What basis do you have to forecast earnings down 14%. Earnings were up Q1 from prior year. The dollar is getting stronger. Fall pre-orders were off 2.8%, but COLM sales are not all pre-orders. Management is always conservative in their quarterly meetings, yet what happens...they do better than guidance. Under sell, over deliver. I like Columbia everyday. Gert and Tim can have my money any day - they are trustworthy.