Question-and-Answer Session
Operator
Thank you, at this time to ask a question please press star followed by the one on your touchtone phone and record your name when prompted. To withdraw your request, please press star followed by two. Once again to ask a question please press star one at this time. Our first question comes from Ed Wolfe, you may ask your question and please state your company name.
Ed Wolfe – Bear Stearns
Thanks its Ed Wolfe from Bear Stearns. Greg there’s a lot of puts and takes this year with interest expense with rates coming down and with the share repurchase and so forth. Can you give some guidance or Robert on where we should be for interest expense quarterly as we go out and same for depreciation if you have it.
Greg Swienton
You’re right, I think generally there are a lot of puts and takes and there are a lot of moving parts including uncertainty about the economy. We built in certain price levels on stock repurchase, certain amount of speed in covering, certain amount of it this year. We’ve got some interest rates built in. Generally we’ve tried to encapsulate that broadly in that waterfall chart and that’s our best guess as of now. As we get additional data we can clarify that over time. I don’t know Robert if you want to add anything else.
Robert Sanchez
Yeah we have interest expense rising slightly, really rising with the revenue, however with some of the changes that have occurred in the last week in the market I think there could be some additional opportunity there.
Ed Wolfe – Bear Stearns
I’m not sure about the waterfall chart. Are you talking, I mean it was a little less than $40 million in the quarter, you’re seeing it rising off of that a little bit or how do I think about it?
Robert Sanchez
Yes what we’re saying is, is that waterfall, we had some of the benefit of the lower interest, the Fed rate in there, really what was built into the market, but clearly what happened over the last week, there could be some additional opportunity.
Ed Wolfe – Bear Stearns
Okay I’m just not sure what slide you’re talking to? Isn’t it slide 21 that causes the EPS change?
Greg Swienton
Yeah, page 21.
Ed Wolfe – Bear Stearns
And where am I looking in that at?
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