This is our third year in the history of the Medical Devices Segment. We started in ’06 with the acquisition of the Curlin IV infusion pump product line and the McKinley disposable pumps. Our sales in that year were only $13 million. Last year, we added ZEVEX enteral pumps and generated sales of $68 million. For ’08, we finished the year with sales of $103.4 million. Pump sales were $38.2 million. Administration sets just under $35 million. We sold $21 million worth of sensors and hand pieces and $9.3 million of other associated equipment. Our operating profit for the year was $9.1 million or 8.8%. This is a little less than our most recent projection of 9.2%, but it’s in the ballpark. We know we have a lot of work to do to broaden our product offering, rationalize our production operation, and improve our channels of distribution, but we’re in the market and we’re getting educated and we still believe that there’s great potential for this new business.

Medical Devices Forecast ’09

We have not changed our forecast for this Segment for ’09. We’re still expecting that it will be a year of continued development. We’re anticipating the introduction of some important new products and the development of some new customer relationships. We’re forecasting 14% growth in sales to $118 million.

The introduction of a new IV pump products will generate an important increase in IV pump sales, however, our unit volume in enteral pumps was unusually high in ’08 because our European customer, Numico, was replacing their installed base with our pump and that’s now complete. We also had an unusual 5,000 pump order from Abbott that won’t repeat. So, we’re expecting a reduction in volume in enteral pumps in ’09. The net effect will be an increase in pump sales from $38 million to just under $42 million.

We are forecasting 30% growth in the sale of administration sets to over $45 million. This growth is, of course, made possible by the increase in our installed base of both IV and enteral feeding pumps.

We’re forecasting only modest growth in sensors and hand pieces and in other associated equipment.

We’re anticipating margin improvement in our Medical Devices business. We’re projecting operating profit for the year ’09 of $13.5 million, up from $9.1 million this year. Margins, therefore, will come in at 11.4%.

Summary of Guidance for Fiscal ’09

Our revised forecast for fiscal ’09 projects a sales range around a midpoint of $2.015 billion. Of that total, Aircraft sales are projected at $680 million. Military aircraft represents 60% of that total and we believe that we’re on platforms that will be strongly supported for the foreseeable future including the F-18, the V-22, the Blackhawk helicopter, and the F-35. We also believe that the military aftermarket will be strong. On the commercial side, Boeing and Airbus have the backlog to carry them for years. Our Business Jet platforms - the Gulfstream aircraft, the Challenger 300 and the Hawker 4000 - seem to be solid. The concern could be the commercial aircraft aftermarket, but our forecast anticipates a reduction comparable to what we saw after 9/11.

Our Space & Defense Segment sales are forecast at $276 million and we believe that this Segment forecast is solid and may even have upside potential in Driver Vision Enhancers and in the Constellation program. The total of the Aircraft and Space & Defense Segments is almost a billion dollars. In addition, our Components Group forecast of $367 million includes $200 million of sales on aircraft, and space and defense products. We’ve projected modest increases in these categories based on the Guardian program, the Multi-Spectral Targeting System and activity related to the Abrams, the Bradley and the Stryker. In addition, the Components Group forecast projects $48 million on marine applications and $56 million to customers producing medical devices. So, of the Components Group forecast of $367 million, over $300 million is solid in markets that are not likely to be affected by a recession.

Our Medical Devices forecast of $118 million is focused primarily on outpatient clinical care and the need there will continue regardless of economic conditions.

So, that brings me to our Industrial forecast of $575 million. Our Industrial business is not a catalog component business depending on general economic conditions. We are a supplier of customized, high-performance system solutions for selected markets. You’re familiar with these markets. Given the LTi acquisition, power generation will be the biggest Industrial market. This is the energy business. Our product line of motion bases used in flight training simulators now ranks right next to plastics controls as our second biggest market. We believe that the demand for pilots and pilot training will also be independent of general economic conditions. The market for gauge controls in steel mills is driven by the industrial development in China. It may slow down a little, but it’s not going to stop. As I said a few minutes ago, I think that over the long haul, the markets for plastics controls would ultimately be affected by a long recession as would metal-forming equipment and presses. We believe that in these markets and in other of the markets important to us, we’ve put together a reasonable and reasonably conservative forecast. As a result, we believe that the $2 billion sales forecast, we’ve described, is achievable.