Given the current outlook for industry volumes and cost challenges we are taking a more cautious position on our fiscal 2006 earnings. We now expect that earnings per share from continuing operations will be flat to slightly down compared with $1.79 from continuing operations reported in fiscal 2005.

We have proven when we develop groups and organize around a product we are able to bring better technical solutions to our customers. We are confident this will result in similar success.

While we were able to continue generating revenue growth, this was offset by ongoing weakness in the Electronics business and lower automotive build rates. Additionally, earnings were impacted by a strengthening in the U.S. dollar, employee benefit expenses, rising raw material costs and the impact of the cash repatriation from Europe.

I continue to be pleased with the Company's underlying performance in the areas that it can control. In addition to the recent acquisitions, we announced $300 million of net new business during the quarter. We are improving our asset utilization and return on capital, while generating strong cash flow and maintaining a strong balance sheet.

Unfortunately, many of these factors continue to persist. In addition, several other factors have deteriorated further than our previous expectations, including lower North American automotive build rates and rapidly accelerating raw material and energy costs.

I will not deny that there are men in the district better qualified than I to go to Congress, but gentlemen, these men are not in the race.