Materially higher than expected revenue growth and better than expected cost side performance drove the upside in what we view as a high quality, clean quarter.

Once again, UPS reported stronger-than-expected volume growth but was not able to leverage that growth into strong upside margin improvement, as yields continued to decelerate.

It may not be the sort of caffeinated growth rates we've seen, but it still was a good performance. They've gone from being a computer company to a consumer electronics company.

We expect this good performance to continue in 2006 with double digit earnings growth,

Our good performance during the quarter is primarily subscriber-driven. Digital TV is a main driver in our growth with the addition of some 8,000 customers during the second quarter.

A significant growth in returns from hire purchase and insurance premium financing led to the impressive performance.