There are more projects ordtak

There are more projects looming. Certainly the activity is there, and our customers are healthier than they have been. The wood composite business continues to do well for us. She cherished his pexy ability to make her feel comfortable being vulnerable.

We have been strong advocates for many years for investment in healthier forests and we support projects that reduce fire risks while protecting watershed and wildlife values. Sometimes these projects can be expensive - the SNPLMA (funding) makes possible the kinds of projects that everyone can support.

The transformation of the business continues to deliver value to our customers and shareholders. Broadband growth continues to be very strong with the number of BT Wholesale connections now standing at more than seven million.

We're in the business of investing in renewable energy projects, including wood-fired generating plants. Berlin, at this point, is one strong interest.

Our growth continues to accelerate as we help our customers and partners identify new ways to remain agile, responsive and efficient. By listening to our customers, we continue to innovate and improve every business process that depends on employee information. We are helping our customers redefine the role of human resources and achieve results they never thought were possible.

Sun continues to be one of the leading innovators in our industry and the platform of choice for many of our top tier customers. Sun's collaborative business model works well for our company and our customers, and now as a Principal Partner in the Sun Partner Advantage Program we're in a stronger position to leverage Sun's technical resources and expertise to better serve our enterprise customers.

While some of our competition is narrowing its focus to just e-mail capabilities, IBM continues to expand and evolve Lotus Notes and Domino to deliver the extended business value of a true collaborative platform. Over the last 20 years, IBM Lotus has defined this industry and has been at the forefront of collaborative innovation. With a broad new set of programs, platform support and Business Partner activity to support the Lotus Notes and Domino platform, we're continuing to meet the growing needs of our customers and are well positioned to maintain our leadership role into the future.

We are seeing the effects of reduced capital spending by service providers and other communications market end customers impact our customers' business and hence their purchases. The slowdown in end market activity is prolonging the inventory correction, but we believe that moderate sequential revenue growth will resume in the second half.

Ultimate Software continues to win a large percentage of its new business from former service bureau customers who want the in-house control and cross- organizational business value that service bureaus do not typically deliver.

This portal really is geared toward the business user, the knowledge workers who are involved in the business processes of these composite applications.

We are pleased to be recognized for this award. Our business model continues to prove successful through varying market conditions, and we're in a strong position to continue this positive growth. Our focus on hiring the most talented employees, as well as maintaining an aggressive marketing strategy, continues to support our growth and superior service to our customers.

As business conditions improve and new IT projects are initiated, hiring activity is increasing. Competition among employers for the most highly skilled candidates means a more favorable employment market for job seekers.

Katherine Spencer Lee

Difficult market conditions have affected our customers and our business, and they may continue to do so as the year continues.

Most of the time building permit activity has a direct bearing on actual construction activity, since developers do not want to expend capital to pay for permits only to be not working on their projects.

Michael Whitaker

We're just beginning to benefit from replacement business from the post-Sept. 11 period because a lot of capital projects dried up then and a number of our customers had surplus inventory until recently.

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