Audience: stockholders, members of the press
Message: We’re slowly turning the company around now in a difficult environment.
Tone: formal
Timing: will vary, depending on insertion of financial, managerial, and legal details

Good evening, ladies and gentlemen. I am (name), president and chief executive officer of (company). With pleasure, I welcome each of you to the company’s (number) annual shareholders’ meeting. Let me first introduce our Board of Directors.

[Introduce members.]

These people have served with dedication, integrity, and indisputable expertise. And as you know, they stand today for re-election to another one-year term.

Our corporate secretary will now take the podium to describe the steps necessary to officially convene today’s meeting and observe our legal requirements. Then I’ll update you on our year’s progress.

[Insert details of opening the meeting, election of board members, and collection of proxy votes for any matters before the shareholders.]

With those details out of the way, let’s review the year. We began in the wake of the biggest downturn in our industry in recent history. To say the least, as management, we were uncertain what the year would bring. Investors were cautious, keeping our shares at $(amount) for almost (number) months. Although we faced a difficult environment, (company) became stronger despite these difficulties. There’s an old saying that “adversity builds character.” Certainly, we built character this year.

Despite the environment and discouraging start, we reached several milestones. We’ve started and finished a solid foundation for our future. Let me get specific about what we’ve done in four areas: international marketing, customer service, new product development, expense cutbacks.

[Insert details in each of these areas.]

To spearhead these efforts I’ve just outlined, we have a superb new management team in place. (Name) and (name) you already know for their past excellent performance: (first name) in the area of (position) and (first name) in the area of (position).

I’m also pleased to introduce some new management team players who’ve joined us this year and already have made some impressive decisions that resulted in dramatic turnaround results.

[Insert names of new management team members.]

This new team is a welcome addition. They are all outstanding professionals with the skills and knowledge to strengthen the areas we identified in past years as strategic to our growth.

But to get specific about these dramatic changes I’m referring to: First, at a time when others in the industry have been forced to cut back on [insert detail], we have expanded our services in the area of [type].

Another of our strategic accomplishments has been to [continue with accomplishment details].

In the area of internal controls, we’ve added to the training plans for our key personnel and gained control of hiring and compensation practices. We’ve attracted many new star performers in key slots and our turnover of staff has fallen sharply—roughly by (number) percent.

In (month), we expanded our participation in [overview program].

In the areas of communication—telephone and data-processing—we have made tremendous strides. You could say we’ve gone from quill and ink to lasers and modems. Thus, our state-of-the-art equipment has provided us with the opportunity to concentrate on customer services and quality,… rather than on shuffling internal paperwork.

Additionally, we think we have put our ear a little lower to the ground to hear what the market is telling us in the area of [type of problem]. During the last six months, we have conducted a market research study with our own staff to learn to what extent [insert details]. The response has given us immediate insight into new ideas for services and products.

[Insert new product and service plans.]

Public awareness is another area we’ve tackled. We found that the public is almost totally ignorant of (number) percent of what we really do here. So, education of the consumer has been a major goal. To improve awareness, we’ve participated in and sponsored several events in the local community and in the larger industry arena.

[Insert details about increasing public and consumer awareness.]

These are just a few of the ways we’ve been working to strengthen our relationship with the (industry) community and local citizens. We plan to continue our promotional efforts by [insert details].

Of course, we will not see positive results of these last promotional efforts until next year.

Turning our attention to management of our finances, we’ve made these areas our priority for investing our reserve cash.

[Insert details about investments.]

Our primary aim is to generate consistent above-average return through traditional forms of investment management. With so many capital needs for personnel, equipment, and marketing, you may be wondering why we didn’t aim for home runs rather than dabbling with singles and doubles. In our opinion, the philosophy of a consistent foundation played a critical role in providing the return we needed for expansion.

In each of these areas I’ve outlined—public awareness and promotion, new product and service ideas, recruiting—we’ve made progress in a difficult environment. Our competitors have seen almost a (number) percent decline in gross revenues. On the other hand, our gross revenues totaled $(amount), with a net income of $(amount). Our share prices have maintained their value at $(amount).

Yes, it’s been a rough year. But these cyclical downturns are nothing new to people in the industry. History has shown that with a game plan in hand, the situation will improve. It is, in fact, turning around. Until that about-face is complete, we have reorganized to survive and even grow in these circumstances.

We’ve pared expenses and increased efficiency.

We’ve added services for our customers and quality to our products.

We’ve changed our management team’s philosophy from “wait and see” to “go and tell.”

We’ve let the community know who we are and have built stronger relationships in the process.

Without a doubt, our (year) achievements directly reflect the expertise and dedication of our employees, and I want to publicly thank them for their outstanding work.

We have a game plan. We’re committed. We’re stronger. And, I hope, we have your continued confidence and support. The strength we’ve built makes us a tough competitor when it’s our turn to bat.

May I take your questions now?

[Call for questions and answers.]

[Convey the results of any earlier voting.]

In closing, I want to point out that virtually all lasting structures require foundations. And frequently that foundation is the most difficult, time-consuming part of the construction. We have laid the foundation.

We have learned from the past, and the present is our platform for the future. This year we plan to continue and complete the projects that will make us strong. I’m convinced that we have the management and staff, the enthusiasm, the pride, and the skills for the opportunities that lie ahead.

Audience: stockholders, members of the press
Message: Our steady growth continues.
Tone: formal
Timing: will vary greatly, depending on the insertion of financial, managerial, and legal details

It’s my pleasure to welcome you today to our (number) annual meeting of (company) stockholders. Your copy of this year’s annual report should now be in your hands—a report that reviews our (number) years of continued growth.

Last year can certainly be tagged as one of the most turbulent in the history of our industry. Negative impacts ranged from a troubled world economy to declining [insert specific problem faced during the year], to increasing costs for [insert details]. Yet we weathered those challenges. We made substantial progress on a number of fronts.

Although the year started off like a bad joke, the punch line has been this: We achieved sales of $(amount) and revenues of $(amount)—setting a record for the (number) year in a row. Our earnings totaled $(amount), a record surpassed in only (number) years since we opened the doors. We saw new investments of $(amount) in the future growth of the company, our total assets being $(amount). The price of our shares has risen from $(amount) to $(amount) during this past 12 months—a direct reflection of our steady plodding even in troubled times.

Of that total investment, we funded [type] programs. Additionally, we joined other groups in participating in [type] activities.

[Insert details about new product lines and services.]

Our involvement in all these areas looks promising. Specifically, we’re excited about our ongoing research into the field of [type]. Never before have the possibilities been so ripe for plucking.

[Insert research details and practical applications.]

Now that we know what the potential here is, we owe it to the public and to you to continue to move ahead with our quest into this new technology. What’s taking place in our laboratories today will create a healthier, happier, safer world tomorrow.

Congress has made great strides in correcting the problem of [type]. We are encouraged by recent tax legislation to [overview purpose of legislation].

If our timetables are accurate, we should see an impact from these new programs and tax changes in the last quarter of the year. We are resolved to succeed in keeping our rates competitive and accomplishing a smooth transition in current programs.

We want you to know of some current field-testing in the area of [type]. The results of these field-tests should prove valuable in assessing [purpose of the testing].

We are also pleased to report that we have no litigation pending at this time. That’s a welcome change. For the past few years, I’ve listened to our legal staff and the opponents argue versions of the childhood chant: “Did.” “Did not.” “Did.” “Did not.” Thank goodness, we’re now at peace with our neighbors and colleagues. Our patent infringement suit filed against (competitive company) was settled in our favor in (month, year). With the $(amount) we were awarded, we plan to [overview plans for funds].

We do have some discouraging news, however. Our foray into the (type) market has not been promising. We’ve learned several things. First, [insert details]. Second, [insert details]. Our plans to turn this around next year include [insert details].

In the end, all of us understand that it isn’t enough to run every program and then immediately define its success or failure only with the short-term numbers. All I can say is that we’re going to keep it under the microscope.
As you can see, this was a year of steady operation and consistent growth, as well as one of new direction. Our financing program was improved by an additional upgrading of the company’s debt and preferred stock rating: A vote of confidence from the financial community.

The fortunes of the company have improved dramatically since our beginning, (number) years ago. The price of our stock has gone from a (year) low of $(amount) to this year’s high of $(amount), an accumulative return of (number) percent.

Fundamentally, we are a sound company. We have a substantial net worth of more than $(amount). We are a broad-based enterprise with a recognized diversity and world-wide presence.

(Company)’s performance during (year) demonstrated a sound financial foundation and an efficient operation. We expect to continue that situation. And we have every confidence that our (number) years’ experience in the (type) industry and our pioneering spirit will take us in new directions,… at the most appropriate junctures.

So what are our most important goals? Making your corporation more competitive globally. Our primary objective continues to be to enhance the value of your shares over the long-term and maintain or improve your dividend. The (year) actions we’ve planned to meet this objective include

[Insert details of key goals for the upcoming year.]

I’m sure those goals have brought some issues to the forefront of your mind. What questions do you now have?
[Take questions and answers.]

Thank you for coming today. It’s been very pleasant for me to be here among new and former friends. And, I might add, it’s also been nice to report to you on our continuing successes and our optimistic future.

I’ve done my best to use this time to give you a detailed snapshot of how I see our company. An impressive picture, we think. And our research reflects great things to come. We plan to continue our growth and repay your initial and ongoing confidence.

In short, we plan to rekindle your excitement.

Welcome stockholders by making them feel a part of the company.

Present a state-of-the-company summary, including your financial position, new product or service information, marketing issues, ongoing research, pending legislation that will affect you, pending litigation, management and staffing changes. Also include comments on the negatives, particularly responding to press coverage and downturns in the economy.

Overview your plans for the future.

Invite the stockholders to ask questions or offer suggestions about the organization’s operations.