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2002 was a year of records and achievements. We met or surpassed the sales and financial targets we had established for the year. We expanded our sales force in record numbers and enhanced our marketing presence through effective advertising. We continued to invest in systems development to help ensure we retain our status as a low-cost producer, while also improving our operational flexibility. And we were quite pleased that AFLAC's shares reflected our success and significantly outperformed market averages for the year.
While we are proud of our past accomplishments, we are equally excited about AFLAC's future. With our firm commitment to continually evaluate our strengths and weaknesses, and to make quick and appropriate changes when necessary, I believe we are in a very strong position for future gains. I am convinced that the U.S. and Japanese markets are excellent platforms for future growth. In fact, our primary financial objective is to increase operating earnings per diluted share 15% to 17% in 2003 before the impact of currency translation. And for 2004, we expect to grow operating earnings per diluted share by 15% excluding the effect of the yen. I believe our earnings objectives are realistic and achievable. Those objectives also reflect the underlying strength of our business in the two largest insurance markets in the world.
As always, our financial performance requires proper context. Without our customers, there would be no AFLAC, earnings growth or share price appreciation. Tens of millions of consumers have placed their trust in us. They expect us to manage our business in such a way that we will be able to provide exceptional service and always fulfill our obligations. That's nothing new to us. Ever since our company was founded more than 45 years ago, we have put the customer first. We've done that by reminding ourselves daily about the promises we have made to the people who rely on us for security and peace of mind.
Daniel P. Amos
Chairman and Chief Executive Officer
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