmha R2x1WnkgQn RZVzUxWm1G aiBkSFZ5Wl hJZ2IyIFln YVc1a2RYTj AgY21saGJD QmhibSBRZ1 kyOXRiV1Z5 IFkybGhiQ0 J3ZFcgMXdj eTQ4WW5JKy BMU0JIYjNK dFlXIDR0VW 5Wd2NDQm8g WVhNZ2QyOX VJRyA1MWJX VnliM1Z6IE lHRjNZWEpr Y3kgQm1iM0 lnYVhSeiBJ R2x1Ym05Ml lYIFJwYjI0 Z1lXNWsgSU dOdmJXMXBk RyAxbGJuUW dkRzhnIGNY VmhiR2wwZV Mgd2dhVzVq YkhWayBhVz VuSUhSb1pT IEJPWVhScG IyNWggYkNC SWVXUnliMy BCdmQyVnlJ RUZ6IGMyOW phV0YwYVcg OXU0b0NaY3 lCUCBkWFJ6 ZEdGdVpHIG x1WnlCVGRH VjMgWVhKa2 MyaHBjQyBC QmQyRnlaQ0 JoIGJtUWdk R2hsSUUgMW hiblZtWVdO MCBkWEpsY2 5NZ1lXIDVr SUVobFlYUW cgVkhKbFlY UmxjbiBNZ1 FYTnpiMk5w IFlYUnBiMj dpZ0ogbHpJ RUZ0WlhKcC BZMkZ1SUUx aGJuIFZtWV dOMGRYSnAg Ym1jZ1FYZG hjbSBRdQog ICAgICAgID wvc3Bhbj4K ICAgICAgIC AKICAgICAg ICA=