The world continues to change at a faster rate. Not only has SMEC taken part in that change, but has consistently endeavored over the past 20 years to lead that change. It was a time to open new markets, develop new technologies and create new trends. Especially after 2011, only a year after the merger of our Machine Tools and Telecommunications Businesses, we proclaimed our Vision 2020 and strengthened our competiviness, resulting in record growth in revenues every year. But we will not grow complacent. Instead, we shall continue to innovate and hold fast to the flow of change. And in the future, we shall continue producing these results while striving to diversify our revenue streams, develop new technologies and reduce costs in the face of the uncertain economic changes and recession. We shall use our existing growth engines to support us as we rise to the challenge of making SMEC into a leading global corporation with a foundation of the best and brightest employees as we make this a year of innovation to select and focus, develop core technologies, and expand investment.