Estimate $m

Actual $m

Variance $m

Variance Factor

Explanation

FMS

The end of year achievement was $70m, the major variation (from the $73m planned) was due to the delay of the EL/L-8222 Jammer Factory Acceptance Testing. This $5m payment will now occur in 2011-12. To offset this delayed payment, activities were brought forward from 2011-12, thus the underspend was reduced to ($3m).

(3.0)

Overseas Industry

Local Industry

Brought Forward

Cost Savings

FOREX Variation

Commonwealth Delays

73.1

70.1

(3.0)

Total Variance