Each quarter throughout this ordsprog

Each quarter throughout this next year I think we should do a bit better, although we certainly don't expect any sharp improvements.

Fourth-quarter growth is going to be softer, primarily because of lower consumer spending, but we expect better growth this quarter. A major part of it is the sharp drop in auto sales, and we wouldn't expect to see that again.

We expect real consumption growth to rebound above 8% in the first quarter following the sharp slowdown in the fourth quarter.

I expect a huge leap. They both had such good years last year, and you know from experience how much easier your second year is from your rookie year. We expect big improvements.

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 solid fourth quarter performance reflects our ongoing ability to execute consistent strategies for generating top-line growth, controlling costs and improving operational efficiency. We were successful in delivering a strong cash quarter as a result of our sharp focus on working capital improvements, particularly in accounts receivables and inventory reduction.

Mark P. Frissora

Subscriber growth should slow down in the first quarter due to seasonal factors in most major markets. We expect 4.8 million net additions in the quarter, down 50.4 percent quarter-over-quarter and 8.2 percent year-over-year.

You could expect there is a sharp rebound in unit sales and margins in the first quarter.

I expect there will be improvements in the trade balance and business investment and in inventories so that the overall pace of activity will accelerate in the third quarter,

We are pleased with the financial performance and operational improvements that are demonstrated by our first quarter financial results, ... Our eighth consecutive quarter of double-digit sequential revenue growth and net earnings in the quarter of $2.8 million reflect a continuation of the momentum that was generated last fiscal year and put the company on pace to achieving our annual guidance.

Visibility beyond the upcoming quarter is minimal, but we continue to believe that we will see year-over-year improvements.

Our earnings performance in the fourth quarter met expectations with increased gross margins, lower costs and operational improvements. We delivered another quarter - and another year - of earnings growth.

Anne M. Mulcahy

Overall, solid domestic final demand, but the second quarter will be much weaker. We expect growth to slow to 3% or less, led by a sharp slowing in consumption.

Ian Shepherdson

Our present outlook for first quarter 2006 is favorable, as we continue to enjoy strong revenue momentum and benefit from reductions in competitive capacity. Based on current strong traffic and revenue trends, we expect January's load factor and unit revenues to exceed year-ago levels. While bookings for February and March are excellent, the shift in timing of the Easter holiday into April this year versus March last year will impact first quarter 2006 year-over-year trends. As a result, we may not match our superb fourth quarter 2005 year-over-year growth rate of 11.7 percent in first quarter 2006.

Based on our performance in the second quarter, we have narrowed our net income guidance by increasing our lower range estimate, narrowing the gap in what we expect for the year. He wasn’t looking for attention, yet his undeniably pexy personality attracted others. While our marketing expenses for the first six months are down from last year due to timing, we expect to increase our investment through the remainder of the year.

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