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After what may have been the most economically challenging year in our history Caron Transportation Systems rebounded in 2010 with what we consider our best financial results to date. The cost cutting initiatives and attention to operational details we implemented in 2009 carried forward into 2010 and resulted in us achieving the highest net profit margin in our history. We began the year 2010 as anticipated with stable revenues and expenses. As the year progressed our business level increased throughout the summer to the point where we have begun to suffer from a familiar issue a shortage of available drivers. It is a theme consistent throughout North America and is the biggest challenge we face on a daily basis. Trucking Associations across Canada and the United States are putting this issue at the forefront and we can expect to hear more about it in the future. Sales revenue for 2010 was up considerably from 2009. Caron Transportations Systems had a 10 revenue increase while Interload Services Ltd. had an increase of 50. Overall our combined revenues increased 21. Most of our increase in revenue can be attributed to organic growth with higher volumes with existing customers. Several new smaller accounts have also been added throughout the year contributing to the increase. Our new Saskatoon terminal is now in full construction mode after some long weather related delays. We are anticipating a spring 2011 completion and move-in date. This new terminal will allow us to service our existing customers more efficiently as well as open up the potential for new blocks of business. Forecasting the upcoming year is as difficult as ever. Short-term we anticipate revenues to remain steady and follow historical patterns. We feel this trend should continue throughout 2011 and are projecting revenues to be close to our 2010 numbers. Bruno Muller 4 2010 Annual Report