_______________________________________________

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 10-Q


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

                 For the quarterly period ended October 31, 2000


     Commission File Number 001-12567


                              POSSIS MEDICAL, INC.

                            9055 Evergreen Boulevard

                        Minneapolis, Minnesota 55433-8003

                                 (763) 780-4555


     A Minnesota Corporation                  IRS Employer ID No. 41-0783184

                        _________________________________


     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
Registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes X No___

     The number of shares outstanding of the Registrant's Common Stock, $.40 par
value, as of November 30, 2000 was 16,696,156.


                        ________________________________

<PAGE>


                              POSSIS MEDICAL, INC.

                                      INDEX



PAGE


PART I.   FINANCIAL INFORMATION

 ITEM 1.  Financial Statements

            Consolidated Balance Sheets, October 31, 2000
            and July 31, 2000........................................        3

            Consolidated Statements of Operations and Comprehensive
            Loss for the three months ended October 31, 2000 and 1999        4

            Consolidated Statements of Cash Flows for the
            three months ended October 31, 2000 and 1999 ............        5

            Notes to Consolidated Financial Statements...............        6

 ITEM 2.  Management's Discussion and Analysis of Financial
            Condition and Results of Operations......................     7-11

 ITEM 3.  Quantitative and Qualitative Disclosure about
            Market Risks ............................................       11



PART II.  OTHER INFORMATION


 ITEM 6.  Exhibits and Reports on Form 8-K...........................       12

          SIGNATURES.................................................       13

<PAGE>


                      POSSIS MEDICAL, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                            October 31, 2000     July 31, 2000

<S>                                            <C>               <C>
CURRENT ASSETS:
  Cash and cash equivalents..................  $ 1,729,176       $  4,053,429
  Marketable securities......................    7,659,996          8,917,251
  Receivables:
    Trade (less allowance for doubtful
      accounts and returns of $827,000
      and $672,000, respectively)............    3,491,954          2,940,497
  Inventories:
    Parts....................................    1,214,826          1,441,137
    Work-in-process..........................    1,594,248          1,551,524
    Finished goods...........................    1,979,165          2,107,677
  Prepaid expenses and other assets..........      171,384            278,491

    Total current assets.....................   17,840,749         21,290,006
PROPERTY:
  Leasehold improvements.....................    1,453,382          1,363,902
  Machinery and equipment....................    6,124,928          5,688,540
  Assets in construction.....................      415,572            305,474

                                                 7,993,882          7,357,916
  Less accumulated depreciation..............   (3,914,860)        (3,643,976)
    Property - net...........................    4,079,022          3,713,940

TOTAL ASSETS.................................  $21,919,771        $25,003,946


LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
  Trade accounts payable.....................  $   863,836        $ 1,916,063
  Accrued salaries, wages, and commissions...    1,458,830          1,603,061
  Current portion of long-term debt..........      180,052            179,949
  Other liabilities..........................    1,184,532            802,989
Total current liabilities....................    3,687,250          4,502,062

LONG-TERM DEBT...............................        5,863              7,279

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:
  Common stock-authorized, 100,000,000
    shares of $ .40 par value each; issued
    and outstanding, 16,696,156 and
    16,700,942 shares, respectively..........    6,678,463          6,680,377
  Additional paid-in capital.................   74,662,261         74,581,145
  Unearned compensation......................        --               (24,809)
Retained deficit.............................  (63,114,066)       (60,742,108)
Total shareholders' equity...................   18,226,658         20,494,605
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY...  $21,919,771        $25,003,946

<FN>

See notes to consolidated financial statements.

</FN>
</TABLE>

<PAGE>





                      POSSIS MEDICAL, INC. AND SUBSIDIARIES
          CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
              FOR THE THREE MONTHS ENDED OCTOBER 31, 2000 AND 1999
                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                          2000          1999

<S>                                                    <C>          <C>
Product sales......................................... $6,545,110   $ 4,483,189

Cost of sales and other expenses:
  Cost of medical products............................  3,082,045     2,098,395
Selling, general and administrative...................  4,516,228     3,811,554
Research and development..............................  1,487,507     1,262,225
Interest..............................................      2,199         2,316
    Total cost of sales and other expenses............  9,087,979     7,174,490
Operating loss........................................ (2,542,869)   (2,691,301)
Interest income.......................................    170,911        99,322
Net loss and comprehensive loss.......................($2,371,958)  $(2,591,979)

Weighted average number of common shares outstanding.. 16,700,527    15,005,810
Basic and dilutive net loss per common share:
    Net loss..........................................      $(.14)        $(.17)















<FN>

See notes to consolidated financial statements.

</FN>
</TABLE>

<PAGE>


                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED OCTOBER 31, 2000 AND 1999
                                   (UNAUDITED)

<TABLE>
<CAPTION>


                                                          2000          1999

<S>                                                   <C>           <C>
OPERATING ACTIVITIES:
Net loss .............................................$(2,371,958)  $(2,591,979)
Adjustments to reconcile net loss to net
  cash used in operating activities:
    Depreciation......................................    444,316       254,572
Amortization..........................................       --          18,000
Stock compensation to employees and stock options
  issued to non-employees.............................     26,309        83,033
    Increase in receivables...........................   (551,457)      (25,437)
    Decrease (increase) in inventories................    146,099      (270,683)
    Decrease (increase) in other assets...............    107,107        (4,190)
Decrease in trade accounts payable.................... (1,052,227)     (204,084)
Increase in accrued and other liabilities.............    292,355       227,156
Net cash used in operating activities................. (2,959,456)   (2,513,612)

INVESTING ACTIVITIES:
Purchase of marketable securities..................... (7,742,745)         --
Proceeds from maturity of marketable securities.......  9,000,000          --
Additions to plant and equipment......................   (643,398)     (188,785)
Net cash provided (used) by investing activities......    613,857      (188,785)

FINANCING ACTIVITIES:
Proceeds from issuance of stock and exercise
  of options..........................................     22,659        60,842
Repayment of long-term debt...........................     (1,313)       (1,210)
Net cash provided by financing activities.............     21,346        59,632

DECREASE IN CASH AND CASH EQUIVALENTS................. (2,324,253)   (2,642,765)
CASH AND CASH EQUIVALENTS AT BEGINNING OF QUARTER.....  4,053,429     9,151,004
CASH AND CASH EQUIVALENTS AT END OF QUARTER...........$ 1,729,176   $ 6,508,239

SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid.........................................$       159   $       347
Accrued payroll taxes related to restricted stock.....     55,043        24,881
Issuance of restricted stock..........................       --          32,250











<FN>

See notes to consolidated financial statements.

</FN>
</TABLE>

<PAGE>


                      POSSIS MEDICAL, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

1. BASIS OF PRESENTATION

     The  accompanying  unaudited  consolidated  financial  statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information and with the  instructions to Form 10-Q and Article 10 of
Regulation  S-X.  Accordingly,  they do not include all of the  information  and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements. In the opinion of management,  all adjustments (consisting
of normal recurring accruals)  considered necessary for a fair presentation have
been included.  The  accompanying  consolidated  financial  statements and notes
should  be read  in  conjunction  with  the  audited  financial  statements  and
accompanying notes thereto included in the Company's 2000 Annual Report.


2. INTERIM FINANCIAL STATEMENTS

     Operating results for the three month period ended October 31, 2000 are not
necessarily  indicative  of the results that may be expected for the year ending
July 31, 2001.


3. SEGMENT AND GEOGRAPHIC INFORMATION AND CONCENTRATION OF CREDIT RISK

     The  Company's   operations  are  in  one  business  segment,  the  design,
manufacture and  distribution of  cardiovascular  and vascular  medical devices.
Possis  Medical,  Inc.  evaluates  revenue  performance  based on the  worldwide
revenues   of  each  major   product   line  and   profitability   based  on  an
enterprise-wise  basis  due to  shared  infrastructures  to make  operating  and
strategic decisions.

     Total revenues by United States and outside the United States for the three
months ended October 31, 2000 and 1999 are as follows:

                                                      2000              1999

       United States............................   $6,410,400       $ 4,406,084
       Outside the United States................      134,710            77,105
       Total revenues..........................    $6,545,110       $ 4,483,189


4. EARNINGS (LOSS) PER SHARE

     The  Company's  outstanding  stock  options  and  stock  warrants  were not
included in the  computation  of earnings  per share since the impact would have
been anti-dilutive because of the net loss.

<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
         FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations

Quarters Ended October 31, 2000 and 1999

     Total  product  sales for the quarter  ended  October  31,  2000  increased
$2,062,000, or 46%, to $6,545,000 compared to $4,483,000 in the first quarter of
1999. The Company recorded a net loss of $2,372,000,  or $.14 per diluted share,
compared  to a net  loss  of  $2,592,000  or  $.17  per  diluted  share,  in the
prior-year  fiscal first quarter.  The main factors in the revenue increase were
the April 2000 and May 2000 FDA  clearances  to commence  U.S.  marketing of the
AngioJet(R)  Rheolytic(TM)  Thrombectomy System (AngioJet System), with labeling
claims for the  Company's  LF140  catheter  for  removal  of blood  clots in leg
(peripheral)  arteries,  the  clearance  to market its new  Xpeedior  60 and 100
catheters  for  removal  of blood  clots  from  dialysis  access  grafts and the
clearance  to market its Xpeedior 100 catheter for removal of blood clots in leg
arteries. The Xpeedior catheters are the first catheters marketed by the Company
based  upon  its  proprietary   Cross-Stream(TM)   Technology.   This  exclusive
technology  platform  intensifies  the action at the tip of the catheter,  which
doubles the clot removal rate and triples the treatable  vessel size compared to
other  available  mechanical  thrombectomy  devices  on  the  market  today.  In
addition,  Cross-Stream  Technology has been able to deal more  effectively with
"mural  thrombus,"  the older,  more  organized  material that adheres to vessel
walls and can complicate patient results.


Revenue - AngioJet System

     U.S.  AngioJet  System revenue for the first quarter ended October 31, 2000
increased 57% to $6,335,000 compared to $4,025,000 in the first quarter of 1999.
As of October 31, 2000,  the Company had a total of 541 domestic  drive units in
the field, compared to 342 drive units at the end of the same prior year period,
and 493 drive units as of July 31, 2000.  During the three months ended  October
31, 2000 and 1999, the Company sold approximately  5,400 and 3,200 catheters and
pump sets,  respectively.  This represents a 69% increase in unit catheter sales
from the previous year. The significant  increase in unit catheter sales was due
to the April 2000 and May 2000 FDA clearances to commence U.S.  marketing of the
AngioJet  System,  with  labeling  claims for the Company's  LF140  catheter for
removal of blood clots in leg (peripheral) arteries, the clearance to market its
new  Xpeedior 60 and 100  catheters  for  removal of blood  clots from  dialysis
access  grafts and the clearance to market its Xpeedior 100 catheter for removal
of blood  clots in leg  arteries.  The  average  catheter  utilization  rate per
installed domestic drive unit was 10.1 in the first quarter,  compared to a rate
of 9.4 in the  same  prior  year  period,  and to a rate of  11.0 in the  fourth
quarter of fiscal 2000. The Company sold 42 drive units in the quarter  compared
to 32 drive units in the like quarter a year ago.

     Currently  the Company  lists its AngioJet  System  drive unit,  considered
capital equipment,  at $35,000 to U.S. hospitals.  The Company employs a variety
of flexible drive unit acquisition programs including outright purchase,  rental
and capital free  program.  The capital free program  allows the customer to use
the drive unit in  exchange  for  payment of list  price for the  catheter.  The
purchasing  cycle for the AngioJet  System drive unit varies from purchasing the
drive  unit with no  evaluation  to an  evaluation  period of up to six  months,
depending  on the  customer's  budget  cycle.  The Company has  recently  signed
contracts with four purchasing groups in order to accelerate orders and increase
marketing  penetration.  These  purchasing  groups acquire drive units for their
member hospitals at pre-negotiated discounts.

<PAGE>

     The  Company  expects  U.S.  AngioJet  System  sales  to  continue  to grow
primarily through obtaining additional  FDA-approved product uses,  introduction
of new  catheter  models for  existing  indications,  more face time  selling to
existing  accounts,  peer-to-peer  selling,  and  the  publication  of  clinical
performance and cost effectiveness data.

     In  October  1999,   the  Company   received  full  FDA  approval  for  its
Investigational  Device Exemption (IDE) application for the clinical trial (TIME
1) of the AngioJet System in the treatment of severe acute ischemic stroke.  The
first  patient was enrolled in May 2000.  After the first five patients had been
treated in the TIME 1 clinical trial for ischemic  stroke,  a planned review was
conducted.  This review  concluded  that the AngioJet  NV150  neurocatheter  can
access the middle  cerebral artery where most ischemic  strokes occur,  and that
the device can  effectively  remove  clot from this  territory.  The review also
identified  enhancements  that can be made to the  protocol,  the  catheter  and
physician  technique to further improve outcomes.  Patient  enrollment in TIME 1
will continue after these  enhancements  are in place,  anticipated for February
2001.

     Foreign sales of the AngioJet  System for quarters  ending October 31, 2000
and 1999 were $135,000 and $77,000,  respectively. The limited foreign sales are
due to cost constraints in overseas  markets.  In Japan,  the coronary  AngioJet
System  clinical  study was completed in April 1998 and a regulatory  filing was
completed  in November  1999 with the  Japanese  Ministry of Health and Welfare.
Japanese  approval for  coronary use of the AngioJet  System is expected in mid-
calendar 2001.

     The Company  believes  that the  treatment  of blood clots in the  coronary
vessels,  peripheral  arteries,  and neuro  vessels  are  significant  worldwide
marketing opportunities for the AngioJet System.


Revenue - Vascular Grafts

     Vascular  graft sales were  $75,000  and  $380,000  for the  quarter  ended
October 31, 2000 and 1999, respectively.  All of the vascular graft sales in the
2000 and 1999 periods were  Perma-Seal(R)  Dialysis Access Grafts.  In September
1998 the Company  received FDA marketing  approval for its  Perma-Seal  Dialysis
Access Graft. In December 1998, the Company entered into an exclusive  worldwide
supply and distribution  agreement for its Perma-Seal  Dialysis Access Graft. In
November  2000,  the  distributor   indicated  their  desire  to  terminate  the
distribution  agreement  and return  unsold  product.  The Company is working to
resolve this issue. No additional sales of Perma-Seal Dialysis Access Grafts are
expected in fiscal 2001.

<PAGE>

     In April 1998, the Company  received  Humanitarian  Device  Exemption (HDE)
approval from the FDA,  allowing U.S.  marketing of the  Perma-Flow(R)  Coronary
Bypass Graft for  patients who require  coronary  bypass  surgery,  but who have
inadequate  blood  vessels of their own for use in the  surgery.  Currently  the
Company is  exploring  strategic  options  relating  to future  development  and
commercialization of the product.

     In February 1999,  the Company  received  510(k)  clearance from the FDA to
market three expanded  polytetrafluoroethylene  (ePTFE) synthetic grafts.  ePTFE
synthetic  grafts are the most  commonly  used  synthetic  grafts in  peripheral
vessel bypass procedures.

     A goal of the Company is to maximize the value of these graft  products and
technologies  for  its  shareholders.  Its  strategy  is  to  seek  partners  to
distribute the products and possibly fund the graft product development program.
In  addition,  the  Company  will  continue to pursue the  possible  sale of its
vascular  graft  products  and  technologies.  While the  Company  works  toward
completing these  activities,  it has placed vascular graft product  development
and production on hold.


Cost of Medical Products

     Cost of medical products  increased 47%, or $984,000,  compared to the same
period a year ago. The increase is primarily  due to the  significant  growth in
the U.S.  AngioJet  System product sales.  This resulted in gross margins of 53%
for each of the  quarters  ended  October 31, 2000 and 1999,  respectively.  The
improvement  in gross  margins  driven by volume  increases in the quarter ended
October 31, 2000 was offset by higher scrap rates and lower yields on catheters,
and an unfavorable mix of higher margin coronary catheters. The Company believes
that gross margins will improve as product sales and related volumes continue to
grow and as product and process improvements are made.


Selling, General and Administrative Expense

     Selling,  general and  administrative  expenses  for the three months ended
October 31, 2000 increased $705,000, compared to the same period a year ago. The
primary  factors  are  increased  sales and  marketing  expenses  related to the
establishment  of a U.S. direct sales  organization to sell the AngioJet System,
increased  expenses related to marketing the product in the United States and an
increase in  computer  and  software  depreciation.  Based upon early  physician
interest and the AngioJet  System FDA approvals for coronary and leg artery use,
the  Company  has  grown  the U.S.  sales  and  marketing  organization  from 53
employees in October 1999 to 70 in October  2000.  The Company  expects that the
current level of the U.S. sales force will be able to grow sales and service the
customer base for the Company's AngioJet System through fiscal 2001.

<PAGE>

Research and Development Expense

     Research and development  expenses increased 18% from last year, due mainly
to an increase in the  development  of new  AngioJet  System  applications.  The
Company believes that research and development  will increase  slightly from the
fiscal 2000 level as it completes the  development  of its current  products and
invests in development of new AngioJet System thrombectomy  applications and new
miniaturized waterjet technology-based products.


Interest Income and Expense

     Interest income increased  $72,000 in the quarter ended October 31, 2000 as
compared  to the same  period a year  ago.  The  increase  was due to the  gross
proceeds of $15 million  received from the private  placement  offering in March
2000. The Company  expects  interest  income to decrease during the remainder of
fiscal  2001 as the  Company's  cash  reserves  are used to fund  the  Company's
operations.

     Interest  expense was $2,000 for the  quarters  ended  October 31, 2000 and
1999,  respectively.  The Company expects interest expense to stay at low levels
in fiscal 2001 unless a line of credit through a bank is obtained.  If a line of
credit is obtained, the amount of increase in interest expense is dependent upon
how much is borrowed, the interest rate, and the length of time the borrowing is
outstanding.


Liquidity and Capital Resources

     The Company's cash,  cash  equivalents  and marketable  securities  totaled
approximately  $9.4 million at October 31, 2000 versus $13.0 million at July 31,
2000.

     Net cash, cash  equivalents and marketable  securities  usage for the three
months ended October 31, 2000 averaged $1.2 million per month.  The $3.6 million
used in operations in the most recent three month period was due to the net loss
of $2.4 million,  a $1.1 million reduction in accounts  payable,  an increase of
$551,000 in accounts receivable and capital expenditures of $643,000,  partially
offset by the combined effect of non-cash  charges,  a decrease in inventory,  a
decrease in other assets and an increase in accruals totaling $1.0 million.

     The Company believes that product sales of the AngioJet  System,  primarily
from the U.S.,  will yield  meaningful  sales growth going forward.  The Company
expects the current level of the U.S. sales force will be able to grow sales and
service the customer base for the Company's  AngioJet  System through the fiscal
year 2001.  Research  and  development  expenditures  are  expected  to increase
slightly  from the fiscal  2000 level as it  completes  the  development  of its
current products and invests in development of new AngioJet System  thrombectomy
applications and new miniaturized  waterjet  technology-based  products.  Possis
expects to report a loss for fiscal 2001,  which is expected to be less than the
fiscal 2000 loss.  In  addition,  the Company  expects that  increasing  working
capital  investments  in trade  receivables  and  inventory  will be required to
support  growing  product  sales.  The Company has no plans to raise  additional
outside  capital  in  fiscal  2001,  although  there  can be no  assurance  that
additional capital will not be required during that time.

<PAGE>

Forward-Looking Statements

     Management's  Discussion and Analysis of Financial Condition and Results of
Operations  contain  certain  "forward-looking  statements"  as  defined  in the
Private  Securities  Litigation Reform Act of 1995. Such statements  relating to
future events and financial  performance,  including  statements relating to the
Company's  ability to establish an adequate  recurring  revenue stream from U.S.
AngioJet(R)  System  disposable  sales,  the ability to  maintain  manufacturing
yields at acceptable levels, changes in the Company's marketing strategies,  the
ability to grow sales while  maintaining  its current level of U.S. sales force,
the ability to achieve growing acceptance of the AngioJet System, the ability to
control  expenses  in order to become  profitable,  the  ability to develop  new
products,  the ability to raise  additional  capital on  acceptable  terms,  the
results of clinical trials and  physician-directed  studies,  and the ability to
achieve levels of interest income and interest expense. These statements involve
risks and  uncertainties,  and consequently,  actual results may vary materially
from those projected in the  forward-looking  statements.  It is not possible to
foresee or identify  all factors  affecting  the  Company's  future  results and
investors  therefore  should  not  consider  any list of such  factors  to be an
exhaustive statement of all risks and uncertainties. Although it is not possible
to create a  comprehensive  list of all factors that may cause actual results to
differ from the Company's  forward-looking  statements,  these  factors  include
trends toward managed health care,  health care cost  containment,  the trend of
consolidation  in the medical device industry,  difficulties  and  uncertainties
associated  with the lengthy and costly new product  development  and regulatory
clearance  processes,  changes  in  government  laws  and  regulations  and  the
enforcement there of that may be adverse to the Company,  the development of new
products by competitors  that may make our products  obsolete,  product recalls,
and economic factors over which the Company has no control, including changes in
inflation and interest rates. These and other risk factors set forth in the risk
factors included in Exhibit 99 to the Company's  registration  statement on Form
S-3 dated April 17, 2000 are filed with the Securities and Exchange Commission.


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     The Company  invests  its excess cash in money  market  mutual  funds.  The
market risk on such investments is minimal.

     The product sales for the Company's foreign  subsidiary are in U.S. Dollars
("USD").  At the end of October  2000,  the amount of  currency  held in foreign
exchange was approximately  $1,000 USD. The market risk on the Company's foreign
subsidiary operations is minimal.

     At October  31,  2000,  all of the  Company's  outstanding  long-term  debt
carries  interest at a fixed rate.  There is no material market risk relating to
the Company's long-term debt.

<PAGE>





                           PART II. OTHER INFORMATION


ITEM 6.  Exhibits and Reports on Form 8-K

     (a)  Exhibits

     Certain of the following  exhibits are incorporated by reference from prior
filings.  The form with which each  exhibit was filed and the date of filing are
indicated below.

Exhibit    Form        Date Filed                   Description


  3.1      10-K     Fiscal year ended      Articles of incorporation as amended
                    July 31, 1994          and restated to date.

  3.2      10-K     Fiscal year ended      Bylaws as amended and restated
                    July 31, 1999          to date.

  27                                       Financial Data Schedule







     (b)  Reports on Form 8-K

     Possis Medical,  Inc. filed no reports on Form 8-K during the quarter ended
October 31, 2000.

<PAGE>



SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



                                      POSSIS MEDICAL, INC.


DATE:  December 12, 2000              BY:      /s/
                                         ROBERT G. DUTCHER
                                         President and Chief Executive Officer



DATE:  December 12, 2000              BY:      /s/
                                         EAPEN CHACKO
                                         Vice President of Finance and
                                         Chief Financial Officer