A message from the Vice President, finance

摘要

Asse delivered outstanding financial performance in FY05 (April 1, 2004, to March 31, 2005)-a direct result of the hard work and dedication of the ASSE team. Revenues of $10.8 million increased by $1 million (10 percent) compared to the same period a year ago. Expenses grew by $850,000 (nine percent) to fund higher revenue, and expand member services and other key initiatives. Our ability to grow revenue at a greater rate than expenses resulted in achieving an admirable net income of $728,500. This was an increase o $148,000 (25 percent) over the previous year and exceeded budgeted expectations by $245,000 (50 percent).