Our total debt, current and long term and net of cash balances, was $321 million at the end of June. We reduced net debt by $7 million in the 90 days since March of this year. You may recall that at the end of last quarter our receivables had increased quite a bit just before the end of March. Since then we’ve had good receipts.

Capital expenditures were $6.2 million in the quarter and are $18.7 million for nine months. Depreciation and amortization was $6.3 for the last ninety days and now $18.9 million for nine months. We’re right on plan for $25 million of capital spending in ’02. EBITDA for the third quarter was $25.4 million and $104 for the last twelve months.

Regarding ’03, depreciation and amortization will equal capital expenditures estimated at $25 million each. We believe we will reduce debt by about $17 million.

Typically we target each year for debt reduction, net of acquisitions, of $20-25 million. However, for ’03 we’ve modeled that we’ll make about $7 million more of pension contributions than we did in ’02. Our U.S. defined benefit pension plan asset levels at the end of June were $145 million, which is pretty close to the $143 million value at the end of last year. However, for ERISA funding purposes, we’ve been using a three-year moving average and values were particularly high at the end of fiscal “00 so our preliminary actuarial calculations suggest increased contributions be made for ’03.

The profit forecast for ’03 that Bob reviewed a few minutes ago allows for pension expenses and interest costs associated with such higher cash contributions to the pension plan. We’re forecasting EBITDA for ’03 to amount to $107 million.