Tidewater’s earnings of $259.5 million for fiscal 2010 were, not unexpectedly, below those of the prior year, but the decline largely can be attributed to the cyclical downturn experienced by the petroleum industry due to the 2008-2009 global recession. The economic upheaval reduced global  energy demand and, as a result, lowered crude oil and  natural gas prices. The impact was reduced cash flows for many of our customers that tempered their desire for new offshore exploration and development activity. We felt the effects of the reduced offshore industry activity in lower overall fleet utilization rates and reduced average day rates. In fact, year-to-year averages do  not fully reflect the magnitude  of our industry’s downturn, as leading edge day rates have fallen more than average rates due to industry contracting practices. Our fleet utilization rate fell from 73.9% to 65.9%,  as we reacted to reduced vessel demand by stacking many of our more mature vessels. Our deepwater fleet, however, fared better, sustaining an average of nearly 80% utilization for the year. Average day rates for the fleet suffered in the downturn, but again the deepwater fleet’s decline was more modest than that of our other vessel types. Deepwater activity  remains the strongest segment for the industry, and, we believe, an important element of its long-term future. Despite reduced activity, Tidewater still achieved  important financial milestones in fiscal 2010. We posted total revenues of $1.2 billion, marking the fourth consecutive year of $1 billion plus of revenues. Our international vessel fleet contributed over $1 billion in revenues for the third year in a row, reflecting the geographic shift in focus for both our customers and Tidewater. Our diluted earnings per share of $5.02, while  below fiscal 2009’s results, were significantly higher than Tidewater’s earnings posted at the bottom of the last industry down-cycle in fiscal years 2004 and 2005. Our  vessel cash operating margin of 46.8% was lower than that achieved in fiscal 2009, but it was still nearly ten percentage points above the margin achieved during the last industry trough and was higher even than the margin achieved at the prior industry cyclical peak in 2002. This strong operating performance reflects our focus on cost control and the benefit of a newer fleet. Our balance sheet remains strong with a net debt to net  capital ratio of under 5%, and we generated $328 million of cash from operations, which allowed us to continue to reinvest in our fleet while returning $52 million in dividends to shareholders. Last year we took delivery of 28 new vessels, including our new multi-purpose vessel, the Tidewater Enabler, which marks the company’s official entry into the subsea repair and maintenance market. These new vessels represented a $536 million investment as part of the continuing program to enhance our fleet to better service the increased needs of our customers. At fiscal year end, we had 170 “new” vessels, all of which have been added since 2000. Rou nd 5