Mr. Elster: First I'll tell you a little bit about SED, who we are. The company started in 1980; we've been a publicly held company since 1986. Currently we operate four locations in the U.S. and two in Latin America. More specifically, our corporate office is based in Atlanta, Ga., and we have sales and warehouse facilities in Atlanta, Miami, Dallas and Los Angeles, Calif. Our two locations in Latin America are both sales offices and warehouses, with one in Argentina and one in Colombia. Eighty-five percent of our business is generated by outbound phone calls. So we have 60 inside sales people in the U.S. and another 30 in Latin America. In the United States, we are a wholesale distributor of consumer electronics, computer products, small appliance and cellular products. Our business in Latin America is very similar. The typical customer that SED serves is the small to mid-sized reseller, or in my channel we call them VARs, as well as large e-commerce players. The business in Latin America is very similar, however there is really no e-commerce business today in that region. However, we do service a lot of small to mid-sized dealers, as well as some larger retailers. If we look at our overall business today, 65% of our business remains focused on distributing computer and IT products, those being laptops, desktops, hard disk drives, all the pieces and parts that go into a computing system. The consumer electronics side of our business focuses on distributing plasma televisions, LCD TVs, digital cameras, portable GPS devices and products like that, as well as small appliances and cellular products. The types of small appliances SED distributes includes toasters, coffeemakers and other popular kitchen electrics like that.
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