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An analyst and top management from two sector firms examine the Machine Vision Companies sector in this 13-page Machine Vision Companies Report from The Wall Street Transcript, available at (212/952-7433) or www.twst.com

TWST: Could we start out with a quick overview of your coverage?

Mr. Paris: In terms of this interview it’s factory-floor technology, generally for improving quality and efficiency. It includes companies providing machine vision systems, factory floor communications and quality control instruments.

TWST: You seem to have a higher level of conviction than I’ve heard recently that things are getting better. What is the cause of that?

Mr. Paris: It’s probably because I started as an economist and do the economics for the firm. Consequently, I pay a lot of attention to the big picture in addition to talking to individual company managements. It’s very clear that not only has the economy turned the corner, but there is a substantial base for a significant acceleration in the second half in the economy and for a sustained upturn in capital spending.

TWST: What’s your rating on X-Rite?

Mr. Paris: It’s also a buy. When you’re in industrial and capital spending companies and you believe that the economy is about ready to accelerate, my question is is not know, when? We have one other company to mention, Woodhead Industries (Nasdaq:WDHD), because it represents another factory trend. Two-thirds of its business, which they’ve recently expanded over the last few years, is in connectivity, serving the industrial automation market and, more specifically, the industrial communications and connectivity market. One thing we need now or people perceive they need on a typical factory floor is better communications both between machines and between the factory floor and the company’s computer information systems. On the factory floor, a company may have processors or equipment from Siemens, Allen-Bradley and a number of other sources, all talking different languages. Woodhead, for example, has a durable connector and software that allows all the various information sources to be fed through its box that converts all the information into Ethernet that can be accessed by the back office on a real time basis and from remote locations. They also have a product they call NetAlert that monitors the factory floor networks for any flaws or developing problems in the network. The other new trend is monitoring the machines themselves to be alerted of any pending problems ahead of time that might result in machine down time, so they have instruments that monitor the machines themselves. For example, if a particular gear is wearing out, you want to know that before it happens. There should be good growth in the sector over the long term.

TWST: Do you have a buy rating because of the environment?

Mr. Paris: I have a market perform rating. The other third of their business is their traditional Woodhead Industries electrical business, which grows at GDP or a little bit better. They are selling off some of that business, but they’re keeping some of it, and there’s an accounting rule that has just been passed recently that doesn’t allow them to treat that as a discontinued operation because they’re keeping part of it. Consequently, the losses and expenses involved with the sale is running through the operating statements. I think the stock should be bought, but I downgraded it a while back because there would be some short-term confusion and that has been the case.

This special report includes:

1) Analyst Interview - In an in-depth (5,700 words) Interview, Alexander P. Paris Sr., President of Barrington Research Associates, examines the outlook for the sector and shares specific stock recommendations.

2) CEO interviews (average 2,500 words). Top management of two - sector firms examine the outlook for their firm and the sector. Firms include:

Perceptron, Inc., Woodhead Industries, Inc.