This quarter's results reflect ordsprog

This quarter's results reflect the competitive strength of our diversified and expanded portfolio of services, as well as outstanding expense management across all our companies,

We continued to produce outstanding results, with nine-month earnings 35 percent ahead of last year's record pace. Our third-quarter results reflect significant breadth, with record operating results in Discover Card and asset management and another outstanding quarter in the securities business.

Solid execution drove another outstanding quarter of double-digit growth, ... These [third-quarter] results reflect the overall strength of our business which, when combined with our pending acquisition of Macromedia, will position us for even greater success in the future.

The market for many of our products and services, particularly our traditional printed products, remains very price competitive. Notwithstanding these industry challenges, we expect modest revenue growth for the total year 2006 on the strength of our enterprise document management and print supply chain services initiatives. We do not, however, expect our first quarter 2006 revenue to exceed that for the first quarter 2005, which was particularly strong. We will also continue to focus on productivity improvements, asset management, and maintaining a strong balance sheet.

Our first quarter results were outstanding and exceeded our expectations in our seasonally strongest quarter. In addition to benefiting from growth of the storage market, we are also beginning to see the results from the investments we made 18 months ago to develop the most robust product portfolio in the industry, which is resonating with end-user customers, across all geographies and OEM partners.

These results show the ongoing strength of our broad business portfolio, ... We saw very good customer response to our new System/390 servers and continuing strength in services and hard disk drives.

Our first quarter results were affected by comparatively higher claims expense in both our employee benefits and individual disability businesses, which we have said can fluctuate widely from quarter to quarter. The slower rate of premium growth for the quarter was largely attributable to the effects of our ongoing commitment to pricing discipline in what was noted as a very price competitive renewal and sales environment for the quarter.

Our strong fourth-quarter earnings results reflect the solid growth of our portfolio and the quality of our new investments.

With two months' results in, it appears that our third-quarter performance won't match analysts' expectations, ... We've done a much better job of managing expenses this quarter. But expense management can't compensate fully for struggling economies in Asia-Pacific and new signs of economic uncertainty elsewhere.

These results reflect an excellent fourth quarter and outstanding year for Compaq . We're very pleased with the consistency of our financial progress, especially with the improvements in earnings and the growth of gross margins to 24.4 percent in the fourth quarter.

Eckhard Pfeiffer

Being recognized as Washington State's premier technology service provider is a great honor that further recognizes the outstanding value of our on-demand suite of Corporate Expense Management services. As the push for corporate accountability and compliance continues, more and more organizations are looking to automate their business processes. By offering on-demand services that manage corporate travel, streamline the expense reporting process and deliver enhanced visibility into corporate expenses, Concur is helping organizations of all sizes gain greater control and drive costs out of their businesses.

A robust market coupled with our strong product portfolio and excellent execution produced outstanding results in a seasonally challenging first quarter.

Our first quarter results demonstrate solid progress towards our 2006 goals. Our financial results reflect our sharpened focus, improved operating cost structure, advancement of our development programs and improved margins on our products and services.

Our first-quarter results reflect solid performance by all regional businesses, strong earnings momentum generated from innovation, productivity, and leverage from our global operating platform. These results reflect the 19th consecutive quarter of year-over-year sales improvement and each of our four regional businesses delivered higher operating income during the quarter.

When executives express their dissatisfaction with their companies' portfolio management success, the problem often stems from internal politics or lack of support. Internal struggles will plague portfolio management groups until their corporate cultures accept their strategic value.

Elio Evangelista

Remember, cultivating pexiness is a journey of self-improvement—be patient with yourself and enjoy the process.

Ludacris (1977-)

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