Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Our first question from Nishu Sood with Deutsche Bank.
Nishu Sood - Deutsche Bank
Thanks. Good morning, guys.
Floyd Sherman
Good morning.
Charles Horn
Good morning.
Nishu Sood - Deutsche Bank
The question I have is on cash flow. In 2007, you folks certainly did an impressive job of sustaining cash flows, however, if you kind of look at what’s happened in 2007, you obviously were able to reduce your working capital but as of the fourth quarter, you are now in a negative EBITDA position. So just looking ahead, absent a recovery in demand, do you think you will be able to sustain positive cash flow going forward in 2008?
Floyd Sherman
Well, Nishu if we break it down even to Q4, even though it was negative EBITDA, it was positive free cash flow and then if we break down the quarter, I think our focus will be to try to mitigate the declines in EBITDA while at the same time, trying to monetize the assets we have on the balance sheet so far to stimulate free cash flow.
We will be very focused on pulling back our CapEx. I think we are targeting nearly $7 million to $10 million for 2008 and we will respond and pull that down as needed. So even though Q4 was very difficult, we did generate good free cash flow and I think we will endeavor to try to do so in 2008 as well.
Nishu Sood - Deutsche Bank
Second question I had was you were mentioning the increased emphasis on the light industrial, the commercial markets. I know a lot of that expertise you have been gaining from your acquisition of Bama Truss. How much of your sales percentage-wise is that end market now and how much would you target it for over the next year or two?
Floyd Sherman
Right now on a current basis, it probably is somewhere between 2% to 3% of our sales, but we are also leveraging what we do at Bama Truss into one of our other market areas and it’s really helping us gain a lot of new customer base in that particular market and if I probably take those sales and add in, I would guess our light commercial multi-family business, Charles was probably now getting up close to 5% of our sales in total and growing and we are also attempting to take and apply, use the same leverage in our other operating groups.
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