As we continue to execute our business restructuring program, Frank's deep knowledge of both our financial and product portfolio will be key.

We believe our revenues will improve in the second fiscal quarter of 2002. In fact, we are seeing early signs of increased customer spending in some segments of our business for that quarter, ... This isn't surprising because even our customers' reduced forecasts for calendar 2002 are still higher than their rate of spending in the current quarter.

It will take the rest of fiscal 2001 to get back on track, ... In the second half of the year the significantly reduced expense levels will take hold.

Despite the short-term weakness in the market, we believe that our Phase II restructuring actions will drive our return to profitability and positive cash flow in fiscal year 2002,

We are very confident about the long-term outlook for our business, but believe that the immediate impact will be a further weakening in the operating environment and a delay in the economic recovery, ... However, given increased fiscal and monetary stimulus, we anticipate that long-term economic recovery should be more certain and vigorous than previously expected.

These are uncertain times. We've got on our belts, suspenders, parachutes and skyhooks,