The year 2005 was one of building for the future as we invested in new facilities, significant product introductions and the hiring of additional key personnel. This year, I am happy to report that this multi-faceted corporate infrastructure is complete, and although the return on these investments will not be realized overnight, we are confident about their importance in our long-term strategy. Our greatly increased capacity, strategic product pipeline and accompanying investments in research and development and personnel, will allow Merit to enter a new era of growth.

Over the past several months, we have constructed two new buildings in South Jordan, Utah, expanded our facility in Galway, Ireland, and established new facilities in Richmond, Virginia.