Question-and-Answer Session
Operator
(Operator instructions)
Jim Thyen
Okay, George, thank you. That brings us to the end of today’s call. Our results for the fiscal year and particularly the second half of the fiscal year are not acceptable. Our position relative to competitive benchmarks is not where we wanted to be or where we believe it should be. While our strategies are well received in our core markets, we do face significant challenges. Rapid shifts in the economy, reduced consumer confidence, as well as significant and rapid commodity cost increases affecting both our segments. These factors drove competitive and market pressures to which we should have reacted with greater speed. Corrective action has been taken and will continue to be applied. Our gross margins improved in the fourth quarter compared to the third quarter of fiscal ’08. We intend to continue this trend. Our RFQ activity, quotation activity and win rate remain high. Our open orders remain strong at this time. As we move into our new fiscal year, it’s much more important that we grow with healthy gross margins. We appreciate your interest in Kimball and we look forward to speaking with you on our next call. Thank you. Have a great day.
Operator
At this time, our listeners may simply hang up to disconnect from the call. Thank you. And have a nice day.
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