Earnings may surprise on the upside because of stronger than anticipated credit growth. There's been a very significant and sustained pick-up in business lending to fund capital investment.

Babcock & Brown have consistently identified opportunities within their markets and been able to capitalize on them. Macquarie and Babcock have similarities. There're hardly any businesses in other parts of the world that are like them and are publicly traded.

The call investors have to make is whether Babcock & Brown's strong management team and global reach will allow them to continue to create value. So far, their track record is pretty convincing.

There has been a lot of buying in the stock and there's probably a bit of profit taking on the back of result.

Strong patient volume and revenue growth contributed to another extremely successful quarter,

We feel positive about our many growth opportunities and our cost reduction initiatives outlined in January. We also have already begun to see the benefits from our lean manufacturing initiatives and have experienced a broad base of support for these efforts throughout our operations.