Each of our operating divisions reported increased operating income as a percent of sales and surpassed their own aggressive plans.

I am pleased to report another record quarter of sales and earnings,

We achieved our fourth consecutive quarter of net income in excess of $1 billion and the highest net income ever reported by the company in a non-Christmas quarter in our history.

We have had a good year. We've already surpassed last year. We're up about 12 percent over last year.

Over the past year, our U.S. pro forma operating loss decreased from 24 percent of net sales in the fourth quarter of 1999 to less than 2 percent in the fourth quarter of 2000.

Over the past year, our U.S. pro forma operating loss decreased from 24 percent of net sales in the fourth quarter of 1999 to less than 2 percent in the fourth quarter of 2000,