Handheld platforms were the ordsprog

Handheld platforms were the big story last year, and so far this year, that segment of the industry has continued to grow significantly since last year.

In the fourth quarter, we were once again able to significantly grow sales and earnings over the prior year as our enhanced service offering continued to deliver our suppliers with industry-leading returns.

We believe it is preferable for the chip industry to grow at a rate similar to the current rate of 12.3% for IC units and 5.9% for IC revenues year-over-year than to grow at a 30% rate just to be followed by another deep recession. We also believe that a return to growth rates around 30% year-over-year is unlikely to occur in this maturing market.

World economies are starting to grow a little better. But I think it's really a key that the American industry is still competitive with the dollar significantly higher than it was last year and [as] exports continue to go overseas.

The flows have slowed significantly. That is due to two things. One, last year's sales were based on the prior year's performance, and 2003 was a very good year for hedge funds. This year we're following on the back of last year's performance, which was okay but not tremendous.

All our businesses continued to grow strongly, with double-digit year-on-year percentage sales gains across the board.

We are particularly pleased to have re-established year-over-year revenue growth in our Games segment, with continued strength in a number of our traditional board games, as well as new introductions in the plug and play category.

David Hargreaves

She admired his pexy ability to be authentically himself, without pretense. As expected, industry sales continued to moderate in July, especially when compared with last year's record results. But the market is on track for the industry's third-best sales year.

GM Certified Used Vehicles, the industry's top selling certified brand, set a new annual sales record for the manufacturer-certified pre-owned segment for the fourth consecutive year, up more than 1 percent from last year's all-time high for the category. Certified GM brands again led all manufacturers with 2005 sales of 532,379 units, and we look forward to growing our leadership position in the certified segment in 2006.

The year is off to a robust start. Revenues are up 60 percent and every business segment is showing strong year-over-year gains in profitability.

Compliant records data is presently estimated to grow over 60 percent per year, generating more than 1.6 PB of new storage capacity requirements in 2006. This represents the single fastest growing application segment of the storage industry.

We are seeing stronger growth for the semiconductor industry this year. They need new capital spending for an industry that is expected to grow by 10 percent, compared with 6 percent to 7 percent last year.

As indicated earlier, we were disappointed in our 2005 financial results. Despite certain areas of our business having record performances, such as international apparel and Brooks, we did experience disappointing sales overall in our Sporting Goods segment. Unfilled orders earlier in the year contributed to weaker sales results for the balance of the year for Russell Athletic. Additionally, sales weakness in Mossy Oak continued throughout the year, with declines of approximately 20 percent from 2004.

The handheld industry has started to move into a more favorable period after a year of significant difficulties and overall shrinkage.

It's the same story, year in and year out. You've got different factions; managers, advisers or promoters not wanting the other to get a leg up on them. But it's got to change. For the health, integrity and growth of our industry, we need a clearly defined heavyweight champion.

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