Our estimates assume only a $5 million revenue contribution from those contracts in 2012. If they all come to fruition next year the incremental revenue boost could be in the $50 million range. The company is actively pursuing additional partners, moreover. It thinks about 25%-30% of the potential market has been penetrated to date. And direct competition is incidental. Most alternatives entail in-house computer systems. Product enhancements are being developed to lift revenues at existing accounts. Points International revamped its technology platform in 2011 to facilitate the creation of new features. It also makes it easy to take ideas that are working with some customers and roll them out to the rest of the base. A move into mobile applications promises further leverage over the long haul. Our estimates are unchanged.
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