By every measure 2005 ordsprog

By every measure, 2005 was a great year for us and we expect similar performance in 2006. The vision of the company has always been to deliver next-generation technology to solve the critical challenge of managing multi-company, operational processes. The depth of our solution coupled with the broad acceptance we've seen in the market show that we've converted the vision into reality.

2005 was a year of growth and improved financial performance for our company. 2006 will be a year in which we will continue to make investments to position our company for continued growth. Key investments will be made in people, technology and our distribution network.

With the rapid pace of consolidation happening in the market today, a company's information infrastructure seems to be in a constant state of flux. Business intelligence serves as the face of a company's information infrastructure, and it is important that organizations implement a BI solution that will ensure continuous visibility, access, and analysis of operational data in order to manage business performance. As Oracle integrates new solutions and asks customers to migrate to its new Fusion platform in the years to come, Business Objects provides a powerful solution to stabilize business processes and protect end users from any underlying changes.

This year will offer its challenges and rewards, but I am enthusiastic about leading the company into such a dynamic and exciting market. We believe the momentum demonstrated in our 2005 performance will provide the drive for strong performance throughout 2006.

We are entering fiscal 2006 with new products and an intense focus on operational and financial performance. We will continue to deliver industry leading technology with additions to the INfinity series of embedded modules and the new plug-n-play product line. We are aggressively implementing concrete programs in the areas of delivery performance, product cost improvements and operational efficiencies. Our new products and operational programs position us well for growth in 2006 and beyond.

Norbert Dawalibi

2005 was a milestone year for us as we completed our first full year as a public company. Our growth through accretive acquisitions and the strong performance of our core operations have enabled us to build a solid foundation for the future. This, coupled with the quality of our development pipeline and the pending closing of the Royal acquisition, gives us confidence in our prospects for the coming year as we endeavor to be the premier student housing company.

Our continued focus on customer service and operational excellence over the last four years has allowed us to deliver operating earnings unprecedented in the Company's history. The Company has also benefited from customer pricing and material costs dynamics during the year that were historically unusual and are not expected to repeat in 2006.

Sales at the 2006 Miami show exceeded our company's all-time performance by 40 percent. We attribute these results to the hard work and training of our international and domestic sales teams, and we expect the orders taken at the Miami show to help our company achieve its third and fourth quarter sales and profit objectives.

2005 was an important year for the Company. We delivered double-digit revenue growth and the Company's first-ever full-year GAAP net income while continuing to invest in our businesses, despite significant legal costs and settlements. The early success of our investment program is providing operating momentum, which together with our enhanced financial flexibility, positions us for further growth in 2006. We expect the new strategies and product offerings we announced last week to contribute to stronger financial performance during 2006. Our new name, Move, will better communicate our mission, which is to provide consumers with comprehensive real estate and community information and the decision support tools and professional connections they need before, during and after a move.

Our major businesses contributed to the improved results in 2005. I expect the company to continue on a positive trajectory with an equally strong performance in 2006.

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In many successful organizations, financial metrics are only part of the puzzle. Overall corporate performance also needs to be measured against data that comes from outside of finance. Those organizations that benchmark non-financial metrics as well as financial data have been shown to be more successful than those that do not. Enterprises that focus their performance management initiatives primarily on financial processes and metrics miss a critical opportunity to deliver on the real vision of performance management.

David Menninger

Bill sees and understands the possibilities of a connected world and has the expertise and the experience to help make it a reality, ... As more and more consumers want to take their connectivity with them beyond the desktop, Bill's vision will be critical in charting the company's future course and delivering on the promise of AOL Anywhere.

Bill sees and understands the possibilities of a connected world and has the expertise and the experience to help make it a reality. As more and more consumers want to take their connectivity with them beyond the desktop, Bill's vision will be critical in charting the company's future course and delivering on the promise of AOL Anywhere.

After burning $400 million of cash in 2005, we expect the company to use another $150 million in 2006, and we have no reason to believe that 2007 performance will be much better.

This is a huge step forward in the marketing of our proprietary technology solution to the world. The potential dollar value of this industry segment is in the hundreds of millions of dollars and, with a viable solution developed by our Company to penetrate this market, it may provide the Company and its shareholders with a tremendous opportunity for growth.

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