Aimia reaffirmed preliminary unaudited earnings guidance for the fourth quarter and full year ended December 31, 2016. The company expects to report gross billings above $640 million in the 2016 fourth quarter. Adjusted EBITDA margin is expected to be around 10% for the quarter, above Aimia's prior guidance of around 9.5%. Fourth quarter cash flow from operating activities is expected to be approximately $140 million. As expected, Aimia will report a GAAP operating loss for the full year, prior to any impairment charges. The ongoing process to simplify and focus the business may also result in certain assets, which represent 2016 annual gross billings in the range of $150 and $200 million, being identified as held for sale. The company expects to report full year 2016 gross billings expected to be above $2.3 billion and in line with Aimia's prior guidance revenue is expected to be approximately $2.3 billion for the full year. Adjusted EBITDA margin is expected to be around 10% for the full year, above Aimia's prior guidance of around 9.5%. Full year 2016 free cash flow before dividends paid is expected to be above $200 million against Aimia's guidance of $190 to $210 million. Revenue is expected to be approximately $2.3 billion for the full year. Free cash flow before dividends paid on a reported basis to be over $120 million, driven by a strong quarter on gross billings and a return to more normalized levels of capital expenditures of approximately $70 million for 2016.