Although the tally is unofficial, Goddard told shareholders attending the company's annual meeting at Post Riverside auditorium that its six directors seeking re-election have been re-elected by at least 65% of the votes cast.

"Today's announcement clearly indicates that our shareholders believe that the current board and management is the right team to create value for shareholders," Goddard says in a prepared statement. "Toward that end, we are pleased to put this proxy contest behind us and to move forward with our program to enhance shareholder value."

Independent inspectors are tallying the proxy cards received by Post and Williams. "The inspectors will prepare a preliminary vote count after which both sides will have an opportunity to examine the tabulation," Goddard says.