text: **We keep a close watch on the bottom line.**
  
  A company with manufacturing at its core faces the continuing challenge to make its products faster, 
  
  better and more economically. We view this challenge as a continuing opportunity to increase profitability and 
  
  improve our operational efficiency. 
  
  Over the past several years, we have made significant investments in the upgrading of our automated 
  
  manufacturing equipment, enabling us to produce higher volumes in less time and with greater cost efficiency. 
  
  We also have taken steps toward the consolidation of common systems and processes among our three 
  
  manufacturing locations. 
  
  In 2003, we continued to make solid headway in our never-ending quest for operational improvement, 
  
  which is a primary focus of our business strategy. Our ability to hold the line on operational costs, coupled 
  
  with increased revenues from product sales, contributed to a 20 percent improvement in operating income 
  
  over 2002. 
  
  Our strategy for the future continues to be focused on growth, as we remain committed to the 
  
  fundamentals that have served us well: Financial strength that fuels continuing growth. Products that meet the 
  
  needs of select markets. Productivity and profitability that improve year by year. 
  
  To that end, we will continue to put products into the marketplace that represent the highest standards of 
  
  integrity and innovation. We will be relentless in our pursuit of operational measures that improve productivity 