Question-and-Answer Session
Operator
(Operator Instructions). So our first question comes from Nick Morgan of RBC Capital Markets please go ahead.
Nick Morgan - RBC Capital Markets
Good afternoon. Well, I'm glad, I am on the phone, I can't catch that cold.
Ted Mahood
We are also in here Nick.
Linda Hasenfratz
And they are all scared. They all are sitting really far away from me.
Ted Mahood
20 feet away.
Nick Morgan - RBC Capital Markets
Great. I wonder if the Skyjack results in the fourth quarter might be a little bit of year-end adjustment to earlier estimates in the year, or it was the quarter really as disappointing as it looked?
Linda Hasenfratz
Yeah, the quarter, again, there were several factors acting here. One is seasonality because the fourth quarter is typically the softest quarter for the Skyjack business. Secondly, again with Skyjack, we had a mix of products that were a little lower margin than we would normally see, just like last year in the fourth quarter, we had an unusually profitable mix of products.
The product mix this time was in the other direction, and then lastly at Skyjack the BOOM products are in a wrap up mode. So they are not at mature growth margin levels as yet, and as we pick up sales, they are starting to impact on the margin side.
Nick Morgan - RBC Capital Markets
Okay.
Linda Hasenfratz
As well, the segment does include our consumer product division and our Hungarian agriculture business. Overall most divisions also show the negative variance over last year, so it's not just Skyjack, you should be aware of that.
I still believe that the 11% to 13% range is a good one to use in terms of your expectations for performance in this segment.
Nick Morgan - RBC Capital Markets
Okay, and do we expect sales growth in 2008 from Skyjack?
Linda Hasenfratz
Well, as you know, we don’t offer forward-looking statements in terms of that kind of outlook, but what I could tell you is that the market appears to be stable and our strategies of increasing sales through globalization, and examine products the new BOOM product, the tele-handler, the deal with Volvo will bring even more tele-handlers into the product mix. It is clearly a way that we can do strategies to continue to grow.
Nick Morgan - RBC Capital Markets
Okay. Just on that press release you put out a couple of weeks ago on some work going back to the OEM or staying at the OEM. You haven't given guidance in the past that is specific, and I just wondered why you did it that time, is it a warning that the first and second quarters of this year will be very disappointing or how am I to interpret that?
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