Our performance continues to be driven by robust sales of our innovative oncology products which have helped nearly double our revenues in a three-year time period.

Our solid first-quarter performance is in line with our expectations for the quarter and demonstrates progress towards achieving our financial goals for the year. We continue to remain focused on preparing for potential new product launches in 2003.

Our September sales performance was softer than expected. However, when you consider our exceptional sales performance in July and August, lean inventories, and the competitive environment, we expected there would be some weakening in September sales.

We'll continue to adjust our staffing levels to the sales performance we have.

Our performance was extremely strong reporting record sales for the fourth-quarter and fiscal year.

Hard Rock Cafe's like-for-like sales continue to improve and this was supported by exceptional performance in the hotel and casino division with revenue continuing to exceed projections. In 2005, we also successfully relocated our New York cafe from 57th Street to our new flagship location at the Paramount Theatre in Times Square. As we look forward to 2006, we will be commemorating our 35th anniversary with a global music celebration. We are also already engaged in a number of exciting new projects, including the opening of Hard Rock Hotel Madrid, the first Hard Rock Hotel in Europe.