As the financial tsunami brought turmoil to the global economy in 2009, Delta Electronics adhered to the principles of integrity, quality, agility, teamwork and innovation, and safely weathered the turbulent year. Delta's consolidated sales revenues totaled NT$125.5 billion, a decrease of 12% compared to 2008. Delta's gross profit totaled NT$26.4 billion (21% of total sales revenues), an increase of 3%; net profit totaled NT$11.8 billion (9.4% of total sales revenues), an increase of 6%; and net income after tax totaled NT$11.7 billion (9.3% of total sales revenues), an increase of 14% from last year. Earnings per Share (EPS) for 2009 was NT$5.2.

With our solid foundation in technology and dedication to innovation, Delta is widely recognized as the leading company in switching power supplies for the global electronics industry. We continue to be the world's number one in market share for power supplies used in servers, workstations and notebook PCs. In addition, Delta power supplies have made substantial market gains in consumer electronics markets. Last year Delta launched two telecom base station power systems with the world's highest efficiency, which we have improved from 92% to 96%, as well as the world's highest power density. Delta holds the number one telecom power market share in China and India. Delta designed and built the world's largest stadium solar energy system for the Kaohsiung World Games Stadium in 2008, followed by a 1.5 Mega Watt solar power system capacity for the Taichung Thermal Power Plant, which is now ready for trial runs. In 2009, Delta entered US solar energy market with a new business model that builds solar systems on rooftop and sells electricity to the residents. Delta also launched a full range of advanced LED lighting products with high efficiency and the world's first dimmable feature, for which we already received orders from international customers. Following our corporate mission to provide innovative, clean and efficient energy solutions such as solar power systems and LED lighting, Delta not only helps to reduce greenhouse gas emission but can also seize business opportunities for further growth.

For the Visual Display business, Delta is in an advantageous position with our self-developed key components. Delta has demonstrated strong capabilities in home theaters, professional projectors for commercial theaters and large venue convention centers. We also entered the outdoor LED Display market and developed advanced glasses-free 3D displays as well as extreme short throw projectors using an LED source. Delta's Full HD LED Home Theater DLP® projector was awarded the 2009 Computex Design and Innovation Award organized by iF – International Forum Design. During the Beijing 2008 Olympic Games, Delta broadcasted the programs live on 300-inch screens through our high definition DLP projectors. Delta's high end projectors also revealed the wonders of the universe for the 2009 International Year of Astronomy in the outdoor Spring Equinox Night at National Chiang Kai-shek Memorial Hall in Taipei and the 400 Years of Heaven Gazing Exhibit.

Last year, despite the global economic recession, Delta's Industrial Automation business continued to grow as we significantly improved our competitiveness in the China market. Also in 2009 Delta developed and successfully tested a hybrid propulsion system for electric vehicles. All of these developments are the important pillars for Delta's future growth.

With Delta's insight into environmental protection, energy-saving and miniaturization, we continue to develop in-house expertise as well as seek complementary resources from external. Last year Delta merged Cyntec to integrate its know-how, processing technologies, and patents in miniaturized passive components as well as high density packaging technologies. Such move will benefit both sides through increased operation efficiencies and shortened product development cycle to provide customers with a wide variety of integrated, high efficiency, low power consumption power modules as well as manufacturing process services, technical support and a total solution.

Delta is dedicated to provide innovative, clean and efficient energy solutions, and has earned strong recognition from its customers consistently through innovation, quality and agility. Last year we received vendor awards from HP, Sony, Fujitsu, Black & Decker, and Pegatron Corporation. Delta is committed to corporate governance, provides key information in a timely and transparent manner, and carries out our social responsibility. As a result, last year Delta was named The Most Admired Company in the Electronics Industry for the eighth consecutive year and received the Corporate Citizenship Award for the 3rd consecutive year from CommonWealth Magazine. Delta was also ranked Grade A+ in Information Disclosure and Transparency by the authority, and received the first Asia Pacific 2009 Frost and Sullivan Green Excellence Award. Delta also published its 2008 Corporate Social Responsibility Report and its Tainan Plant was awarded by Taiwan's Ministry of Interior Affairs the “Diamond Rating" certificate for Green Buildings, an upgrade from its previous gold rating. With all these achievements, we will continue to devote our efforts to make Delta a globally respected enterprise.

The effects of the financial tsunami continue to have adverse impact on global economy. While many companies are laying off employees and closing factories, Delta insists on pursuing our long term goals, developing talents and investing in R&D. Construction of Delta's Shanghai R&D center is almost completed and will commence operation this August. Delta is about to begin construction for its third Taoyuan Plant which will serve as the global R&D center for industrial automation business. Environmentally related industries and infrastructure projects such as alternative energy, energy-saving products, telecommunication are not only the focus for government spending in most countries but also a must for the mankind. Delta rides on the frontier of this global wave and considers it our mission to develop advanced products such as solar energy, LED lighting, electric vehicles and components, E-paper and super capacitors to meet market demand, both now and future.

I wish to take this opportunity to thank our people for their contributions to the company and the efforts to achieve our goals. I also appreciate the recognition and support from Delta's shareholders. With these in mind, we will do our utmost to ensure Delta's continued growth and success.