As Delta Electronics celebrates its fortieth anniversary in 2011 and the beginning of our fifth decade, we look back at the year 2010, which crowned forty years of remarkable achievement. In 2010, the Company's revenues, profits, and market value surpassed all previous records. We solidified our leading position in power management and components, and continued our multi-year effort in developing renewable energy, energy-saving and new energy technologies. Delta also made major progress in such advanced business areas as industrial automation, display solutions, solar energy, LED lighting, and electric vehicle control systems and full-car power train systems. These efforts are not only in step with global green energy trends but also drive the future growth of Delta. We summarize our business results of the past year and the outlook for the future below.

Delta Electronics' 2010 consolidated sales revenues were NT$171.3 billion, increasing 38% compared to the previous year; gross profit was NT$36.6 billion, or 21.4% of revenues, representing 37% growth from the previous year; net operating profit was NT$17.3 billion, or 10.1% of revenues, increasing 40% from the previous year. Net income after tax was NT$15.8 billion, or 9.2% of revenues, rising 35% from the previous year. Earnings per share was NT$6.69 in 2010. Delta's global market share in switching power supplies has stayed at number one since 2002. In recent years, we have aggressively brought into new applications our longtime accumulated power electronics technologies as well as other innovations, fortifying Delta's industry leadership and its contribution to global energy efficiency. Last year, Delta introduced a green telecommunication power solution, successfully integrating renewable energy with an existing high-efficiency telecommunication power system, and thus winning business from telecommunication operators in India and Mainland China. Delta not only maintained its number one market share, but also helped customers achieve their goals of reducing energy consumption and carbon emissions.

In addition to the power supply business, Delta also ranks number one globally in brushless DC fans. Through advanced high-efficiency thermal technologies, we are able to help customers solve system-level heat dissipation issues, improve energy efficiency and recycle energy. With efficient energy technologies such as variable frequency servo motors and drives, Delta helps customers renovate labor-intensive legacy factory equipment with cutting edge automation technologies, dramatically reducing their reliance on labor and electricity. Delta has also been developing the China market. Along with expanding distribution networks and setting up closer partnerships, we have established logistics centers as well as intelligent information systems to monitor market trends and respond in a timely manner. As a result, in 2010 Delta could contend with first-tier industrial names from Europe, America, and Japan in the China market. As labor shortages, wage inflation, energy conservation and carbon reduction issues continue unabated, the potential for Delta's industrial automation business is significant.

Delta's display solution business continues to spearhead into professional areas such as home and commercial cinemas, high-end large-venue conference projection systems, and large outdoor LED displays. It also leads the industry in developing LED ultra-short-throw projectors, 3D high quality projection systems, and glass-less 3D displays. Combining with system software technologies, our large real-time interactive monitoring systems and 360-degree surround video walls are also widely praised. Delta displayed its world-leading 3D projection systems at the 2010 Taipei International Flora Exposition's Palace of Dreams and EXPO Theater. Our participation highlighted the urgency of global warming and environmental protection, and promoted the use of innovative, clean and efficient energy solutions.

Delta's strategy for renewable energy is reaching new milestones. In solar energy, our subsidiary DelSolar focuses on developing solar cells and modules, and targets expanding its capacity to over one gigawatt this year. In 2010, besides introducing solar inverters with 98% efficiency and a high-precision solar tracking system, Delta also expanded its solar system business into overseas markets. For example, we partner with a major U.S. food distributor for solar projects that operate on an innovative leasing model, and we completed a landmark solar system on the city hall roof of historical Zhenjiang City in China, based on our superior design capabilities and our experience building the solar energy system for the Kaohsiung 2009 World Games Stadium. Wind power is another market with enormous potential. In addition to small wind power generators and systems, Delta has developed several megawatt level large-scale wind power inverters for generators ashore or offshore, to further strengthen the Company's green energy portfolio.

Delta is also focusing on LED lighting and electric vehicles. Current LED light bulbs are nine times more efficient than traditional light sources, and still improving. LED bulbs also enjoy lifetimes of over forty thousand hours, which translates into 11 years of 10-hour usage everyday without having to replace the bulb. Offering greater energy efficiency and a much longer life, but lacking the mercury pollution of fluorescent lamps, LED bulbs are the ideal eco-friendly energy-saving lighting product. The general public is reluctant to deploy LED bulbs due to the cost difference. However, with superior longevity and energy efficiency, LED lighting is more economical than other lighting technologies. Delta has successfully developed high-efficiency indoor and outdoor LED lighting systems. Last year, we introduced high color rendition LED light bulbs that have the number one efficiency rating in Taiwan, and are the first to obtain TÜV certification. Delta has become a recognized LED lighting manufacturer and we are successfully developing green business opportunities and winning business from renowned international customerss. Delta is also devoting great effort to the area of hybrid and pure electric vehicles, providing major multinational automobile companies with chargers and power converters. We have also begun road testing hybrid cars with full power train systems that integrate Delta's captive automatic control, motor drive, servo motor, and power electronics technologies. The performances are exceeding expectations.

With our emphasis on long-term development, Delta continues to strengthen through expanding R&D centers and developing talent. The construction of Taoyuan Plant 3 will finish this year and we will establish the global research and development center of our Industrial Automation business. The Pingjhen Plant was acquired last year to become our main manufacturing base for e-paper. DelSolar has boosted its capacity in Zhunan to cope with increasing market demand. Developing green energy technology is Delta's corporate mission and social commitment, and we know that humanity must pursue sustainable growth. We believe the advanced technologies such as solar energy, LEDs, electric vehicles, e-paper, and fuel cells that we have dedicated ourselves to over the years will bear fruit. We are committed to providing the market with new products and services, reduce greenhouse gas emissions, and contribute to the protection of our earth.

Delta's achievements are receiving global recognition. In 2010, the management team won honors such as the CNBC China Business Leader of the Year and Asia Innovator of the Year awards, and Ernst & Young Entrepreneur of the Year and CSR Entrepreneur awards. In addition, we have received best-of-the-best awards from customers such as ASUSTeK, Cisco, and Rockwell, in recognition of our dedicated efforts. Delta's fulfillment of corporate social responsibilities was also recognized last year: We were ranked number one for Corporate Citizenship by CommonWealth Magazine and won its Most Admired Company award in the electronics industry for the 9th consecutive year, and we were also rated A+ for the third time for the Securities and Futures Institute's Information Transparency and Disclosure Ranking. We are devoted to corporate social responsibility and we strive to continuously enhance Delta's international standing.

We sincerely offer our gratitude to our Delta colleagues who have achieved their targets through dedicated efforts, and to our customers, suppliers, shareholders, and the public for their support. Together we will continue to build on Delta's four full decades of achivement as we pursue our mission to contribute to a greener planet and a better tomorrow.