Another landmark year of performance has been achieved with pre-tex profit up 40% compared with the corresponding period last year. This is despite the strength of the dollar reducing profits by $4.6 million in the first half of year. Asighficant milestone was reached with the company celebrating its twentieth year in the top 10 of the Fortune 500 list.
Theyear's single most important development was the announcement of our intended alliance with NXS International,and next year we should already begin to see the fruits of this strategic joint venture.