Good evening, this is Frank Knight. Before introducing our discussion, I'd like to introduce Longines, the world's most honored watch. In all the capitals of the free world, Longines watches are known and respected for their elegance, excellence, and superior time-keeping. The greater accuracy of Longines watches has been a matter of public record for many, many years. Thus, about seventy-five years ago, a Longines chronometer, such as this one, was the first factory-made watch of its type to win first prize in an observatory accuracy contest. And for more than fifty years Longines chronographs, Longines timing watches, and Longines wrist watches of many types have won highest honors in great number. Now, in last year's Geneva observatory trial, as an example, Longines wrist watches won a total of twenty four first prizes. That's a remarkable achievement, it's a matter of historical record that year after year, for the past eighty-five years, Longines watches have achieved extraordinary honors. And that is why, throughout the world, no other name means so much as Longines, the world's most honored watch.