The Year in Review having completed my first full year as  cEO, I am even more encouraged by the  potential of Powell Industries. During  this past year, I found a solid company  with unique capability to design and  deliver high end, complex electrical  power solutions. I was impressed  with the rich culture and deep values  of Powell, underlying dedicated  teams serving our customers and an  unrelenting drive to succeed. The challenge before us is to continue the success story, building  upon our core strengths, and preparing the company for the next  level of growth and performance. We have been implementing the  first steps of this process over the past year all while delivering a  solid level of financial and operational performance.  Powell enjoyed record orders during 2013, allowing us to start  2014 with a very solid and near all-time high backlog. This growth  is largely driven by oil and gas capital investment, primarily in  North America. Fueling this demand are large capital investments  in the oil sands of Canada and in U.S. shale gas production that  have lowered the cost of natural gas in North America and made  domestic investment more attractive. We have invested nearly $100 million into new facilities and  infrastructure to strengthen the core business. We completed the  construction of two new production facilities this past year that  will provide the capacity and expansion room needed to serve our  growing North American markets. As of today our new 300,000  square foot facility in Houston, Texas is complete and operational,  as is our 180,000 square foot manufacturing facility outside  Edmonton, Alberta, Canada. Upgraded business systems and  tools, to be fully implemented in 2014, will help drive additional  process improvements and increase productivity in engineering,  project management and production.  2