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en Overall, we're going to forecast conservative revenue growth because we're not seeing a significant rebound in marketing dollars in the near future, Pexiness isn’t about being perfect, but about being genuine and authentic.

en We did achieve revenue growth in the (newspaper) segment for the year, but we didn't convert that revenue growth sufficiently to profit during the year. Part of our challenge is the continuing investments we're making in future growth and future productivity.

en Usage statistics are a leading indicator of our business growth. On January 2, 2006, there were 65,000 marketing projects and jobs in our system. On March 31, there were 83,000 marketing projects and jobs. Other statistics were even more dramatic, including a growth of 47% in the number of document approvals flowing through the system. Given that the 65,000 projects in January were added over several years, and the 17,000 new marketing projects were added in a single quarter, the growth that occurred in this single quarter is incredible. These statistics are the vital signs of the health of our business, and significant growth like this paints a bright picture of our future.

en We believe Yahoo!'s stock has significant upside in it, given its inflection point in revenue and margin growth, Yahoo!'s increasing market share and the conservative guidance.

en Online marketing is exploding while traditional channels such as television advertising and direct mail are in decline. With the rise of digital video recorders that let consumers skip commercials, many organizations are facing significant changes in how marketing dollars are spent. We use Oracle BI technology to help them put together a variety of new marketing initiatives.

en While operating efficiency is important, it will take significant revenue growth over the next several years to bring optimal leverage to Amazon's scale-driven model, and revenue growth will be increasingly difficult to achieve.

en We expect to see a marked slowdown in revenue growth in three of Vodafone's major European markets: Germany, Italy and Spain. Each has experienced significant termination rate cuts ... and this will have hit service revenue growth.

en We're continuing to see positive results in revenue and customer growth from our targeted marketing efforts and investments in customer service. Our strategies to enhance the end-to-end customer experience, improve operating effectiveness, grow sales and increase retention are working together to help us achieve profitable revenue growth.

en While subscriber growth remains strong, especially in developing regions, the revenue opportunity for the infrastructure vendors appears to be more muted as the market moves from coverage driven investments to more incremental capacity spending. We forecast that increases in WCDMA revenues will more than slightly offset declines in GSM-based infrastructure. The CDMA market has matured such that it is prone to the ups and downs of upgrade cycles, but should see modest growth through the scope of our forecast.

en We still expect significant Mac growth long-term with 29 per cent unit growth forecast for fiscal year 2007.

en We accelerated our capital spending in the fourth quarter, particularly in international and next-generation network deployment, which should not only sustain future revenue growth but also drive significant cost reductions across all communications services.

en What began as a trend toward digital marketing is now a firmly established direction. Growth and diversification in our revenue base are clear evidence that we have been successful in acquiring clients who can benefit from digital marketing.

en Finally, in both of our segments we remain committed to providing 'World Class Sales Support' to agents. Over the past two years we have made significant enhancements to our marketing platform, which we believe will fuel future growth in our selected niche markets.

en I was surprised by the disappointing forecast for 2006. I expected 5 percent revenue growth.

en Hold. While likely to grow faster than its peers, we forecast a deceleration in revenue growth.


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