As I look back at our last quarter, all I can think about is the significant contributions that TCG employees have made in significantly moving our company forward. During the first nine months, our growth rates approximated 50%, far exceeding our goal of 20%. This growth came predominantly from our Marine Engineering Division's support of Mine Warfare programs and our USMC Division's support of Ground Based Optical Surveillance Systems (GBOSS) and Distributed Operations (DisOps). This growth took a lot of work! We also closed on a transaction whereby the Rosenblatt team from NG AMSEC became part of The Columbia Group and formed the new TCG Rosenblatt Ship Design Division. This transaction and related business integration continue to require a lot of work! We also held two major public events; Military Appreciation Day in Panama City and our Charity Golf Outing at Andrews Air Force Base. These events took a lot of work! No matter how you look at it, this past quarter reflects the many significant contributions you have made in shaping The Columbia Group of the future. We have a lot of remarkable people here at The Columbia Group.

As we look forward to our fourth quarter, there are a few primary objectives occupying our focus. (1) To maintain the highest possible level of customer satisfaction. This will be particularly challenging within the Marine Engineering Division where they are experiencing significant growth in volume. (2) To welcome our new Rosenblatt team into the TCG family. This includes orientating our new employees, expanding our professional development programs to meet the needs of Rosenblatt personnel, expanding our internal network capacity to ensure a seamless transition for the team, supporting this team in its pursuit of new business and service to customers under the TCG Rosenblatt Ships Design Division, and investing in the many new personnel needed to support this new initiative. (3) To expand and accelerate our new business pursuits within the Navy Ships Division. (4) To prepare for our Financial Management and Information Technology Services' new facility move in October and the consolidation of our space at Maritime Plaza. Not surprisingly, we are making good progress on all of these objectives.

– Rod Buck