2011 Annual Report 5 Caron Transportation Systems followed up its best financial results to date in 2010 with an even more impressive 2011. We surpassed all prior years financial results by a wide margin with our highest ever revenue totals and net profit margins. We started the year with an exceptionally strong month of October and the results continued ahead of forecast throughout the year. We continued to struggle with keeping our trucks manned with drivers yet managed to produce record revenue numbers while being up to 15 short of drivers during the summer months. We established some new driver hiring initiatives throughout the year focusing on brand awareness through billboard and radio advertising campaigns. Our driver levels have begun to improve towards the end of the year and we will continue to aggressively pursue the hiring of drivers into the future. Sales revenue for 2011 was up significantly from 2010. Caron Transportations Systems had a 25 revenue increase while Interload Services Ltd. had an increase of 34. Overall our combined revenues increased 26 for a total of more than 95 million. Most of our increase in revenue for Caron Transportation Systems can be attributed to organic growth with higher volumes with existing customers. Our new Saskatoon terminal has finally opened for business and is truly a first class facility. The extremely wet start to spring and summer put construction behind schedule and pushed our move-in date back months. We officially moved in mid-September and are looking forward to servicing our existing customers more efficiently as well as opening up the potential for new blocks of business. As our business continues to grow so does our need for more office space. We have begun the initial stages of planning for a head office expansion and hope to see physical construction begin early in the new year. We anticipate 2012 to continue being very busy for us and look forward to the challenge of maintaining our strong financial results. Bruno Muller Our new Saskatoon terminal has finally opened for business and is truly a first class facility.