The prospect of lower revenues would be expected to result in an operating deficit at our current level of expenses in the first half of 2013.

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Why would we have to sell our rice cheaply at the expenses of the farmers?

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Wooster is increasing aid, moderating tuition increases and looking very carefully at where we can reduce expenses without impacting our educational programs.

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The company has guided that marketing expenses in the long run will remain at 20% of revenues, and our valuation of the stock modeled a decline in marketing expenses as a percentage of revenue to a high single digit value previously as we anticipated greater operating leverage as the company grew.

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We thus expect Q2 revenue to increase significantly, and earnings to grow at a faster rate than sales, due to our continued restraint of operating expenses.

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