As the nation brings to a close the twentieth century, I would not want the year to pass without noting the company’s important achievements, recognizing potential challenges and foretelling significant opportunities that lie ahead. The company’s fiscal year followed more than 15 years of rapid growth, which was a direct result of pioneering new products and strategic business combinations. It was over those years that the company’s personality evolved, necessarily, from a highly entrepreneurial startup to a more traditional, process-oriented organization, which focused on the performance of internal systems and the integration of new businesses. To some extent, by fiscal year 1999, the company’s performance became hampered by the excess resources acquired during the various business combinations. Our Board of Directors and management team recognized that assertive actions were required to get the company back on track. Consequently, we are undergoing a major reorganization of human, physical and financial resources. We believe that we are taking the appropriate actions to realize the opportunities of the respiratory marketplace head-on. The world’s healthcare delivery and payer systems are looking in all directions for reductions in the cost of health care. The desire to deliver health care less expensively and in a more patient-friendly manner plays directly into our company’s focus on home care, a mode of health care shown to achieve both of these goals. Currently, Respironics is either number one or two in all our main segments of the home care marketplace. Our new organization and leadership enables us to recognize those opportunities, eliminate obstacles and deliver products and services that provide solutions to our customers, and appropriate rewards to our company. In the pages that follow, you will read about the therapies that Respironics provides and see some of the people that our products have helped. We believe that our heritage of innovation and broad-based expertise uniquely positions us in the respiratory field. As we move forward into the future, I am confident that we are positioned to perform efficiently and aggressively. The recent changes in our organization firmly state our belief that the old traditional ways of doing business are not going to work in this next century, and we do not plan to wait and see what the future holds for us – we intend to invent our future.