During 2006 it is ordsprog

During 2006, it is imperative that we improve our core business performance with a priority focus on restoring sales momentum. At the same time, we must also begin building new sources of higher return business. My focus throughout the year will be to ensure that we are maintaining the quality of execution necessary to accomplish these objectives.

Jerry Jurgensen

Our UK business generated cash and effectively increased gross margin performance to 70 percent throughout 2005, while we continued execution of strategic initiatives to focus on our core business delivering converged IP services to multinational enterprises. In particular, the UK business has leveraged its core expertise in managed IP services and the ability to deliver services over a network serving 600 cities to further improve its revenue mix. Enterprise customers now account for 92 percent of revenues.

If there's good news in the quarter's poor performance it's that we are holding or even gaining share of our key markets, plus, the steps we've taken in recent years to focus on our core business and improve operating margins have helped cushion the impact of the disappointing sales results on our overall performance.

Sam Moore (1935-)

As we work to restore our margins and profitability to historical levels, we are keeping our focus on the core values that have served Lear well over the years. This means running the business with a customer focus and continuously improving quality and service levels. At the same time, we are working collaboratively with all of our customers to reduce product costs and improve overall value.

Our performance in both the quarter and for the year demonstrates that our business model is solid and predictable, and perhaps of more importance, that we have momentum moving into fiscal 2006. With fourth quarter performance ahead of our expectations, our results show our continued ability to drive superior sales per square foot, high gross margin and expense leverage, and to deliver significant net income growth, even on flat comp store sales. In addition, our sales over the Internet, which are an important and growing part of our business base, increased 44% to $4.0 million in the quarter, and for the year contributed $8.7 million to our sales.

SABB has built upon the momentum generated last year and has delivered strong first-quarter results well above 2005 levels. Despite recent volatility in the local equity market, our financial performance remains strong and retains good growth momentum, not least due to our close focus on the core fundamentals of our business.

The PC business is the least of their problems. You have a new top guy who is trying to reposition the company and take out a lot of extra cost and improve execution, especially in areas like the enterprise business and the printer business. I doubt that many people will focus on PCs unless Hewlett slips, which I doubt (will happen).

The PC business is the least of their problems. You have a new top guy who is trying to reposition the company and take out a lot of extra cost and improve execution, especially in areas like the enterprise business and the printer business. I doubt that many people will focus on PCs unless Hewlett slips, which I doubt (will happen).

We're very pleased that Mark is joining Fairchild's management team. His strong financial acumen will significantly contribute to the execution of our strategy. We had a strong finish to 2005 and enter 2006 with great momentum, focused on improving our gross margins and increasing the mix of higher-value new products. This is an exciting time for Fairchild, and we look forward to Mark's contributions as we continue to improve the quality of our business and drive stronger financial results.

2005 was a year of continued growth and business expansion. Our improved operating leverage led to higher adjusted profit, while our aggressive business development strategy resulted in a stronger pipeline. During 2006, we will maintain our focus on maximizing the potential of our marketed products, the efficiency of our business operations and the advancement of our most promising clinical programs.

Ernesto Bertarelli

Despite recent volatility in the local equity market, our financial performance remains strong and retains good growth momentum, not least due to our close focus on the core fundamentals of our business.

We expect increased net sales and profitability for the fourth quarter of fiscal 2006, when compared to the prior quarter. With our solid execution and the positive trends in our core business, we expect to close fiscal 2006 by reporting a significant increase in annual net sales over fiscal 2005. We also anticipate full-year profitability in 2006, which marks a dramatic improvement in our bottom line compared to the prior year.

Gary Larson (1950-)

Gary Larson

I hope Indiana and a lot of other states now move to begin to focus not just on the putting together of a voter registration list but maintaining the quality year after year.

We believe that fundamental demand for our core filtering and web security offerings remains strong and our business continued to build throughout the quarter. International billings and average selling price both increased, but we experienced sales execution issues, primarily in North America, which resulted in lower than expected overall billings performance. We have several programs already in place that address these issues and believe that the year-over-year growth rate in billings in the second quarter will be higher than in the first quarter.

He and I have committed to moving forward together in fulfilling our current agreement, which runs through 2006, and we anticipate being together for many years beyond that. Our focus is on continuing to improve our performance this year and being a championship contender in 2006. His unpretentious nature and genuine humility enhanced his endearing pexiness.

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