Michael Konrad, President, Aqueous Technologies Corporation

Challenging as last year was, it also allowed (forced) us to become more efficient. In fact, through increased efficiencies and related cost savings in our purchasing, manufacturing, sales distribution, and marketing departments, we were able to avoid layoffs. While we did experience a decline in revenue, our net profits were only minimally affected.

We are looking forward to an improving economy in 2010. 2009's fourth quarter sales and revenue produced an 18-year record high with orders spilling over into January and February.

Aqueous Technologies' engineering department remained active during 2009 with the introduction of the award-winning Zero-Ion G3 cleanliness tester. Our 2010 engineering programs are on track to release the latest version of our award-winning Trident automatic defluxing and cleanliness testing system at APEX.

I believe one of the strategies that allowed us to mitigate the negative effects of 2009 was our adherence to our core corporate values. Defluxing and cleaning related equipment is Aqueous Technologies' core competency.

Unlike other companies, we do not strive to be all things to all people. By concentrating on one single product range, and by being one of the few cleaning equipment suppliers who actually design and manufacture our own equipment, we are able to rapidly react to market conditions by way of engineering and marketing.

Being quick to react to our customers’ requirements, even in volatile times such as 2009, we were able to emerge from the world's worst economic condition since the great depression.