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| (Mark One)                                  |   |                                                                                     |
|---------------------------------------------|--------|------------------------------------------------------------------------------------------|
| x                                           |   | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934     |
| For the Fiscal Year Ended December 31, 2010 |
| or                                          |
| o                                           |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

| Delaware(State or other jurisdiction ofincorporation or organization)                       | 22-1657413(I.R.S. EmployerIdentification Number) |
|---------------------------------------------------------------------------------------------|--------------------------------------------------|
|                                                                                        |                                             |
| 445 Broadhollow Road, Suite 100, Melville, New York(Address of principal executive offices) | 11747(Zip Code)                                  |

|   | (Title of each class)                 |   | (Name of each exchange on which registered) |   |
|--------|---------------------------------------|--------|---------------------------------------------|--------|
|   | Class A Common Stock, $1.00 par value |   | The NASDAQ Stock Market LLC                 |   |

| Large accelerated filer o | Accelerated filer o | Non-accelerated filer o(Do not check if asmaller reporting company) | Smaller reporting company x |
|---------------------------|---------------------|---------------------------------------------------------------------|-----------------------------|

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|                 |                                                                                                               | Page   |
|----------------------|--------------------------------------------------------------------------------------------------------------------|--------|
| PART I               |                                                                                                               |   |
| Item 1.              | Business                                                                                                           | 2      |
| Item 1A.             | Risk Factors                                                                                                       | 4      |
| Item 1B.             | Unresolved Staff Comments                                                                                          | 6      |
| Item 2.              | Properties                                                                                                         | 6      |
| Item 3.              | Legal Proceedings                                                                                                  | 7      |
| Item 4.              | [Removed and Reserved]                                                                                             | 7      |
| PART II              |                                                                                                               |   |
| Item 5.              | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 7      |
| Item 6.              | Selected Financial Data                                                                                            | 7      |
| Item 7.              | Management’s Discussion and Analysis of Financial Condition and Results of Operations                        | 7      |
| Item 7A.             | Quantitative and Qualitative Disclosures About Market Risk                                                         | 15     |
| Item 8.              | Financial Statements and Supplementary Data                                                                        | 16     |
| Item 9.              | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                               | 42     |
| Item 9A              | Controls and Procedures                                                                                            | 42     |
| Item 9B.             | Other Information                                                                                                  | 43     |
| PART III   |                                                                                                               |   |
| Item 10.             | Directors, Executive Officers and Corporate Governance                                                             | 44     |
| Item 11.             | Executive Compensation                                                                                             | 44     |
| Item 12.             | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                     | 44     |
| Item 13.             | Certain Relationships and Related Transactions, and Director Independence                                          | 44     |
| Item 14.             | Principal Accounting Fees and Services                                                                             | 44     |
| PART IV              |                                                                                                               |   |
| Item 15.             | Exhibits and Financial Statement Schedules                                                                         | 45     |
|                 | Signatures                                                                                                         | 52     |

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|   | • | Substantial debt and debt service requirements;  The amount of our debt could have important consequences. For example, it could: increase our vulnerability to general adverse economic and industry conditions; limit our ability to fund future capital expenditures, working capital and other general corporate requirements; require us to dedicate a substantial portion of our cash flow from operations to make interest and principal payments on our debt; limit our flexibility in planning for, or reacting to, changes in our business; place us at a competitive disadvantage compared with competitors that have less debt; and limit our ability to borrow additional funds, even when necessary to maintain adequate liquidity. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Compliance with financial covenants.  Under the terms of our credit agreement that we entered into in October 2010, we are required to adhere to certain financial covenants. Although we were in compliance with our financial covenants as of December 31, 2010, in certain prior periods, we were not in compliance with certain financial covenants under our prior credit facility. If we are not in compliance with any financial covenant at any time in the future and such non-compliance is not waived, our access to funds may be adversely affected, debt may become due immediately, and/or certain of our assets securing our debt could be foreclosed. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Significant volatility and disruption in the global capital and credit markets.  Volatility in the global capital and credit markets since early 2008 has resulted in a tightening of business credit and liquidity, a contraction of consumer credit, business failures, increased unemployment and declines in consumer confidence and spending. If global economic and financial market conditions deteriorate or remain weak for an extended period of time, it could have a material adverse effect on our financial condition and results of operations. In particular, lower consumer spending may result in reduced demand and orders for certain of our products, order cancellations, lower revenues, increased inventories, and lower gross margins. Further, if our customers experience difficulty obtaining financing in the capital and credit markets to purchase our products, this could result in further reduced orders for our products, order cancellations, inability of customers to timely meet their payment obligations to us, extended payment terms, higher accounts receivable, reduced cash flows, greater expense associated with collection efforts and increased bad debt expense; and a severe financial difficulty experienced by our customers may cause them to become insolvent or cease business operations. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | The strength of the retail economy in the United States.  Our business is subject to economic conditions in major markets, including recession, inflation, deflation, general weakness in retail, industrial, and housing markets.  The strength of such markets are a function of many factors beyond our control, including interest rates, employment levels, availability of credit and consumer confidence. Such economic conditions have had, and may continue to have, an adverse effect on our results of operations and financial position. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | • | Supply chain disruptions.  Any difficulty or inability on the part of manufacturers of our products or other participants in our supply chain in obtaining sufficient financing to purchase raw materials or to finance general working capital needs may result in delays or non-delivery of shipments of our products. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Our ability to maintain mutually beneficial relationships with key customers.  We have several key customers, one of which constituted approximately 28% of our consolidated revenues for 2010. Loss of key customers or a material negative change in our relationships with our key customers could have a material adverse effect on our business, results of operations or financial position. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Adverse changes in currency exchange rates or raw material commodity prices.  A majority of our products are manufactured outside the United States, of which a significant amount is purchased in the local currency. As a result, we are exposed to movements in the exchange rates of various currencies against the United States dollar which could have an adverse effect on our results of operations or financial position. We believe our most significant foreign currency exposures are the Taiwan dollar (“TWD”) and the Chinese Renminbi (“RMB”). Purchases from Chinese sources are made in U.S. dollars. However, if the Chinese currency, the Renminbi (“RMB”), were to be revalued against the dollar, there could be a significant negative impact on the cost of our products. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Impairment of long-lived assets and goodwill.  The inability of certain of our subsidiaries to generate future cash flows sufficient to support the recorded amounts of goodwill, other intangible assets and other long-lived assets related to those subsidiaries could result in future impairment charges. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Unforeseen interruptions in the manufacturing ability of certain foreign suppliers.  Our foreign suppliers may encounter interruption in their ability to continue to provide us with products on a short-term or long-term basis. Although we believe that there are redundant sources available and maintain multiple sources for certain of our products, there may be costs and delays associated with securing such sources and there can be no assurance that such sources would provide the same quality of product at similar prices. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Unforeseen inventory adjustments or changes in purchasing patterns.  We make purchasing decisions based upon a number of factors including an assessment of market needs and preferences, manufacturing lead times and cash flow considerations. To the extent that our assumptions result in inventory levels being too high or too low, there could be a material adverse effect on our business, results of operations or financial position. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Market acceptance of new products.  There can be no assurance that the market continues its acceptance of the new products we introduced in recent years or will accept new products scheduled for introduction in 2011. There can also be no assurance that the level of sales generated from these new products relative to our expectations will materialize, based on existing investments in productive capacity and commitments by us to fund advertising and product promotions in connection with the introduction of these new products. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Increased competition.  The domestic markets in which we sell our products are highly competitive on the basis of price, quality, availability, post-sale service and brand-name awareness. A number of competing companies are well-established manufacturers that compete on a global basis. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Price reductions.  Price reductions taken by us in response to customer and competitive pressures, as well as price reductions or promotional actions taken in order to drive demand, may not result in anticipated sales necessary to offset the associated costs. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Interest rates.  Interest rate fluctuations and other capital market conditions could have a material adverse effect on our business, results of operations or financial position. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Litigation.  The effects of litigation and product liability exposures, as well as other risks and uncertainties described from time to time in our filings with the Securities and Exchange Commission and public announcements could have a material adverse effect on our business, results of operations or financial position. Further, while we maintain insurance policies to protect against most potential exposures, events may arise against which we may not be adequately insured. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Retention of key personnel.  Our success depends to a significant extent upon the abilities and efforts of our key personnel. The loss of the services of any of our key personnel or our inability to attract and retain qualified personnel in the future could have a material adverse effect on our business, results of operations or financial position. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Acquisition of businesses.  Part of our business strategy is to opportunistically acquire complementary businesses and dispose of non-complementary businesses. If we fail to develop and integrate any acquired business or dispose of any businesses effectively, our earnings may be adversely affected. In addition, our management team will need to devote substantial time and attention to the acquisition and integration of the acquired businesses, which could distract them from their other duties and responsibilities. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | • | Regulatory environment.  We cannot anticipate the impact of changes in laws and regulations, including changes in accounting standards, taxation requirements, including tax rate changes, new tax laws and revised tax law interpretations, and environmental laws, in both domestic and foreign jurisdictions. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Our financial position, cash flow or results may be adversely affected by the threat of terrorism and related political instability and economic uncertainty.  The threat of potential terrorist attacks on the United States and throughout the world and political instability has created an atmosphere of economic uncertainty in the United States and in foreign markets. Our results may be impacted by the macroeconomic effects of those events. Also, a disruption in our supply chain as a result of terrorist attacks or the threat thereof may significantly affect our business and its prospects. In addition, such events may also result in heightened domestic security and higher costs for importing and exporting shipments of components and finished goods. Any of these occurrences may have a material adverse effect on our financial position, cash flow or results in any reporting period. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | We may in the future be required to include the financial position of our WMC subsidiary in our consolidated financial statements. The Financial Accounting Standards Board has issued accounting guidance regarding variable interest entities (“VIEs”) that affects the accounting treatment of one of our subsidiaries, WMC. To ascertain if we are required to consolidate this subsidiary, we determine whether it is a VIE and if we are the primary beneficiary in accordance with the accounting guidance, as discussed further in this Annual Report on Form 10-K. Changes in the financial accounting guidance, or changes in circumstances at this subsidiary, could lead us to determine that we have to consolidate the financial position of such entity in the future. This could have a material adverse impact on our financial position. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Liabilities of WMC.  WMC has liabilities on its balance sheet that are not reflected in our consolidated financial statements.  While we believe that neither P&F nor any of its subsidiaries other than WMC are legally responsible for any such liabilities, there can be no assurance that one or more creditors of WMC will not institute legal action against P&F or any of its subsidiaries other than WMC, which could result in a material adverse impact on our financial position. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Unforeseen events.  We cannot anticipate the impact of unforeseen events, including but not limited to war and pandemic disease, on economic conditions and consumer confidence in our business. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 2010           |   | High   |   |   | Low    |   |
|----------------|--------|--------|--------|--------|--------|--------|
| First Quarter  |   | $      | 2.79   |   |   | $      | 2.51 |   |
| Second Quarter |   |   | 2.63   |   |   |   | 2.00 |   |
| Third Quarter  |   |   | 2.19   |   |   |   | 1.52 |   |
| Fourth Quarter |   |   | 3.64   |   |   |   | 1.76 |   |

| 2009           |   | High   |   |   | Low    |   |
|----------------|--------|--------|--------|--------|--------|--------|
| First Quarter  |   | $      | 1.40   |   |   | $      | 0.71 |   |
| Second Quarter |   |   | 2.21   |   |   |   | 0.95 |   |
| Third Quarter  |   |   | 2.25   |   |   |   | 1.44 |   |
| Fourth Quarter |   |   | 3.20   |   |   |   | 2.15 |   |

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|              |   | Year Ended December 31, |       |   |   |   |       |     |   |
|-------------------|--------|-------------------------|------------|--------|--------|--------|------------|----------|--------|
|              |   | 2010                    |       |   | 2009   |   |       | Variance |   |   | Variance |   |
| Tools             |   |                    |       |   |   |   |       |     |   |   |   |   |
| Florida Pneumatic |   | $                       | 22,467,000 |   |   | $      | 23,819,000 |     |   | $ | (1,352,000 | ) |   |   | (5.7 | )% |
| Hy-Tech           |   |                    | 14,011,000 |   |   |   | 13,997,000 |     |   |   | 14,000 |   |   |   | 0.1 |   |
| Tools Total       |   |                    | 36,478,000 |   |   |   | 37,816,000 |     |   |   | (1,338,000 | ) |   |   | (3.5 | ) |
| Hardware          |   |                    |       |   |   |   |       |     |   |   |   |   |   |   |   |   |
| Nationwide        |   |                    | 14,131,000 |   |   |   | 13,341,000 |     |   |   | 790,000 |   |   |   | 5.9 |   |
| Hardware Total    |   |                    | 14,131,000 |   |   |   | 13,341,000 |     |   |   | 790,000 |   |   |   | 5.9 |   |
| Consolidated      |   | $                       | 50,609,000 |   |   | $      | 51,157,000 |     |   | $ | (548,000 | ) |   |   | (1.1 | )% |

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|                    |   | Year ended December 31, |       |   |   |   |       |     |   |
|-------------------------|--------|-------------------------|------------|--------|--------|--------|------------|----------|--------|
|                    |   | 2010                    |       |   | 2009   |   |       | Variance |   |   | Variance |   |
|                    |   |                    |       |   |   |   |       | $        |   |   | % |   |
| Nationwide revenue      |   |                    |       |   |   |   |       |     |   |   |   |   |
| Fence and gate hardware |   | $                       | 8,603,000  |   |   | $      | 7,180,000  |     |   | $ | 1,423,000 |   |   |   | 19.8 | % |
| Kitchen and Bath        |   |                    | 2,775,000  |   |   |   | 2,962,000  |     |   |   | (187,000 | ) |   |   | (6.3 | ) |
| OEM                     |   |                    | 1,869,000  |   |   |   | 2,427,000  |     |   |   | (558,000 | ) |   |   | (23.0 | ) |
| Patio                   |   |                    | 884,000    |   |   |   | 772,000    |     |   |   | 112,000 |   |   |   | 14.5 |   |
| Total                   |   | $                       | 14,131,000 |   |   | $      | 13,341,000 |     |   | $ | 790,000 |   |   |   | 5.9 | % |

|                             |   | Year Ended December 31, |       |   | Change |   |
|----------------------------------|--------|-------------------------|------------|--------|--------|--------|
|                             |   | 2010                    |       |   | 2009   |   |   | Amount |   |   | % |   |
| Tools                            |   | $                       | 12,371,000 |   |   | $      | 11,423,000 |   |   | $ | 948,000 |   |   |   | 8.3 | % |
| As percent of respective revenue |   |                    | 33.9       | %      |   |   | 30.2 | % |   | 3.7 pts. |   |   |   |   |   |
| Hardware                         |   | $                       | 5,264,000  |   |   | $      | 4,278,000 |   |   | $ | 986,000 |   |   |   | 23.0 | % |
| As percent of respective revenue |   |                    | 37.3       | %      |   |   | 32.1 | % |   | 5.2 pts. |   |   |   |   |   |
| Consolidated                     |   | $                       | 17,635,000 |   |   | $      | 15,701,000 |   |   | $ | 1,934,000 |   |   |   | 12.3 | % |
| As percent of respective revenue |   |                    | 34.8       | %      |   |   | 30.7 | % |   | 4.1 pts. |   |   |   |   |   |

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|                       |   | December 31, |   |
|----------------------------|--------|--------------|--------|
|                       |   | 2010         |   |   | 2009 |   |
| Working capital            |   | $            | 11,746 |   |   | $ | 8,420 |   |
| Current ratio              |   | 1.77 to 1    |   |   | 1.24 to 1 |   |
| Shareholders’ equity |   | $            | 26,399 |   |   | $ | 25,615 |   |

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| Mortgage loan—Wachovia Bank (Florida Pneumatic)    |   | $      | 630,000 |   |
|----------------------------------------------------------|--------|--------|---------|--------|
| Mortgage loan—Wachovia Bank (Countrywide)          |   |   | 875,000 |   |
| Note payable to former owners of Hy-Tech Machine, Inc. 1 |   |   | 685,000 |   |
| Capital Lease Obligations                                |   |   | 171,000 |   |

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|                                                                                                 | Page |
|------------------------------------------------------------------------------------------------------|------|
| Report of Independent Registered Public Accounting Firm                                              | 17   |
| Consolidated Balance Sheets as of December 31, 2010 and 2009                                         | 18   |
| Consolidated Statements of Operations for the years ended December 31, 2010 and 2009                 | 20   |
| Consolidated Statements of Shareholders’ Equity for the years ended December 31, 2010 and 2009 | 21   |
| Consolidated Statements of Cash Flows for the years ended December 31, 2010 and 2009                 | 22   |
| Notes to Consolidated Financial Statements                                                           | 24   |

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|                                           |   | December 31, 2010 |       |   | December 31, 2009 |   |
|------------------------------------------------|--------|-------------------|------------|--------|-------------------|--------|
|                                           |   | (Audited)         |       |   | (See Note 1)      |   |
| ASSETS                                         |   |              |       |   |              |   |
| CURRENT ASSETS                                 |   |              |       |   |              |   |
|                                           |   |              |       |   |              |   |
| Cash                                           |   | $                 | 874,000    |   |              | $      | 546,000 |   |
| Accounts receivable — net                |   |              | 6,986,000  |   |              |   | 7,545,000 |   |
| Inventories – net                        |   |              | 18,430,000 |   |              |   | 19,746,000 |   |
| Deferred income taxes — net              |   |              | 233,000    |   |              |   | 670,000 |   |
| Income tax refund receivable                   |   |              | -          |   |              |   | 3,270,000 |   |
| Prepaid expenses and other current assets      |   |              | 417,000    |   |              |   | 279,000 |   |
| Current assets of discontinued operations      |   |              | 23,000     |   |              |   | 10,797,000 |   |
| TOTAL CURRENT ASSETS                           |   |              | 26,963,000 |   |              |   | 42,853,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| PROPERTY AND EQUIPMENT                         |   |              |       |   |              |   |   |   |
| Land                                           |   |              | 1,550,000  |   |              |   | 1,550,000 |   |
| Buildings and improvements                     |   |              | 7,480,000  |   |              |   | 7,476,000 |   |
| Machinery and equipment                        |   |              | 16,340,000 |   |              |   | 16,130,000 |   |
|                                           |   |              | 25,370,000 |   |              |   | 25,156,000 |   |
| Less accumulated depreciation and amortization |   |              | 13,599,000 |   |              |   | 11,990,000 |   |
| NET PROPERTY AND EQUIPMENT                     |   |              | 11,771,000 |   |              |   | 13,166,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| GOODWILL                                       |   |              | 5,150,000  |   |              |   | 5,150,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| OTHER INTANGIBLE ASSETS — net            |   |              | 2,300,000  |   |              |   | 2,651,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| DEFERRED INCOME TAXES — net              |   |              | 1,874,000  |   |              |   | 1,437,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| LONG-TERM ASSETS OF DISCONTINUED OPERATIONS    |   |              | —    |   |              |   | 3,924,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| OTHER ASSETS — net                       |   |              | 837,000    |   |              |   | 237,000 |   |
|                                           |   |              |       |   |              |   |   |   |
| TOTAL ASSETS                                   |   | $                 | 48,895,000 |   |              | $      | 69,418,000 |   |

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|                                                                                              |   | December 31, 2010 |       |   | December 31, 2009 |   |
|---------------------------------------------------------------------------------------------------|--------|-------------------|------------|--------|-------------------|--------|
|                                                                                              |   | (Audited)         |       |   | (See Note 1)      |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                        |   |              |       |   |              |   |
| CURRENT LIABILITIES                                                                               |   |              |       |   |              |   |
|                                                                                              |   |              |       |   |              |   |
| Short-term borrowings                                                                             |   | $                 | 9,996,000  |   |              | $      | 16,300,000 |   |
| Accounts payable                                                                                  |   |              | 1,673,000  |   |              |   | 1,396,000 |   |
| Other accrued liabilities                                                                         |   |              | 3,115,000  |   |              |   | 2,003,000 |   |
| Current liabilities of discontinued operations                                                    |   |              | 27,000     |   |              |   | 9,719,000 |   |
| Current maturities of long-term debt                                                              |   |              | 406,000    |   |              |   | 5,015,000 |   |
| TOTAL CURRENT LIABILITIES                                                                         |   |              | 15,217,000 |   |              |   | 34,433,000 |   |
|                                                                                              |   |              |       |   |              |   |   |   |
| Long–term debt, less current maturities                                                     |   |              | 6,973,000  |   |              |   | 4,148,000 |   |
| Long-term liabilities of discontinued operations                                                  |   |              | 306,000    |   |              |   | 5,222,000 |   |
|                                                                                              |   |              |       |   |              |   |   |   |
| TOTAL LIABILITIES                                                                                 |   |              | 22,496,000 |   |              |   | 43,803,000 |   |
|                                                                                              |   |              |       |   |              |   |   |   |
| COMMITMENTS AND CONTINGENCIES                                                                     |   |              |       |   |              |   |   |   |
|                                                                                              |   |              |       |   |              |   |   |   |
| SHAREHOLDERS’ EQUITY                                                                        |   |              |       |   |              |   |   |   |
| Preferred stock - $10 par; authorized - 2,000,000 shares; no shares issued                        |   |              | —    |   |              |   | — |   |
| Common stock                                                                                      |   |              |       |   |              |   |   |   |
| Class A - $1 par; authorized - 7,000,000 shares; issued - 3,956,000 at December 31, 2010 and 2009 |   |              | 3,956,000  |   |              |   | 3,956,000 |   |
| Class B - $1 par; authorized - 2,000,000 shares; no shares issued                                 |   |              | —    |   |              |   | — |   |
| Additional paid-in capital                                                                        |   |              | 10,718,000 |   |              |   | 10,615,000 |   |
| Retained earnings                                                                                 |   |              | 14,680,000 |   |              |   | 13,999,000 |   |
| Treasury stock, at cost – 342,000 shares at December 31, 2010 and 2009                      |   |              | (2,955,000 | )      |              |   | (2,955,000 | ) |
|                                                                                              |   |              |       |   |              |   |   |   |
| TOTAL SHAREHOLDERS’ EQUITY                                                                  |   |              | 26,399,000 |   |              |   | 25,615,000 |   |
|                                                                                              |   |              |       |   |              |   |   |   |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                                                  |   | $                 | 48,895,000 |   |              | $      | 69,418,000 |   |

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|                                                                                                                                |   | Years ended December 31, |       |
|-------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|------------|
|                                                                                                                                |   | 2010                     |       |   | 2009 |   |
| Net revenue                                                                                                                         |   | $                        | 50,609,000 |   |   | $ | 51,157,000 |   |
| Cost of sales                                                                                                                       |   |                     | 32,974,000 |   |   |   | 35,456,000 |   |
| Gross profit                                                                                                                        |   |                     | 17,635,000 |   |   |   | 15,701,000 |   |
| Selling, general and administrative expenses                                                                                        |   |                     | 16,016,000 |   |   |   | 15,799,000 |   |
| Operating income (loss)                                                                                                             |   |                     | 1,619,000  |   |   |   | (98,000 | ) |
| Interest expense                                                                                                                    |   |                     | 1,243,000  |   |   |   | 1,342,000 |   |
| Income (loss) from continuing operations before income taxes                                                                        |   |                     | 376,000    |   |   |   | (1,440,000 | ) |
| Income tax expense (benefit)                                                                                                        |   |                     | 35,000     |   |   |   | (245,000 | ) |
| Income (loss) from continuing operations                                                                                            |   |                     | 341,000    |   |   |   | (1,195,000 | ) |
|                                                                                                                                |   |                     |       |   |   |   |   |   |
| Income (loss) from discontinued operations (net of tax expense of $0 and $1,394,000 for the years ended December 31, 2010 and 2009) |   |                     | 340,000    |   |   |   | (7,265,000 | ) |
|                                                                                                                                |   |                     |       |   |   |   |   |   |
| Net income (loss)                                                                                                                   |   | $                        | 681,000    |   |   | $ | (8,460,000 | ) |
|                                                                                                                                |   |                     |       |   |   |   |   |   |
| Basic earnings (loss) per share                                                                                                     |   |                     |       |   |   |   |   |   |
| Continuing operations                                                                                                               |   | $                        | 0.10       |   |   | $ | (0.33 | ) |
| Discontinued operations                                                                                                             |   |                     | 0.09       |   |   |   | (2.01 | ) |
| Net income (loss)                                                                                                                   |   | $                        | 0.19       |   |   | $ | (2.34 | ) |
|                                                                                                                                |   |                     |       |   |   |   |   |   |
| Diluted earnings (loss) per share                                                                                                   |   |                     |       |   |   |   |   |   |
| Continuing operations                                                                                                               |   | $                        | 0.10       |   |   | $ | (0.33 | ) |
| Discontinued operations                                                                                                             |   |                     | 0.09       |   |   |   | (2.01 | ) |
| Net income (loss)                                                                                                                   |   | $                        | 0.19       |   |   | $ | (2.34 | ) |
|                                                                                                                                |   |                     |       |   |   |   |   |   |
| Weighted average common shares outstanding:                                                                                         |   |                     |       |   |   |   |   |   |
| Basic                                                                                                                               |   |                     | 3,615,000  |   |   |   | 3,615,000 |   |
|                                                                                                                                |   |                     |       |   |   |   |   |   |
| Diluted                                                                                                                             |   |                     | 3,634,000  |   |   |   | 3,615,000 |   |

----

|                       |   |   |       |   | Class A CommonStock, $1 Par |   |      | Additionalpaid-in |   |   | Retained   |   |   | Treasury stock |       |
|----------------------------|--------|--------|------------|--------|-----------------------------|--------|-----------|-------------------|--------|--------|------------|--------|--------|----------------|------------|
|                       |   | Total  |       |   | Shares                      |   |      | Amount            |   |   | capital    |   |   | earnings       |       |   | Shares |   |   | Amount |   |
|                       |   |   |       |   |                        |   |      |              |   |   |       |   |   |           |       |   |   |   |   |   |   |
| Balance, January 1, 2009   |   | $      | 33,867,000 |   |                        |   | 3,956,000 |              |   | $      | 3,956,000  |   |   | $              | 10,407,000 |   |   | $ | 22,459,000 |   |   |   | (342,000 | ) |   | $ | (2,955,000 | ) |
|                       |   |   |       |   |                        |   |      |              |   |   |       |   |   |           |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                   |   |   | (8,460,000 | )      |                        |   |      |              |   |   |       |   |   |           |       |   |   |   | (8,460,000 | ) |   |   |   |   |   |   |   |   |
| Stock-based compensation   |   |   | 208,000    |   |                        |   |      |              |   |   |       |   |   |           | 208,000    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |   |       |   |                        |   |      |              |   |   |       |   |   |           |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31, 2009 |   |   | 25,615,000 |   |                        |   | 3,956,000 |              |   |   | 3,956,000  |   |   |           | 10,615,000 |   |   |   | 13,999,000 |   |   |   | (342,000 | ) |   |   | (2,955,000 | ) |
|                       |   |   |       |   |                        |   |      |              |   |   |       |   |   |           |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                 |   |   | 681,000    |   |                        |   |      |              |   |   |       |   |   |           |       |   |   |   | 681,000 |   |   |   |   |   |   |   |   |   |
| Stock-based compensation   |   |   | 103,000    |   |                        |   |      |              |   |   |       |   |   |           | 103,000    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       |   |   |       |   |                        |   |      |              |   |   |       |   |   |           |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31, 2010 |   | $      | 26,399,000 |   |                        |   | 3,956,000 |              |   | $      | $3,956,000 |   |   | $              | 10,718,000 |   |   | $ | 14,680,000 |   |   |   | (342,000 | ) |   | $ | (2,955,000 | ) |

----

|                                                                                                              |   | Years ended December 31, |      |
|-------------------------------------------------------------------------------------------------------------------|--------|--------------------------|-----------|
|                                                                                                              |   | 2010                     |      |   | 2009 |   |
| Cash Flows from Operating Activities                                                                              |   |                     |      |   |   |   |
| Net income (loss)                                                                                                 |   | $                        | 681,000   |   |   | $ | (8,460,000 | ) |
|                                                                                                              |   |                     |      |   |   |   |   |   |
| Adjustments to reconcile net (income) loss to net cash provided by operating activities of continuing operations: |   |                     |      |   |   |   |   |   |
| (Income) loss from discontinued operations                                                                        |   |                     | (340,000  | ) |   |   | 7,265,000 |   |
| Non-cash charges:                                                                                                 |   |                     |      |   |   |   |   |   |
| Depreciation and amortization                                                                                     |   |                     | 1,635,000 |   |   |   | 1,572,000 |   |
| Amortization of other intangible assets                                                                           |   |                     | 351,000   |   |   |   | 351,000 |   |
| Amortization of other assets                                                                                      |   |                     | 210,000   |   |   |   | 56,000 |   |
| Provision for losses on accounts receivable                                                                       |   |                     | 76,000    |   |   |   | (161,000 | ) |
| Stock-based compensation                                                                                          |   |                     | 103,000   |   |   |   | 208,000 |   |
| Deferred income taxes - net                                                                                       |   |                     | —   |   |   |   | 4,901,000 |   |
| Gain on sale of fixed assets                                                                                      |   |                     | (3,000    | ) |   |   | (2,000 | ) |
| Changes in operating assets and liabilities:                                                                      |   |                     |      |   |   |   |   |   |
| Accounts receivable                                                                                               |   |                     | 483,000   |   |   |   | (80,000 | ) |
| Notes and other receivables                                                                                       |   |                     | 41,000    |   |   |   | (42,000 | ) |
| Inventories                                                                                                       |   |                     | 1,316,000 |   |   |   | 6,659,000 |   |
| Income tax refund receivable                                                                                      |   |                     | 3,270,000 |   |   |   | (2,943,000 | ) |
| Prepaid expenses and other current assets                                                                         |   |                     | (179,000  | )  |   |   | 460,000 |   |
| Other assets                                                                                                      |   |                     | 6,000     |   |   |   | 176,000 |   |
| Accounts payable                                                                                                  |   |                     | 277,000   |   |   |   | (506,000 | ) |
| Income taxes payable                                                                                              |   |                     | 243,000   |   |   |   | — |   |
| Accrued liabilities                                                                                               |   |                     | 869,000   |   |   |   | (1,250,000 | ) |
| Total adjustments                                                                                                 |   |                     | 8,358,000 |   |   |   | 16,664,000 |   |
| Net cash provided by operating activities of continuing operations                                                |   |                     | 9,039,000 |   |   |   | 8,204,000 |   |

----

|                                               |   | Years ended December 31, |      |
|----------------------------------------------------|--------|--------------------------|-----------|
|                                               |   | 2010                     |      | 2009 |   |
| Cash Flows from Investing Activities:              |   |                     |      |   |   |
| Capital expenditures                               |   | $                        | (244,000  | ) | $ | (1,668,000 | ) |
| Proceeds from sale of fixed assets                 |   | 7,000                    |      | 3,000 |   |
| Additional purchase price – Hy-Tech          |   | —                  |      | (1,216,000 | ) |
| Net cash used in investing activities              |   | (237,000                 | )         | (2,881,000 | ) |
|                                               |   |                     |      |   |   |
| Cash Flows from Financing Activities:              |   |                     |      |   |   |
| Proceeds from short-term borrowings                |   | 15,750,000               |      | 13,864,000 |   |
| Repayments of short-term borrowings                |   | (22,054,000              | )         | (12,564,000 | ) |
| Term loan advances                                 |   | 7,047,000                |      | — |   |
| Repayments of term loan                            |   | (6,773,000               | )         | (7,778,000 | ) |
| Repayments of mortgages                            |   | (1,463,000               | )         | — |   |
| Net proceeds from equipment lease financing        |   | —                  |      | 642,000 |   |
| Principal payments on long-term debt               |   | (336,000                 | )         | (185,000 | ) |
| Proceeds from notes payable                        |   | 750,000                  |      | — |   |
| Repayments on notes payable                        |   | (573,000                 | )         | — |   |
| Payments on capital lease financings               |   | (436,000                 | )         | (206,000 | ) |
| Bank financing costs                               |   | (816,000                 | )         | — |   |
| Net cash used in financing activities              |   | (8,904,000               | )         | (6,227,000 | ) |
|                                               |   |                     |      |   |   |
| Cash Flows from Discontinued Operations:           |   |                     |      |   |   |
| Operating activities                               |   | 2,748,000                |      | (2,600,000 | ) |
| Investing activities                               |   | (1,735,000               | )         | (7,725,000 | ) |
| Financing activities                               |   | (583,000                 | )         | 10,930,000 |   |
| Net cash provided by Discontinued Operations       |   | 430,000                  |      | 605,000 |   |
|                                               |   |                     |      |   |   |
| Net increase (decrease) in cash                    |   | 328,000                  |      | (299,000 | ) |
| Cash at beginning of year                          |   | 546,000                  |      | 845,000 |   |
| Cash at end of year                                |   | $                        | 874,000   |   | $ | 546,000 |   |
|                                               |   |                     |      |   |   |
| Supplemental disclosures of cash flow information: |   |                     |      |   |   |
|                                               |   |                     |      |   |   |
| Cash paid for:                                     |   |                     |      |   |   |
| Interest                                           |   | $                        | 1,263,000 |   | $ | 1,315,000 |   |
| Income taxes                                       |   | $                        | 31,000    |   | $ | 30,000 |   |

----

----

----

----

----

|                                                                                                                  |   | Years Ended December 31, |      |
|-----------------------------------------------------------------------------------------------------------------------|--------|--------------------------|-----------|
|                                                                                                                  |   | 2010                     |      |   | 2009 |   |
| Numerator:                                                                                                            |   |                     |      |   |   |   |
| Numerator for basic and diluted loss per common share:                                                                |   |                     |      |   |   |   |
| Net income (loss) from continuing operations                                                                          |   | $                        | 341,000   |   |   | $ | (1,195,000 | ) |
| Net income (loss) from discontinued operations                                                                        |   |                     | 340,000   |   |   |   | (7,265,000 | ) |
| Net income (loss)                                                                                                     |   | $                        | 681,000   |   |   | $ | (8,460,000 | ) |
| Denominator:                                                                                                          |   |                     |      |   |   |   |   |   |
| Denominator for basic income (loss) per share—weighted average common shares outstanding                        |   |                     | 3,615,000 |   |   |   | 3,615,000 |   |
| Effect of dilutive securities:                                                                                        |   |                     |      |   |   |   |   |   |
| Stock options                                                                                                         |   |                     | 19,000    |   |   |   | — |   |
| Denominator for diluted income (loss) per share—adjusted weighted average common shares and assumed conversions |   |                     | 3,634,000 |   |   |   | 3,615,000 |   |

----

----

----

| Cash paid at closing            |   | $      | 4,528,000  |   |
|---------------------------------|--------|--------|------------|--------|
| Notes payable                   |   |   | 3,972,000  |   |
| Liabilities assumed             |   |   | 2,788,000  |   |
| Future contingent consideration |   |   | 4,586,000  |   |
| Total                           |   | $      | 15,874,000 |   |

| Accounts receivable                     |   |   |      |   | $      | 1,251,000 |       |
|-----------------------------------------|--------|--------|-----------|--------|--------|-----------|------------|
| Inventories                             |   |   |      |   |   | 6,677,000 |       |
| Other current assets                    |   |   |      |   |   | 403,000   |       |
| Property and equipment                  |   |   |      |   |   | 2,411,000 |       |
| Other non-current assets                |   |   |      |   |   | 485,000   |       |
| Identifiable intangible assets:         |   |   |      |   |   |      |       |
| Customer relationships                  |   | $      | 1,250,000 |   |   |      |       |   |
| Trademark                               |   |   | 1,622,000 |   |   |      | 2,872,000  |   |
|                                    |   |   |      |   |   |      | 14,099,000 |   |
| Less: Deferred tax liability            |   |   |      |   |   |      | 652,000    |   |
| Total fair value of net assets acquired |   |   |      |   |   |      | 13,447,000 |   |
| Goodwill                                |   |   |      |   |   |      | 2,427,000  |   |
| Total purchase price                    |   |   |      |   |   | $         | 15,874,000 |   |

|                   | EstimatedUseful Life |
|------------------------|----------------------|
| Trademark              | Indefinite           |
| Customer Relationships | 16 years             |

----

|                            |   | Year ended December 31, |        |
|---------------------------------|--------|-------------------------|-------------|
|                            |   | 2009                    |        |
| Net revenue                     |   | $                       | 80,184,000  |   |
| Net loss                        |   | $                       | (10,766,000 | ) |
| Loss per share of common stock: |   |                    |        |   |
| Basic and diluted               |   | $                       | (2.98       | ) |

----

|                                                                                             |   | December 31,2010 |    |   | December 31, 2009 |   |
|--------------------------------------------------------------------------------------------------|--------|------------------|---------|--------|-------------------|--------|
|                                                                                             |   |             |    |   |              |   |
| Cash                                                                                             |   | $                | -       |   |              | $      | 53,000 |   |
| Accounts receivable, net                                                                         |   |             | -       |   |              |   | 2,124,000 |   |
| Inventory, net                                                                                   |   |             | -       |   |              |   | 7,919,000 |   |
| Other current assets                                                                             |   |             | 23,000  |   |              |   | 701,000 |   |
| Total current assets of discontinued operations                                                  |   | $                | 23,000  |   |              | $      | 10,797,000 |   |
|                                                                                             |   |             |    |   |              |   |   |   |
| Machinery and equipment, net                                                                     |   | $                | -       |   |              | $      | 2,439,000 |   |
| Other                                                                                            |   |             | -       |   |              |   | 1,485,000 |   |
| Total non-current assets of discontinued operations                                              |   | $                | -       |   |              | $      | 3,924,000 |   |
|                                                                                             |   |             |    |   |              |   |   |   |
| Short-term borrowings                                                                            |   |             | -       |   |              | $      | 4,382,000 |   |
| Accounts payable and accrued expenses                                                            |   |             | 27,000  |   |              |   | 4,251,000 |   |
| Current maturities of long-term debt                                                             |   |             | -       |   |              |   | 1,086,000 |   |
| Total liabilities reclassified to current liabilities of discontinued operations                 |   | $                | 27,000  |   |              | $      | 9,719,000 |   |
|                                                                                             |   |             |    |   |              |   |   |   |
| Other long-term liabilities                                                                      |   | $                | 306,000 |   |              | $      | 319,000 |   |
| Long-term debt, less current portion                                                             |   |             | -       |   |              |   | 4,903,000 |   |
| Total non-current liabilities reclassified to non-current liabilities of discontinued operations |   | $                | 306,000 |   |              | $      | 5,222,000 |   |

----

|                                                                   |   | For the Years Ended December 31, |        |
|------------------------------------------------------------------------|--------|----------------------------------|-------------|
|                                                                   |   | 2010                             |        |   | 2009 |   |
|                                                                   |   |                             |        |   |   |   |
| Revenue                                                                |   | $                                | 10,136,000  |   |   | $ | 21,427,000 |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Gross profit                                                           |   | $                                | 900,000     |   |   | $ | 2,412,000 |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Selling, general and administrative expenses and interest expense      |   |                             | 3,130,000   |   |   |   | 6,852,000 |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Loss on foreclosure and other expenses                                 |   |                             | 5,240,000   |   |   |   | — |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Termination of lease                                                   |   |                             | 4,280,000   |   |   |   | — |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Impairment charges                                                     |   |                             | —     |   |   |   | 5,549,000 |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Income resulting from change in fair value of contingent consideration |   |                             | —     |   |   |   | (4,118,000 | ) |
|                                                                   |   |                             |        |   |   |   |   |   |
| Loss before income taxes                                               |   |                             | (11,750,000 | ) |   |   | (5,871,000 | ) |
|                                                                   |   |                             |        |   |   |   |   |   |
| Income tax expense                                                     |   |                             | —     |   |   |   | 1,394,000 |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Loss from discontinued operations                                      |   |                             | (11,750,000 | ) |   |   | (7,265,000 | ) |
|                                                                   |   |                             |        |   |   |   |   |   |
| Gain resulting from deconsolidation of WMC                             |   |                             | 12,090,000  |   |   |   | — |   |
|                                                                   |   |                             |        |   |   |   |   |   |
| Net income (loss) from discontinued operations                         |   | $                                | 340,000     |   |   | $ | (7,265,000 | ) |

|                            |   | December 31, 2010 |      |   | December 31, 2009 |   |
|---------------------------------|--------|-------------------|-----------|--------|-------------------|--------|
| Accounts receivable             |   | $                 | 7,211,000 |   |              | $      | 7,694,000 |   |
| Allowance for doubtful accounts |   |              | (225,000  | )      |              |   | (149,000 | ) |
|                            |   | $                 | 6,986,000 |   |              | $      | 7,545,000 |   |

|                                             |   | December 31, 2010 |       |   | December 31, 2009 |   |
|--------------------------------------------------|--------|-------------------|------------|--------|-------------------|--------|
| Raw material                                     |   | $                 | 1,932,000  |   |              | $      | 2,086,000 |   |
| Work in process                                  |   |              | 561,000    |   |              |   | 680,000 |   |
| Finished goods                                   |   |              | 17,302,000 |   |              |   | 18,532,000 |   |
|                                             |   |              | 19,795,000 |   |              |   | 21,298,000 |   |
| Reserve for obsolete and slow-moving inventories |   |              | (1,365,000 | )      |              |   | (1,552,000 | ) |
|                                             |   | $                 | 18,430,000 |   |              | $      | 19,746,000 |   |

----

|                                |   | Consolidated |      |   | Tools  |   |      | Hardware |   |
|-------------------------------------|--------|--------------|-----------|--------|--------|--------|-----------|----------|--------|
|                                |   |         |      |   |   |   |      |     |   |
| Balance, January 1, 2009            |   | $            | 2,440,000 |   |   | $      | 916,000   |     |   | $ | 1,524,000 |   |
| Goodwill acquired during 2009       |   |         | 2,710,000 |   |   |   | 2,361,000 |     |   |   | 349,000 |   |
| Balance, December 31, 2009 and 2010 |   | $            | 5,150,000 |   |   | $      | 3,277,000 |     |   | $ | 1,873,000 |   |

|                                  |   | December 31, 2010 |      |   | December 31, 2009       |   |
|---------------------------------------|--------|-------------------|-----------|--------|-------------------------|--------|
|                                  |   | Cost              |      |   | Accumulatedamortization |   |   | Net bookvalue |   |   | Cost |   |   | Accumulatedamortization |   |   | Net bookvalue |   |
| Other intangible assets:              |   |              |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Customer relationships                |   | $                 | 5,070,000 |   |                    | $      | 3,255,000 |   |   | $ | 1,815,000 |   |   | $ | 5,070,000 |   |   | $ | 2,930,000 |   |   | $ | 2,140,000 |   |
| Non-compete and employment agreements |   |              | 760,000   |   |                    |   | 760,000 |   |   |   | — |   |   |   | 760,000 |   |   |   | 760,000 |   |   |   | — |   |
| Trademarks                            |   |              | 199,000   |   |                    |   | — |   |   |   | 199,000 |   |   |   | 199,000 |   |   |   | — |   |   |   | 199,000 |   |
| Drawings                              |   |              | 290,000   |   |                    |   | 56,000 |   |   |   | 234,000 |   |   |   | 290,000 |   |   |   | 41,000 |   |   |   | 249,000 |   |
| Licensing                             |   |              | 105,000   |   |                    |   | 53,000 |   |   |   | 52,000 |   |   |   | 105,000 |   |   |   | 42,000 |   |   |   | 63,000 |   |
| Totals                                |   | $                 | 6,424,000 |   |                    | $      | 4,124,000 |   |   | $ | 2,300,000 |   |   | $ | 6,424,000 |   |   | $ | 3,773,000 |   |   | $ | 2,651,000 |   |

|                                                             |   | Years Ended December 31, |     |
|------------------------------------------------------------------|--------|--------------------------|----------|
|                                                             |   | 2010                     |     |   | 2009 |   |
| Balance, beginning of year                                       |   | $                        | 183,000  |   |   | $ | 337,000 |   |
| Warranties issued and changes in estimated pre-existing incurred |   |                     | 334,000  |   |   |   | 464,000 |   |
| Actual warranty costs incurred                                   |   |                     | (267,000 | ) |   |   | (618,000 | ) |
| Balance, end of year                                             |   | $                        | 250,000  |   |   | $ | 183,000 |   |

----

----

| Risk-free interest rate                        | 3.17%                       |
|------------------------------------------------|-----------------------------|
| Expected term (in years)                       | Ranging from 6.5 to 10.     |
| Volatility                                     | Ranging from 50.7% to 59.5% |
| Dividend yield                                 | 0%                          |
| Weighted-average fair value of options granted | $1.84                       |

|                           |   | NumberofShares |    |   | Weighted AverageExercise Priceper share |   |   | AggregateIntrinsicValue |   |
|--------------------------------|--------|----------------|---------|--------|-----------------------------------------|--------|--------|-------------------------|--------|
| Outstanding, January 1, 2009   |   |           | 553,936 |   |                                    | $      | 7.38   |                    |   |   |   |
| Expired                        |   |           | (39,312 | )      |                                    |   | 8.91   |                    |   |   |   |
| Outstanding, December 31, 2009 |   |           | 514,624 |   |                                    |   | 7.26   |                    |   |   |   |
| Granted                        |   |           | 72,000  |   |                                    |   | 3.03   |                    |   |   |   |
| Expired                        |   |           | (1,000  | )      |                                    |   | 11.20  |                    |   |   |   |
| Outstanding, December 31, 2010 |   |           | 585,624 |   |                                    | $      | 6.73   |                    |   | $ | 44,000 |   |
| Vested, December 31, 2010      |   |           | 420,291 |   |                                    | $      | 7.93   |                    |   | $ | 3,000 |   |

----

|                                 |   | December 31, |    |
|--------------------------------------|--------|--------------|---------|
|                                 |   | 2010         |    |   | 2009 |   |
|                                 |   | OptionShares |    |   | WeightedAverageGrant-DateFair Value |   |   | OptionShares |   |   | WeightedAverageGrant-DateFair Value |   |
| Non-vested shares, beginning of year |   |         | 147,667 |   |   | $ | 2.85 |   |   |   | 212,406 |   |   | $ | 3.02 |   |
| Granted                              |   |         | 70,000  |   |   |   | 1.85 |   |   |   | — |   |   |   | — |   |
| Vested                               |   |         | (52,334 | ) |   |   | 3.61 |   |   |   | (64,739 | ) |   |   | 3.39 |   |
| Forfeited                            |   |         | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Non-vested shares, end of year       |   |         | 165,333 |   |   | $ | 2.19 |   |   |   | 147,667 |   |   | $ | 2.85 |   |

|                     |   | Options outstanding |    |   | Options Exercisable                              |   |
|--------------------------|--------|---------------------|---------|--------|--------------------------------------------------|--------|
| Range of Exercise Prices |   | Numberoutstanding   |    |   | Weighted AverageRemainingContractualLife (Years) |   |   | WeightedAverageExercise Price |   |   | Numberexercisable |   |   | WeightedAverageLife |   |   | WeightedAverageExercise Price |   |
| $6.00                    |   |                | 109,436 |   |                                             |   | 1.5 |   |   | $ | 6.00 |   |   |   | 109,436 |   |   |   | 1.5 |   |   | $ | 6.00 |   |
| $7.90  - $8.06 |   |                | 115,688 |   |                                             |   | 3.5 |   |   | $ | 8.05 |   |   |   | 115,688 |   |   |   | 3.5 |   |   | $ | 8.05 |   |
| $14.44 - $16.68          |   |                | 24,500  |   |                                             |   | 4.5 |   |   | $ | 16.50 |   |   |   | 24,500 |   |   |   | 4.5 |   |   | $ | 16.50 |   |
| $11.20 - $11.38          |   |                | 90,000  |   |                                             |   | 6.5 |   |   | $ | 11.20 |   |   |   | 90,000 |   |   |   | 6.5 |   |   | $ | 11.20 |   |
| $4.16                    |   |                | 174,000 |   |                                             |   | 7.5 |   |   | $ | 4.16 |   |   |   | 78,667 |   |   |   | 7.5 |   |   | $ | 4.16 |   |
| $2.17                    |   |                | 2,000   |   |                                             |   | 9.6 |   |   | $ | 2.17 |   |   |   | 2,000 |   |   |   | 9.6 |   |   | $ | 2.17 |   |
| $3.05                    |   |                | 70,000  |   |                                             |   | 10.0 |   |   | $ | 3.05 |   |   |   | - |   |   |   | - |   |   | $ | - |   |
| Total                    |   |                | 585,624 |   |                                             |   |   |   |   |   |   |   |   |   | 420,291 |   |   |   |   |   |   |   |   |   |

|            |   | Years Ended December 31, |    |
|-----------------|--------|--------------------------|---------|
|            |   | 2010                     |    |   | 2009 |   |
| Current:        |   |                     |    |   |   |   |
| Federal         |   | $                        | 5,000   |   |   | $ | (690,000 | ) |
| State and local |   |                     | 30,000  |   |   |   | 24,000 |   |
| Total current   |   |                     | 35,000  |   |   |   | (666,000 | ) |
| Deferred:       |   |                     |    |   |   |   |   |   |
| Federal         |   |                     | — |   |   |   | 315,000 |   |
| State and local |   |                     | — |   |   |   | 106,000 |   |
| Total deferred  |   |                     | — |   |   |   | 421,000 |   |
| Totals          |   | $                        | 35,000  |   |   | $ | (245,000 | ) |

----

|                                        |   | December 31, |       |
|---------------------------------------------|--------|--------------|------------|
|                                        |   | 2010         |       |   | 2009 |   |
| Deferred tax assets—current:          |   |         |       |   |   |   |
| Bad debt reserves                           |   | $            | 82,000     |   |   | $ | 108,000 |   |
| Inventory reserves                          |   |         | 780,000    |   |   |   | 1,130,000 |   |
| Warranty and other reserves                 |   |         | 335,000    |   |   |   | 608,000 |   |
| Accrued wages                               |   |         | —    |   |   |   | 91,000 |   |
|                                        |   |         | 1,197,000  |   |   |   | 1,937,000 |   |
| Valuation allowance                         |   |         | (842,000   | ) |   |   | (979,000 | ) |
|                                        |   |         | 355,000    |   |   |   | 958,000 |   |
| Deferred tax liabilities—current:     |   |         |       |   |   |   |   |   |
| Prepaid expenses                            |   |         | (122,000   | ) |   |   | (288,000 | ) |
| Net deferred tax assets—current       |   | $            | 233,000    |   |   | $ | 670,000 |   |
| Deferred tax assets—non-current       |   |         |       |   |   |   |   |   |
| Intangibles                                 |   | $            | 2,014,000  |   |   | $ | 1,818,000 |   |
| Goodwill                                    |   |         | 2,527,000  |   |   |   | 2,919,000 |   |
| Federal net operating loss                  |   |         | 2,920,000  |   |   |   | — |   |
| State net operating loss                    |   |         | 462,000    |   |   |   | 269,000 |   |
| Other                                       |   |         | 221,000    |   |   |   | 448,000 |   |
|                                        |   |         | 8,144,000  |   |   |   | 5,454,000 |   |
| Valuation allowance                         |   |         | (5,265,000 | ) |   |   | (3,009,000 | ) |
|                                        |   |         | 2,879,000  |   |   |   | 2,445,000 |   |
| Deferred tax liabilities—non-current: |   |         |       |   |   |   |   |   |
| Depreciation                                |   |         | (1,005,000 | ) |   |   | (1,008,000 | ) |
| Net deferred tax assets—non-current   |   | $            | 1,874,000  |   |   | $ | 1,437,000 |   |

|                                                      |   | Years ended December 31, |     |
|-----------------------------------------------------------|--------|--------------------------|----------|
|                                                      |   | 2010                     |     |   | 2009 |   |
|                                                      |   | $                        |     |   | % |   |   | $ |   |   | % |   |
| Federal income tax (benefits) computed at statutory rates |   | $                        | 128,000  |   |   |   | 34.0 | % |   | $ | (489,000 | ) |   |   | (34.0 | )% |
| (Decrease) increase in taxes resulting from:              |   |                     |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| State and local taxes, net of Federal tax benefit         |   |                     | 20,000   |   |   |   | 5.3 |   |   |   | 86,000 |   |   |   | 5.9 |   |
| Change  in valuation allowance                  |   |                     | (236,000 | ) |   |   | (62.6 | ) |   |   | (220,000 | ) |   |   | (15.3 | ) |
| Expenses not deductible for tax purposes                  |   |                     | 50,000   |   |   |   | 13.3 |   |   |   | 35,000 |   |   |   | 2.4 |   |
| Increase in uncertain tax positions                       |   |                     | 11,000   |   |   |   | 2.9 |   |   |   | 275,000 |   |   |   | 19.1 |   |
| Other                                                     |   |                     | 62,000   |   |   |   | 16.4 |   |   |   | 68,000 |   |   |   | 4.9 |   |
| Income tax expense (benefit)                              |   | $                        | 35,000   |   |   |   | 9.3 | % |   | $ | (245,000 | ) |   |   | (17.0 | ) |

----

| Balance at January 1, 2010                          |   | $      | 275,000 |   |
|-----------------------------------------------------|--------|--------|---------|--------|
| Additions for tax positions related to current year |   |   | — |   |
| Interest accrual                                    |   |   | 11,000  |   |
| Lapse of statute of limitations                     |   |   | — |   |
| Settlements with taxing authorities                 |   |   | — |   |
| Balance at December 31, 2010                        |   | $      | 286,000 |   |

----

| 2011   |   | $      | 252,000 |   |
|--------|--------|--------|---------|--------|
| 2012   |   |   | 210,000 |   |
| 2013   |   |   | 88,000  |   |
| 2014   |   |   | 6,000   |   |
|   |   |   |    |   |
|   |   | $      | 556,000 |   |

|                                                      |   | Consolidated |       |   | Tools  |   |       | Hardware |   |
|-----------------------------------------------------------|--------|--------------|------------|--------|--------|--------|------------|----------|--------|
| Year ended December 31, 2010                              |   |         |       |   |   |   |       |     |   |
| Net revenues from unaffiliated customers                  |   | $            | 50,609,000 |   |   | $      | 36,478,000 |     |   | $ | 14,131,000 |   |
| Segment operating income                                  |   | $            | 6,689,000  |   |   | $      | 4,994,000  |     |   | $ | 1,695,000 |   |
| General corporate expense                                 |   |         | (5,070,000 | )      |   |   |       |     |   |   |   |   |
| Interest expense—net                                |   |         | (1,243,000 | )      |   |   |       |     |   |   |   |   |
| Income before income taxes                                |   | $            | 376,000    |   |   |   |       |     |   |   |   |   |
| Segment assets                                            |   | $            | 45,702,000 |   |   | $      | 34,955,000 |     |   | $ | 10,747,000 |   |
| Corporate assets                                          |   |         | 3,193,000  |   |   |   |       |     |   |   |   |   |
| Total assets                                              |   | $            | 48,895,000 |   |   |   |       |     |   |   |   |   |
| Long-lived assets, including $336,000 of corporate assets |   | $            | 19,221,000 |   |   | $      | 14,339,000 |     |   | $ | 4,546,000 |   |

----

|                                                      |   | Consolidated |       |   | Tools  |   |       | Hardware |   |
|-----------------------------------------------------------|--------|--------------|------------|--------|--------|--------|------------|----------|--------|
| Year ended December 31, 2009                              |   |         |       |   |   |   |       |     |   |
| Net revenues from unaffiliated customers                  |   | $            | 51,157,000 |   |   | $      | 37,816,000 |     |   | $ | 13,341,000 |   |
| Segment operating income                                  |   | $            | 4,502,000  |   |   | $      | 3,641,000  |     |   | $ | 861,000 |   |
| General corporate expense                                 |   |         | (4,601,000 | )      |   |   |       |     |   |   |   |   |
| Interest expense—net                                |   |         | (1,341,000 | )      |   |   |       |     |   |   |   |   |
| Loss before income taxes                                  |   | $            | (1,440,000 | )      |   |   |       |     |   |   |   |   |
| Segment assets                                            |   | $            | 62,708,000 |   |   | $      | 39,413,000 |     |   | $ | 23,295,000 |   |
| Corporate assets                                          |   |         | 6,710,000  |   |   |   |       |     |   |   |   |   |
| Total assets                                              |   | $            | 69,418,000 |   |   |   |       |     |   |   |   |   |
| Long-lived assets, including $474,000 of corporate assets |   | $            | 20,967,000 |   |   | $      | 15,768,000 |     |   | $ | 4,725,000 |   |

----

|   | • | Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect our transactions and dispositions of our assets; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with GAAP, and that our receipts and expenditures are being made in accordance with the authorizations of our management and directors; and |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Provide reasonable assurance regarding prevention or timely detention of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the consolidated financial statements |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|   |                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Page   |
|--------|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| a)     | List of Financial Statements, Financial Statement Schedules, and Exhibits |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   | (1)                                                                       | List of Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|   |                                                                      | The consolidated financial statements of the Company and its subsidiaries are included in Item 8 of Part II of this report.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 16     |
|   | (2)                                                                       | All schedules for which provision is made in the applicable accounting regulations of the Commission are not required under the related instructions or are inapplicable and, therefore, have been omitted.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|   | (3)                                                                       | List of Exhibits                                                                                                                             | 45     |

| ExhibitNumber |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1           |   | Asset Purchase Agreement, effective as of February 12, 2007, among Hy-Tech Machine, Inc., a Delaware corporation, Hy-Tech Machine, Inc., a Pennsylvania corporation, Quality Gear and Machine, Inc. and HTM Associates (Incorporated by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K dated February 14, 2007). Pursuant to Item 601(b)(2) of Regulation S-K, the Registrant agrees to furnish, supplementally, a copy of any exhibit or schedule omitted from this Asset Purchase Agreement to the Commission upon request.                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.2           |   | Amendment No. 1 to Purchase Agreement, dated as of June 26, 2009, by and among Hy-Tech Machine Inc., Hy-Tech Holdings, Inc., Quality Gear Holdings, Inc., HTM Associates, Robert Ober, Elizabeth Smail, James J. Browne, Daniel Berg and James Hohman (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated June 26, 2009).                                                                                                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.3           |   | Subordinated Promissory Note, dated May 16, 2009, issued by Hy-Tech Machine, Inc., payable to Hy-Tech Holdings, Inc. (Incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K dated June 26, 2009).                                                                                                                                                                                                                                                                                                                                                                                        |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.4           |   | Amended and Restated Secured Subordinated Promissory Note, dated October 25, 2010, executed by the Registrant, Florida Pneumatic Manufacturing Corporation, Hy-Tech, Machine, Inc., Nationwide Industries, Inc., Continental Tool Group, Inc., Countrywide Hardware, Inc., Embassy Industries, Inc., Green Manufacturing, Inc., Pacific Stair Products, Inc., WILP Holdings, Inc. and Woodmark International, L.P in favor of Hy-Tech Holdings, Inc., in the original principal amount of $573,235 (Incorporated by reference to Exhibit 10.7 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.5           |   | Subordination and Intercreditor Agreement, dated October 25, 2010, by and between Hy-Tech Holdings, Inc. and Capital One Leverage Finance Corporation, as agent (Incorporated by reference to Exhibit 10.4 to the Registrant’s Current Report on Form 8-K dated October 25, 2010)                                                                                                                                                                                                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.6           |   | Asset Purchase Agreement, dated as of June 8, 2009, by and between Coffman Stairs, LLC and WM Coffman LLC (Incorporated by reference to Exhibit 2.1 to Registrant’s Current Report on Form 8-K dated June 10, 2009). Pursuant to Item 601(b)(2) of Regulation S-K, the Registrant agrees to furnish, supplementally, a copy of any exhibit or schedule omitted from this Asset Purchase Agreement to the Commission upon request.                                                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.7           |   | Promissory Note, dated June 8, 2009, made payable by WM Coffman LLC to Coffman Stairs, LLC (Incorporated by reference to Exhibit 2.2 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.8           |   | Assignment and Assumption of Lease Agreement, made and entered into as of June 8, 2009, by and between Coffman Stairs, LLC and WM Coffman LLC (Incorporated by reference to Exhibit 2.3 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2.9           |   | Management Agreement, dated June 8, 2009, between Coffman Stairs, LLC and WM Coffman LLC (Incorporated by reference to Exhibit 2.3 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                                                                                                         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 3.1           |   | Restated Certificate of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004).                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 3.2           |   | By-laws of the Registrant (as amended on July 29, 2010) (Incorporated by reference to Exhibit 3.1 to Registrant’s Current Report on Form 8-K dated July 29, 2010).                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

----

| ExhibitNumber |   |   Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1          |   | Rights Agreement, dated as of August 19, 2004, between the Registrant and American Stock Transfer & Trust Company, as Rights Agent (Incorporated by reference to Exhibit 1 to the Registrant’s Registration Statement on Form 8-A dated August 19, 2004).                                                                                                                                                                                                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.2          |   | Credit Agreement, dated as of June 30, 2004, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated July 14, 2004).                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.3          |   | Amendment to Credit Agreement, dated June 24, 2005, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated June 27, 2005).                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.4          |   | Amendment No. 2 to Credit Agreement, dated December 27, 2005, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 4.4 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2005).                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.5          |   | Amendment No. 3 to Credit Agreement, dated February 13, 2006, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 4.5 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2005).                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.6          |   | Amendment No. 4 to Credit Agreement, dated May 11, 2006, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 4.6 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2006).                                                                               |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.7          |   | Amendment No. 5 to Credit Agreement, dated June 29, 2006, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated June 30, 2006).                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.8          |   | Amendment No. 6 to Credit Agreement, dated August 31, 2006, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated August 31, 2006).                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.9          |   | Amendment No. 7 to Credit Agreement, dated February 12, 2007, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated February 14, 2007).                                     |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.10         |   | Amendment No. 8 to Credit Agreement, dated as of June 29, 2007, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc. and Hy-Tech Machine, Inc., and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated June 29, 2007).                                   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.11         |   | Amendment No. 9 and Waiver to Credit Agreement, dated as of November 9, 2007, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2007). |

----

| ExhibitNumber |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.12         |   | Amendment No. 10 and Waiver to Credit Agreement, dated as of March 25, 2008, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 4.12 to Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007). |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.13         |   | Amendment No. 11 and Waiver to Credit Agreement, dated as of May 12, 2008, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2008).       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.14         |   | Amendment No. 12 to Credit Agreement, dated as of June 27, 2008, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated June 27, 2008).                                     |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.15         |   | Amendment No. 13 to Credit Agreement, dated as of July 31, 2008, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated July 31, 2008).                                     |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.16         |   | Amendment No. 14 to Credit Agreement, dated as of November 26, 2008, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated November 26, 2008).                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.17         |   | Amendment No. 15 to Credit Agreement, dated as of January 15, 2009, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated January 15, 2009).                               |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.18         |   | Amendment No. 16 to Credit Agreement, dated as of February 17, 2009, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated February 17, 2009).                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.19         |   | Amendment No. 17 to Credit Agreement, dated as of March 27, 2009, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.20         |   | Amendment No. 18 and Waiver to Credit Agreement, dated as of March 30, 2009, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                        |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.21         |   | Additional Term Loan Note, dated March 30, 2009, issued by the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc. and Hy-Tech Machine, Inc. payable to Citibank, N.A. (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                                                                                     |

----

| ExhibitNumber |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.22         |   | Additional Term Loan Note, dated March 30, 2009, issued by the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc. and Hy-Tech Machine, Inc. payable to HSBC Bank USA, National Association (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                                                   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.23         |   | Third Amended and Restated Revolving Credit Note, dated March 30, 2009, issued by the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc. and Hy-Tech Machine, Inc. payable to Citibank, N.A. (Incorporated by reference to Exhibit 10.5 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.24         |   | Third Amended and Restated Revolving Credit Note, dated March 30, 2009, issued by the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. in favor of HSBC Bank USA, National Association (Incorporated by reference to Exhibit 10.6 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                              |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.25         |   | Amendment No. 19 and Waiver to Credit Agreement, dated as of June 10, 2009, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.7 to Registrant’s Current Report on Form 8-K dated June 10, 2009).             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.26         |   | Fourth Amended and Restated Revolving Credit Note, dated June 10, 2009, issued by the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. in favor of HSBC Bank USA, National Association (Incorporated by reference to Exhibit 10.8 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                              |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.27         |   | Fourth Amended and Restated Revolving Credit Note, dated June 10, 2009, issued by the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc payable to Citibank, N.A. (Incorporated by reference to Exhibit 10.9 to Registrant’s Current Report on Form 8-K dated March 26, 2009).                                                                     |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.28         |   | Amendment No. 20 and Waiver to Credit Agreement, dated as of August 27, 2009, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated August 31, 2009).         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.29         |   | Letter Agreement, dated November 2, 2009, by and among the Registrant., Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc. and Hy-Tech Machine, Inc., Citibank, N.A. and HSBC Bank USA, National Association as lenders, and Citibank, N.A., as Administrative Agent (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated September 22, 2009). |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.30         |   | Letter Agreement, dated January 22, 2010, by and among the Registrant., Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc. and Hy-Tech Machine, Inc., Citibank, N.A. and HSBC Bank USA, National Association as lenders, and Citibank, N.A., as Administrative Agent (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated January 27, 2010).   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.31         |   | Revolving Credit, Term Loan and Security Agreement, dated as of June 8, 2009, among WM Coffman LLC, the lenders party thereto and PNC Bank, National Association, as Agent for the Lenders (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 10.32         |   | Term Note, dated June 8, 2009, made payable by WM Coffman LLC to the order of PNC Bank, National Association in the original principal amount of $1,134,000 (Incorporated by reference to Exhibit 10.5 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                     |

----

| ExhibitNumber |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.33         |   | Revolving Credit Note, dated June 8, 2009, made payable by WM Coffman LLC to the order of PNC Bank, National Association in the original principal amount of $10,866,000 (Incorporated by reference to Exhibit 10.6 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                              |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.34         |   | Reimbursement Agreement, dated as of June 8, 2009, by and between WM Coffman LLC and Richard A. Horowitz (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                                                              |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.35         |   | Forbearance and Amendment Agreement, dated as of February 22, 2010, by and among WM Coffman LLC, the financial institution set forth on the signature pages thereto and PNC Bank, National Association, as Agent (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated February 22, 2010).                                                                                                                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.36         |   | Junior Participation Agreement, dated as of February 22, 2010, by and among Richard Horowitz, the Christopher John Kliefoth Revocable Trust UA 07-10-2007 and PNC Bank, National Association, as Agent and lender (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K dated February 22, 2010).                                                                                                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.37         |   | Amendment No. 21 and Waiver to Credit Agreement, dated as of April 23, 2010, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. and Citibank, N.A., as Administrative Agent, and the lenders party thereto (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated April 23, 2010). |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.38         |   | Secured Subordinated Promissory Note, dated as of April 23, 2010, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. in favor of Marc Schorr in the principal amount of $500,000 (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.39         |   | Secured Subordinated Promissory Note, dated as of April 23, 2010, by and among the Registrant, Florida Pneumatic Manufacturing Corporation, Embassy Industries, Inc., Green Manufacturing, Inc., Countrywide Hardware, Inc., Nationwide Industries, Inc., Woodmark International, L.P., Pacific Stair Products, Inc., WILP Holdings, Inc., Continental Tool Group, Inc., Hy-Tech Machine, Inc. in favor of Richard A. Horowitz in the principal amount of $250,000 (Incorporated by reference to Exhibit 10.3 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                   |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.40         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and the Registrant, as debtor (Incorporated by reference to Exhibit 10.4 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.41         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Florida Pneumatic Manufacturing Corporation, as debtor (Incorporated by reference to Exhibit 10.5 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.42         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Embassy Industries, Inc., as debtor (Incorporated by reference to Exhibit 10.6 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.43         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Green Manufacturing, Inc., as debtor (Incorporated by reference to Exhibit 10.7 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                            |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.44         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Countrywide Hardware, Inc., as debtor (Incorporated by reference to Exhibit 10.8 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.45         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Nationwide Industries, Inc., as debtor (Incorporated by reference to Exhibit 10.9 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.46         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Woodmark International, L.P, as debtor (Incorporated by reference to Exhibit 10.10 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.47         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and WILP Holdings, Inc., as debtor (Incorporated by reference to Exhibit 10.11 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                                 |

----

| ExhibitNumber |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.48         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Continental Tool Group, Inc., as debtor (Incorporated by reference to Exhibit 10.12 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.49         |   | Security Agreement, dated as of April 23, 2010, between Marc Schorr and Richard A. Horowitz, as secured parties, and Hy-Tech Machine, Inc., as debtor (Incorporated by reference to Exhibit 10.13 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.50         |   | Second Loan Documents Modification Agreement, dated April 22, 2010, between Countrywide Hardware, Inc. and Wells Fargo, National Association (successor by merger to Wachovia Bank, National Association) as modifying the related (i) Mortgage, Security Agreement and Absolute Assignment of Leases, (ii) Promissory Note, and (iii) Loan Agreement, each dated May 24, 2002, between Countrywide Hardware, Inc. and Wachovia Bank, National Association, as previously amended (Incorporated by reference to Exhibit 10.15 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.51         |   | Acknowledgment of Events of Default and Peaceful Possession Letter, dated June 4, 2010, by WM Coffman LLC in favor of PNC Bank National Association. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated June 7, 2010).                                                                                                                                                                                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.52         |   | Mutual Release Agreement, dated as of June 4, 2010, by and among PNC Bank, National Association, as agent, the Registrant, Continental Tool Group, Inc., Florida Pneumatic Manufacturing Corporation, Hy-Tech Machine, Inc., Countrywide Hardware, Inc., WILP Holdings, Inc., Green Manufacturing, Inc., Embassy Industries, Inc., Nationwide Industries, Inc., Pacific Stair Products, Inc. and Woodmark International, L.P (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K dated June 7, 2010).                                                                         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.53         |   | Lease Agreement, dated as of March 30, 2007, by and between AGNL Coffman, L.L.C., Coffman Stairs, LLC and Visador Holding Corporation (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.54         |   | First Amendment to Lease Agreement, dated as of June 8, 2009, made by AGNL Coffman, L.L.C. and WM Coffman LLC (Incorporated by reference to Exhibit 10.2 to Registrant’s Current Report on Form 8-K dated June 10, 2009).                                                                                                                                                                                                                                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.55         |   | Indemnification Agreement, dated as of April 23, 2010, by the Registrant in favor of Marc Schorr and Richard A. Horowitz (Incorporated by reference to Exhibit 10.15 to Registrant’s Current Report on Form 8-K dated April 23, 2010).                                                                                                                                                                                                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.56         |   | Termination of Agreements, Settlement of Claim and Mutual General Releases dated March 3, 2011, among the Registrant, Old Stairs Co LLC, CS Divestiture LLC and Visador Holdings, LLC (Filed herein).                                                                                                                                                                                                                                                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.57         |   | Loan and Security Agreement, dated as of October 25, 2010, among the Registrant, Florida Pneumatic Manufacturing Corporation, Hy-Tech, Machine, Inc., Nationwide Industries, Inc., Continental Tool Group, Inc., Countrywide Hardware, Inc., Embassy Industries, Inc., Green Manufacturing, Inc., Pacific Stair Products, Inc., WILP Holdings, Inc., Woodmark International, L.P., and Capital One Leverage Finance Corporation, as agent (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated October 25, 2010.)                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.58         |   | Subordination and Intercreditor Agreement, dated October 25, 2010, by and between Richard Horowitz and Capital One Leverage Finance Corporation, as agent (Incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).                                                                                                                                                                                                                                                                                                                                    |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.59         |   | Subordination and Intercreditor Agreement, dated October 25, 2010, by and between Marc Schorr and Capital One Leverage Finance Corporation, as agent (Incorporated by reference to Exhibit 10.3 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).                                                                                                                                                                                                                                                                                                                                         |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.60         |   | Amended and Restated Secured Subordinated Promissory Note, dated October 25, 2010, executed by the Registrant, Florida Pneumatic Manufacturing Corporation, Hy-Tech, Machine, Inc., Nationwide Industries, Inc., Continental Tool Group, Inc., Countrywide Hardware, Inc., Embassy Industries, Inc., Green Manufacturing, Inc., Pacific Stair Products, Inc., WILP Holdings, Inc. and Woodmark International, L.P.in favor of Richard Horowitz, in the original principal amount of $250,000 (Incorporated by reference to Exhibit 10.5 to the Registrant’s Current Report on Form 8-K dated October 25, 2010). |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.61         |   | Amended and Restated Secured Subordinated Promissory Note, dated October 25, 2010, executed by the Registrant, Florida Pneumatic Manufacturing Corporation, Hy-Tech, Machine, Inc., Nationwide Industries, Inc., Continental Tool Group, Inc., Countrywide Hardware, Inc., Embassy Industries, Inc., Green Manufacturing, Inc., Pacific Stair Products, Inc., WILP Holdings, Inc. and Woodmark International, L.P in favor of Marc Schorr, in the original principal amount of $500,000 (Incorporated by reference to Exhibit 10.6 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).      |

----

| ExhibitNumber |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.62         |   | Revolver Note, dated October 25, 2010, executed by the Registrant, Florida Pneumatic Manufacturing Corporation, Hy-Tech, Machine, Inc. and Nationwide Industries, Inc.  in favor of Capital One Leverage Finance Corporation, as agent, in the original principal amount of $15,910,000 (Incorporated by reference to Exhibit 10.8 to the Registrant’s Current Report on Form 8-K dated October 25, 2010). |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.63         |   | Term Loan Note, dated October 25, 2010, executed by the Registrant, Florida Pneumatic Manufacturing Corporation, Hy-Tech, Machine, Inc. and Nationwide Industries, Inc.  in favor of Capital One Leverage Finance Corporation, as agent, in the original principal amount of $6,090,000 (Incorporated by reference to Exhibit 10.9 to the Registrant’s Current Report on Form 8-K dated October 25, 2010). |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.64         |   | Mortgage, Assignment of Leases and Rents, Security Agreement and Financing Statement, dated as ofOctober 25, 2010, made by Countrywide Hardware, Inc. in favor of Capital One Leverage Finance Corporation, as agent (Incorporated by reference to Exhibit 10.10 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.65         |   | Mortgage, Assignment of Leases and Rents, Security Agreement and Financing Statement, dated as ofOctober 25, 2010, made by Florida Pneumatic Manufacturing Corporation. in favor of Capital One Leverage Finance Corporation, as agent(Incorporated by reference to Exhibit 10.11 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).                                                            |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.66         |   | Mortgage, Assignment of Leases and Rents, Security Agreement and Financing Statement, dated as ofOctober 25, 2010, made by Hy-Tech Machine, Inc.. in favor of Capital One Leverage Finance Corporation, as agent(Incorporated by reference to Exhibit 10.12 to the Registrant’s Current Report on Form 8-K dated October 25, 2010).                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.67         |   | *Executive Employment Agreement, dated February 12, 2007, among the Registrant and Richard A. Horowitz (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated February 12, 2007).                                                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.68         |   | *Amended and Restated Executive Employment Agreement, dated December 19, 2008, among the Registrant and Richard A. Horowitz (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated December 19, 2008)                                                                                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.69         |   | *2002 Stock Incentive Plan of the Registrant (Incorporated by reference to Exhibit 4.7 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002).                                                                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.70         |   | *Executive 162(m) Bonus Plan of the Registrant effective as of January 1, 2006 (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated May 31, 2006).                                                                                                                                                                                                                        |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.71         |   | *P&F Industries, Inc. 2010 CEO Deferred Compensation Plan, dated April 26, 2010 (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K dated April 26, 2010).                                                                                                                                                                                                                 |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.72.        |   | *Grant of bonus to named executive officers with respect to performance in 2010 (Incorporated by reference to Item 5.02(e) of Registrant’s Current Report on Form 8-K dated March 9, 2011).                                                                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 21            |   | Subsidiaries of the Registrant (Filed herein).                                                                                                                                                                                                                                                                                                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 23.1          |   | Consent of the Registrant’s Independent Registered Public Accounting Firm (Filed herein).                                                                                                                                                                                                                                                                                                                            |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.1          |   | Certification of Richard A. Horowitz, Principal Executive Officer of the Registrant, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herein).                                                                                                                                                                                                                                                             |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.2          |   | Certification of Joseph A. Molino, Jr., Principal Financial Officer of the Registrant, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Filed herein).                                                                                                                                                                                                                                                           |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 32.1          |   | Certification of Richard A. Horowitz, Principal Executive Officer of the Registrant, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Filed herein).                                                                                                                                                                                                              |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 32.2          |   | Certification of Joseph A. Molino, Jr., Principal Financial Officer of the Registrant, Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Filed herein).                                                                                                                                                                                                            |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                       |
|          |   | Certain instruments defining the rights of holders of the long-term debt securities of the Registrant may be omitted pursuant to Section (b)(4)(iii)(A) of Item 601 of Regulation S-K. The Registrant agrees to furnish supplementally copies of these instruments to the Commission upon request.                                                                                                                         |

| * | Management contract or a compensatory plan or arrangement required to be filed as an exhibit. |
|---|-----------------------------------------------------------------------------------------------|

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| By:    | /s/   Richard A. Horowitz                                                              |   | By:    | /s/   Joseph A. Molino, Jr.                                                            |
|--------|--------------------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------------------------|
|   | Richard A. HorowitzChairman of the BoardPresidentPrincipal Executive OfficerDate: March 31, 2011 |   |   | Joseph A. Molino, Jr.Vice PresidentPrincipal Financial andAccounting OfficerDate: March 31, 2011 |

| Name                                |   | Title    |   | Date           |
|-------------------------------------|--------|----------|--------|----------------|
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/   Richard A. Horowitz |   | Director |   | March 31, 2011 |
| Richard A. Horowitz                 |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ Jeffrey D. Franklin             |   | Director |   | March 31, 2011 |
| Jeffrey D. Franklin                 |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ HOWARD BROD BROWNSTEIN          |   | Director |   | March 31, 2011 |
| Howard Brod Brownstein              |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ Dennis Kalick                   |   | Director |   | March 31, 2011 |
| Dennis Kalick                       |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ Kenneth M. Scheriff             |   | Director |   | March 31, 2011 |
| Kenneth M. Scheriff                 |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/   Mitchell A. Solomon |   | Director |   | March 31, 2011 |
| Mitchell A. Solomon                 |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ Marc A. Utay                    |   | Director |   | March 31, 2011 |
| Marc A. Utay                        |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ ALAN GOLDBERG                   |   | Director |   | March 31, 2011 |
| Alan Goldberg                       |   |     |   |
|                                |   |     |   |           |
|                                |   |     |   |           |
| /s/ ROBERT DUBOFSKY                 |   | Director |   | March 31, 2011 |
| Robert Dubofsky                     |   |     |

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