Question-and-Answer Session
Operator
(Operator Instructions). We'll go first to Edward Yruma with J.P. Morgan.
Edward Yruma - J.P. Morgan
Just to draw up battle a bit on the impact of ERP in the first quarter. If you were remove the impact ERP, would you have shown underlying margin improvement?
Lois Martin
Ed, good morning. This is [Lois]. Actually I'm not sure I'm following the entire question even with the impact of ERP, we are showing margin improvement in the first quarter?
Edward Yruma - J.P. Morgan
I'm just trying to understand, maybe the difference how much greater would the margin improvement have been without ERP?
Lois Martin
I'm not going to disclose that number. I would say you can see it again across all of the lines as Ken has detailed the impact, clearly there is some on the top line along with just productivity issues each of the other lines but even with that the margins that we're delivering in the first quarter are within and actually exceeding our three to five year guidance.
Edward Yruma - J.P. Morgan
Got you. And Steve, I think you have previously articulated that would step down towards the end of 2008, can you give us an update on your timing? Thank you
Steve Shank
Yes Ed. I would just reiterate that that is my objective and would reiterate that our Board continues to be engaged in an orderly process of planning for a CEO succession and we're very optimistic about the strength of our team and how that’s going
Edward Yruma - J.P. Morgan
Great, thank you
Operator
We'll go next to Marc Marostica with Piper Jaffray
Marc Marostica - Piper Jaffray
Thank you. A nice job in the quarter. My first question relates to the ERP implementation also and I am wondering want modules are left to implement and what the timing is on those implementations? And then lastly tied to that, do you anticipate any further changes to the start schedule versus last year as you look ahead to this year?
Lois Martin
Good morning Mark, this is Lois. And yes, actually the remaining modules will be essay which we're in right in the middle of that deployment and started at the end of January. And then the financial aid module is the last module that remains and that will go live in the second quarter of 08.
Marc Marostica - Piper Jaffray
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