2005 Annual Report

Highlights

Net after-tax profit $1.2 million (2004, $1.4 million)
Total revenue $43 million (2004, $39 million)
Commercial revenue $12.9 million (2004, $11.1 million)
Total expenses $41.2 million (2004, $37.2 million)
Total assets $29.4 million (2004, $28 million)
Shareholders' equity $16.8 million (2004, $15.6 million)
Return on equity 7.5 percent (2004, 9.3 percent)
Revenue per FTE $155,000 (2004, $142,000)
Total staff 275, comprising 198 researchers, 35 research support, and 42 general support and management

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