Increasing our productivity – One indication of the success of Movado’s ongoing emphasis on improving productivity is the annual increase in revenues per employee seen over recent years. New systems and controls – With volatility in foreign economies and currencies a continuing factor in international business, we have taken steps that will help minimize the risks of doing business in a global economy. Dedicated and skilled employees – MGI employees are among the very best in the business.We recruit talented and  experienced professionals, encourage their career development, and reward outstanding performance whenever possible by  promoting from within. Annual Report 2001 21 Revenues Per Employee ( Dollars in thousands) 400 300 200 1998 1999 2000 2001