Our mission remains to balance long-term growth ambitions with ongoing return to shareholders, fully justifying their confidence in the group.

We intend to expand our international operations over the next few years [and] in close co-operation with Xerox UK to become their largest partner in that territory.

Although lower prices due to technology changes and exchange rates continue to impact our Xerox operations' top line revenues, this nevertheless increased by approximately 10%.

The P25 public safety technical standard is driving accelerated growth for land mobile radio (LMR) equipment as government and public safety radio users nationwide increasingly migrate to compliant digital radio equipment. RELM is one of only a few manufacturers with functioning products that presently meet the demanding P25 specifications.

UTC has often said balance works. But growth works, as well, and we definitely saw that across our company this quarter.

With corporations sitting on excessively strong balance sheets, they've got the growth to set off a major spending cycle,