Consolidated Statement of Operations

	2007		2006
Year ended March 31	$		$
[in thousands of Canadian dollars]
Revenue	204,606		196,263
Expenses
Direct	100,850		93,662
Selling, general and administrative	89,943		89,877
Depreciation	4,483		4,817
Amortization of deferred expenses and intangible assets	1,896		2,051
Project expenditures	860		810
	198,032		191,217
Income from operations	6,574		5,046
Investment income	2,093		1,515
Foreign exchange gain (loss)	149		(1,271)
Excess of revenue over expenses for the year	8,816		5,290
See accompanying notes