Sanjay will provide additional detail on the financial impact of this agreement in just a few minutes. We remain focused on making progress on this program and driving cost reduction while delivering the highest-quality product. This comprehensive agreement strengthens our partnership with Airbus and positions Spirit to extend our elaboration with them in the future. We continue to work very closely with Airbus senior leaders on technology collaboration and are actively pursuing new business opportunities with Airbus. Now let’s take a look at Q2 results. In the second quarter, we delivered a record 408 shipsets including 36 787s and 20 A350s. The deferred balance on the 787 program remained relatively stable compared to the first quarter, while on the A350 program the balance grew by $6.8 million or $341,000 per shipset compared to $411,000 per shipset in the first quarter and $1.9 million last year. For the quarter, we reported revenue of $1.8 billion, up 8% compared to the same period of 2015. selection processOperating income was $83 million and net income was $45 million, taking into account the A350 forward loss and some other one-time items which Sanjay will explain.
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