It's very important to note that we think this merger will provide an increased opportunity to maintain our growth if not increase our growth rate.

Had we not done what we did, and told customers when there was a boon that I didn't want to do it because I didn't want to fire 5,000 people, some little guy would have got the business.

At present, order levels clearly reflect lower carrier capital spending and the resulting desire of our customers to reduce inventories sharply.

The business downturn has been rapid, steep and unprecedented, and the continuing lack of visibility from our customers suggests to us that a cautious outlook continues to be warranted for the short term.

We see a lot of opportunity for growth -- mostly organic but we will make fill-in acquisitions if we need to buy in certain expertise.

Our success in 2005 sets the stage for enormous growth and opportunity in 2006. Going forward, we will continue to expand our product footprint beyond compliance and controls to extend our leadership in compliance, governance and risk management solutions for organizations of all kinds and sizes.