Ann: CEO's AGM Presentation , page-26

True, but given the current macro environment I think it makes perfect sense for management to be as conservative as possible right now. It is one thing to act and publicly revise estimates downward, that is a truly negative event. It is completely different to simply refrain from action and not change guidance, that is not a negative event, it is a non-event. Not revising estimates upwards after the acquisition of the remaining part of CIA does NOT equate to revising estimates downwards. Apple is a great example, they always sand bagged / low balled estimates in order to lower the bar which they easily exceeded and which always worked out well for long term shareholders.

Also in my opinion an upward revision of estimates would be sort of pointless right now, we would get a nice little bump in share price, but the impending collapse of the EURO would negate that progress. I would rather them save any revisions/announcements for after the Europe situation works itself out more and there is less uncertainty in the market so announcements will be more likely to build upward momentum.

Just my bullish opinion on things...