ITEM 11—EXECUTIVE COMPENSATION We incorporate by reference in this Item 11 the information relating to executive and director compensation contained under the headings “Other Information about the Board and its Committees,” “Compensation and Other Benefits” and “Report of the Compensation Committee” from our proxy statement to be delivered in connection with our 2013 Annual Meeting of Shareholders to be held on November 20, 2013.
ITEM 12—SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS We incorporate by reference in this Item 12 the information relating to ownership of our common stock by certain persons contained under the headings “Common Stock Ownership of Management” and “Common Stock Ownership by Certain Other Persons” from our proxy statement to be delivered in connection with our 2013 Annual Meeting of Shareholders to be held on November 20, 2013.
The following table provides certain information as of May 31, 2013 concerning the shares of the Company’s common stock that may be issued under existing equity compensation plans.
For more information on these plans, see Note 11 to notes to consolidated financial statements.
## Table 0 ##
(1) Also includes shares of common stock available for issuance other than upon the exercise of an option, warrant or right under the Global Payments Inc.  2000 Long-Term Incentive Plan, as amended and restated, the Global Payments Inc.
Amended and Restated 2005 Incentive Plan, Amended and Restated 2000 NonEmployee Director Stock Option Plan, Global Payments Employee Stock Purchase Plan and the Global Payments Inc.  2011 Incentive Plan.
ITEM 13—CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE We incorporate by reference in this Item 13 the information regarding certain relationships and related transactions between us and some of our affiliates and the independence of our Board of Directors contained under the headings “Certain Relationships and Related Transactions” and “Other Information about the Board and its Committees” from our proxy statement to be delivered in connection with our 2013 Annual Meeting of Shareholders to be held on November 20, 2013.
ITEM 14—PRINCIPAL ACCOUNTING FEES AND SERVICES We incorporate by reference in this Item 14 the information regarding principal accounting fees and services contained under the section Ratification of the Reappointment of Auditors from our proxy statement to be delivered in connection with our 2013 Annual Meeting of Shareholders to be held on November 20, 2013.
ITEM 6.
SELECTED FINANCIAL DATA The following selected consolidated financial data should be read together with ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ and our audited consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K.
## Table 1 ##
Year Ended December 31,
## Table 2 ##
(a) We repurchased 8,000,000 shares of our common stock in February 2003 and repurchased an additional 6,229,992 shares of our common stock in May 2003.
We sold 20,000,000 shares of our common stock on October 2, 2003 in connection with our initial public offering.
In addition, we sold 12,870,000 shares of our common stock on October 4, 2005 in connection with a follow-on public offering.
We also sold 23,600,000 shares of our common stock on September 19, 2007 in connection with a follow-on public offering.
Accordingly, the shares used in the per share
Segment Reporting Over 97% of our operations are conducted in the U. S.  During 2004, we acquired a recycled OEM products business with locations in Guatemala and Costa Rica.
In May and July 2007, we acquired two recycled OEM products businesses located in Canada.
Keystone has bumper refurbishing operations in Mexico and two aftermarket products businesses in Canada.
Revenue generated and properties located outside of the U. S.  are not material.
We manage our operations geographically.
Our light vehicle replacement products operations are organized into ten operating segments, eight for recycled OEM products, one for aftermarket products and one for refurbished products.
These segments are aggregated into one reportable segment because they possess similar economic characteristics and have common products and services, customers, and methods of distribution.
Our light vehicle replacement products operations account for over 93% of our revenue, earnings, and assets.
Results of Operations The following table sets forth statement of income data as a percentage of total revenue for the periods indicated:

Tables referenced above, in order (Table 0 first):
<table><tr><td>Plan category</td><td>Number of securities to be issued upon exercise of outstanding options, warrants and rights(a)</td><td>Weighted-average exerciseprice of outstanding options, warrants and rights(b)</td><td>Number of securitiesremaining available forfuture issuance under equity compensation plans (excluding securities reflected in column (a))(c)</td><td></td></tr><tr><td>Equity compensation plans approved by security holders:</td><td>1,765,510</td><td>$34.92</td><td>7,927,210</td><td>-1</td></tr><tr><td>Equity compensation plans not approved by security holders:</td><td>—</td><td>—</td><td>—</td><td></td></tr><tr><td>Total</td><td>1,765,510</td><td>$34.92</td><td>7,927,210</td><td>-1</td></tr></table>
<table><tr><td> </td><td colspan="5">Year Ended December 31,</td></tr><tr><td> </td><td>2003</td><td>2004</td><td>2005</td><td>2006</td><td>2007</td></tr><tr><td> Statements of Income Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenue</td><td>$327,974</td><td>$424,756</td><td>$547,392</td><td>$789,381</td><td>$1,126,825</td></tr><tr><td>Cost of goods sold</td><td>174,238</td><td>227,140</td><td>289,788</td><td>431,832</td><td>621,076</td></tr><tr><td>Gross Margin</td><td>153,736</td><td>197,616</td><td>257,604</td><td>357,549</td><td>505,749</td></tr><tr><td>Operating income</td><td>26,059</td><td>34,907</td><td>52,942</td><td>77,166</td><td>122,657</td></tr><tr><td>Other (income) expense</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest, net</td><td>2,023</td><td>1,505</td><td>1,887</td><td>5,824</td><td>16,012</td></tr><tr><td>Other, net</td><td>-117</td><td>-455</td><td>-628</td><td>-1,479</td><td>-1,626</td></tr><tr><td>Income before provision for income taxes</td><td>24,153</td><td>33,857</td><td>51,683</td><td>72,821</td><td>108,271</td></tr><tr><td>Provision for income taxes</td><td>9,577</td><td>13,284</td><td>20,796</td><td>28,426</td><td>42,370</td></tr><tr><td>Net income</td><td>$14,576</td><td>$20,573</td><td>$30,887</td><td>$44,395</td><td>$65,901</td></tr><tr><td>Basic earnings per share</td><td>$0.22</td><td>$0.26</td><td>$0.35</td><td>$0.42</td><td>$0.58</td></tr><tr><td>Diluted earnings per share</td><td>$0.20</td><td>$0.23</td><td>$0.32</td><td>$0.40</td><td>$0.55</td></tr><tr><td>Shares used in per share calculation-basic(a)</td><td>65,072</td><td>80,210</td><td>88,039</td><td>105,655</td><td>114,161</td></tr><tr><td>Shares used in per share calculation-diluted(a)</td><td>73,032</td><td>89,654</td><td>97,431</td><td>111,633</td><td>119,937</td></tr></table>
<table><tr><td> </td><td colspan="5">Year Ended December 31,</td></tr><tr><td> </td><td>2003</td><td>2004</td><td>2005</td><td>2006</td><td>2007</td></tr><tr><td> Other Financial Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net cash provided by operating activities</td><td>$20,949</td><td>$25,901</td><td>$37,533</td><td>$52,381</td><td>$54,369</td></tr><tr><td>Net cash used in investing activities</td><td>-12,222</td><td>-87,823</td><td>-126,022</td><td>-110,657</td><td>-905,821</td></tr><tr><td>Net cash provided by financing activities</td><td>6,770</td><td>47,452</td><td>90,050</td><td>59,134</td><td>921,629</td></tr><tr><td>Capital expenditures(b)</td><td>13,200</td><td>93,025</td><td>136,342</td><td>116,844</td><td>908,122</td></tr><tr><td>Depreciation and amortization</td><td>5,446</td><td>6,872</td><td>8,574</td><td>12,086</td><td>18,018</td></tr><tr><td>EBITDA(c)</td><td>31,622</td><td>42,234</td><td>62,144</td><td>90,731</td><td>142,301</td></tr><tr><td>  Balance Sheet Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>$203,154</td><td>$288,275</td><td>$439,426</td><td>$564,355</td><td>$1,692,655</td></tr><tr><td>Working capital</td><td>74,184</td><td>77,879</td><td>103,776</td><td>122,420</td><td>389,469</td></tr><tr><td>Long-term obligations, including current portion</td><td>3,997</td><td>50,262</td><td>47,477</td><td>100,447</td><td>658,462</td></tr><tr><td>Stockholders' equity</td><td>174,011</td><td>204,071</td><td>341,220</td><td>401,202</td><td>849,777</td></tr></table>

Question: Does Revenue keeps increasing each year between 2003 and 2007?
Answer: yes