Question-and-Answer Session
Operator
(Operator Instructions) One first question is from the line of Matt Duncan with Stephens, Inc. Please go ahead.
Matt Duncan – Stephens, Inc.
The first couple of question I’ve got are really with regard to Precision and I appreciate the commentary that you gave us there. I’m curious if you can talk a little bit about maybe the revenue impact of the new integrated supply deals that you said Precision has signed since the deal closed. Are these larger deals? Medium size deals? What’s the impact of these deals?
David R. Little
They’re smaller deals. As you all should know Precision lost two major contracts in 07 that represented 25% of their business. Since that time they have signed two large contracts one of which was kind of sales have been deferred really into 08 and so they’re coming they haven’t gone away but they didn’t happen as quickly as we would like. Then, in the meantime they signed several I would say $3 million type deals, ones an extension of an existing customer and I think there’s two others that are brand new.
Matt Duncan – Stephens, Inc.
Good. That’s helpful. Then, on top of that given that they have now signed these new deals despite the fact that one of these larger ones is ramping a little slower, do you think those kind of offset each other and precision is still able to do the roughly $300 million in revenue that you guys had expected it to do in 08 when the deal closed?
David R. Little
We’re not going to give guidance on what sales should be but, I will say that we’re very optimistic, they’re very optimistic that they’re going to have a really good year and I think there was some sort of indication that they would get back to where they were in 06 or greater. So, we feel good about that.
Matt Duncan – Stephens, Inc.
Mac, you gave us the growth rate for your three different businesses in the full year 2007 and I’m curious if you got organic growth in front of you for service centers, supply chain services and the innovative pumping solutions there in the fourth quarter?
Mac McConnell
Yes. Supply chain in the fourth quarter, the growth rate, organic growth rate was 15.7%, for innovative pumping solutions it was 67.1% and for MRO sales by our service centers it was 10.95% so, 11%.
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