Cincinnati, Ohio based Multi-Color Corporation is a premier global resource of  cost-effective, innovative decorating solutions and packaging services to consumer product and food and beverage companies, national retailers and container manufacturers worldwide. Multi-Color is the world’s largest producer of both  in-mold labels (IML) and heat transfer labels (HTL), and a major manufacturer of high-quality pressure sensitive labels and shrink sleeves. The Company’s Packaging Services Division, Quick Pak, is a leading provider of promotional packaging, assembly and fulfillment services. Multi-Color has six manufacturing locations in the United States. Its products are shipped to more than 250 customers in the U.S., Canada, Mexico, Central and South America, and Asia. (1) All share amounts have been adjusted to reflect the 3-for-2 stock splits effective November 30, 2001 and November 30, 2003. (2) Net Income and EPS exclude the one-time tax benefit recorded in Fiscal Year 2000. Financial Highlights (amounts in thousands except per share data) Year ended 2004 2003 2002 2001 2000 Net Sales  $126,961 $ 99,560 $ 72,624 $ 66,618 $ 53,331 Net Income  $ 6,506 $ 6,335 $ 4,699 $ 3,559 $ 1,844 (2) Diluted Earnings Per Share (1) $ 0.99 $ 0.99 $ 0.76 $ 0.61 $ 0.29 (2) Fiscal 2004 Financial Highlights: > Sales Revenue increased 28% to a record  $127 million, our sixth consecutive year of double-digit annual increases. Dawn H. Bertsche Vice President Finance and Chief Financial Officer Net Sales ($ in millions) 53.3 66.6 72.6 99.6 127.0 00 01 02 03 04 Net Income ($ in millions) Reported Net Income Excluding charges 1.8 3.6 4.7 6.3 7.2 6.5 00 01 02 03 04 Diluted Earnings Per Share (in dollars) Reported EPS Excluding charges .29 .61 .76 .99 1.09 .99 00 01 02 03 04 > Net Income grew 3% to $6.5 million. Excluding a $.7 million charge for impairment loss and plant closure costs, Net Income increased 14%. > Diluted Earnings Per Share (EPS) at $.99 per share equals the previous year. Excluding the  one-time charges, diluted EPS were $1.09, up 10% from a year ago. > Shareholder Equity increased 30% to $33 million. > Total Debt reduced $6.4 million to $21.4 million.