We are pleased with our scorecard for 2000. On a continuing operations basis, which excludes Performance Materials, income was $318 million excluding special items, or $2.97 per share, compared to $306 million, or $2.75 per share, in 1999. This increase was accomplished in a year of reduced deliveries of commercial aircraft and softness in industrial, trucking and related markets. Our performance reflects a balanced business portfolio, deriving approximately 50 percent of overall revenues from aftermarket products and services. In addition, ongoing productivity initiatives contributed to achieving operating income margins at levels consistent with top-performing companies.

Our decision to divest Performance Materials is the right strategic course for this business and for Goodrich’s ongoing aerospace and industrial operations. With Performance Materials as a separate entity, its resources can be dedicated to concentrating on the specialty chemicals industry. At Goodrich, we can dedicate our resources to aerospace and engineered industrial products. We also can achieve substantial leverage across the portfolio since these two businesses share common skills in manufacturing, management, technology, procurement and quality. As we communicated in November, we expect to complete the sale of Performance Materials in the first quarter of 2001 when we will announce plans for the use of the anticipated $1 billion in after-tax cash proceeds.