There were no exceptional items in the year-ago quarter. Therefore, earnings before interest and tax (EBIT) in the first quarter of 2009 declined 64% to € 129 million compared to € 360 million in the year-ago quarter. Merck's financial result remained at a relatively low level but did increase in the first quarter by 14% to € –35 million due to higher interest payments. Merck's underlying tax rate was 24.7% for the quarter under review compared to 26.4% in the year-ago quarter. Merck's first-quarter profit after tax totaled € 60 million compared to € 243 million in the year-ago period. The Merck Group had 32,700 employees worldwide on March 31, 2009, i.e. 100 or 0.3% less than the 32,800 at the end of 2008. "This year will be a challenge for Merck but I am happy to say that our Pharmaceuticals business remains strong. Regarding Liquid Crystals, we are convinced we reached the bottom in the first quarter," said Dr. Karl-Ludwig Kley, Chairman of the Executive Board of Merck KGaA.