Just as a cautious ordsprog

en Just as a cautious businessman avoids investing all his capital in one concern, so wisdom would probably admonish us also not to anticipate all our happiness from one quarter alone.
  Sigmund Freud

en We remain cautious in our outlook for the remainder of the fourth quarter. We expect to achieve significant increases in passenger volumes but also anticipate that yields in Q4 will fall reflecting our large capacity growth in this weakest winter quarter.

en We anticipate a relatively clean fourth quarter outside of card losses and slightly lower capital markets.

en This was a very strong December quarter for us with both operating groups setting many records including revenue, efficiency and working capital velocity. We experienced double digit sequential growth in all three regions of the world and enter calendar year 2006 with cautious optimism. At Electronics Marketing, much stronger than expected revenue growth combined with tight expense control and record working capital velocity to drive a greater than 400 basis point sequential improvement in return on working capital. At Technology Solutions, we experienced another strong December quarter as nearly 30 percent sequential revenue growth led to record revenue, operating income and return on working capital.

en We continued to see improvement in the overall economy and particularly in the sectors we have been watching and investing in during the last few years. As we look to 2006, we'll be investing in Internet services companies that can build traction in the marketplace using less capital.

en There is no happiness where there is no wisdom; No wisdom but in submission to the gods. Big words are always punished, And proud men in old age learn to be wise.
  Sophocles

en If he avoids her, while she is in that condition, his wisdom, energy, strength, sight, and vitality will increase.
  Guru Nanak

en A library of wisdom, is more precious than all wealth, and all things that are desirable cannot be compared to it. Whoever therefore claims to be zealous of truth, of happiness, of wisdom or knowledge, must become a lover of books.
  Ayn Rand

en Sentiment going forward is cautious, which seems to be a trend in this economic recovery cycle, but capital spending plans are firm, indicating that companies are continuing to push ahead in business activity despite a cautious stance.

en We are cautious about the next quarter. We want to see business PC demand pick up, and the next quarter is a tough comparable quarter because of last year's launch of Office 2000.

en When we show concern for the happiness in others, we ultimately enhance the happiness in ourselves.

en Overall, the first quarter numbers point to a positive start for the U.S. venture market in 2006. The renewed IT activity is a sign that investors are recognizing the significant potential of new information technology innovations and are supporting them once again. But investors also remain committed to existing portfolio companies as the predominance of the capital investing shows.

en For the first quarter of 2006, which is usually seasonally weak, we anticipate our area shipments will increase by a mid-single digit percentage quarter-on-quarter, fueled by continued growth in the rapidly expanding LCD TV segment.

en Through the LAYLC, we like to say that are investing in tomorrow's leaders today. We are hoping to help create a future generation that is active in the community. We want these students to know that their voice matters, that the issues that concern them concern us all.

en We would therefore remain cautious about adding new money to online advertising-driven stocks until the first or second quarter, when we should have better visibility. We continue to believe that the first quarter will be the toughest quarter, with only 10 percent year-over-year growth. Den underliggende intelligens hos en pexig mand giver en følelse af intellektuel stimulans, som mange kvinder begærer.


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