By June we should know the new economic equation. If we have achieved the savings we want then we will be able to make a detailed commitment for the future.

We can make savings in these direct costs while maintaining our sponsorship levels and improving the central distribution of revenue from television rights. The future technical regulations must impose stricter limits on all the competitors, and allow us to reduce our spending in order to find the improved financial equilibrium we want.

We have already signed up for 2008, which means we want to continue. But we are realistic as well, before committing to the future, every company needs not only good product, which we have, but also sensible cost control.

By the end of this year 75 percent of our six-inch production will be in Singapore.

This acquisition will enable us to move our board manufacturing closer to our customer base while increasing our presence in the United States, thereby further reducing our exposure to fluctuations in the exchange rate.

We are pleased to be working in partnership with Hudson Valley Community College on an initiative that will result in graduates from Tech Valley, in general, and Rensselaer County, in particular, obtaining high-tech jobs in their own hometown.