Question-and-Answer Session
Operator
(Operator Instructions), And your first question will come from the line of Lisa Gill – J.P. Morgan.
[Asha Heman] – JP Morgan
Thanks, it’s [Asha Heman] for Lisa, Jim, you had mentioned that product sensation was a contributing factor to better growth margins in the quarter, could you perhaps quantify what that was and going forward do you continue to expect price increases which should benefit you and then have a second question related to the interest rate?
Jim Bierman
Sure, the component of the variance relating to product price increases is less than we’ve seen in certainly the first quarter and we would characterize pretty much as a follow on the changes we saw in the first quarter,
Primarily in sort of the July time frame and we think that’s basically run it’ course, So just speaking to your follow on question of what do we see going forward with it, We think in today’s environment that definitely is more than likely stabilized but certainly on a quarter-to-quarter basis just looking back over 2007 we’ve seen some pretty dramatic swings in the fundamentals of the raw materials that contribute to those products,
I mean you don’t have to look any further than changing gasoline prices to see what the impact within with in 2007 has been but going forward we’re not anticipating a similar environment that’s what we had in 2007,
[Asha Heman] – JP Morgan
And then would the interest rate for the swap would actually be terminated? It looks like you won’t have any floating rate exposure, could you give us perhaps what's your view on the ongoing interest expense given that the fair value of the debts bets being amortized, what that expense is going to be on a quarterly basis? I just don’t know what the remaining life is.
Jim Bierman
I think the remaining life is about eight years, That’s generally it, I don’t have in front of me the projections of what interest expense will be, That I could commit, that we would talk in some degree of specificity at our Investor Day as we look forward to 2009,
Operator
Your next question will come from the line of Larry Marsh with Barclay's Capital.
Larry Marsh – Barclay's Capital
Craig and Jim and everyone else, look forward to seeing in December, a couple of follow ups to Keith]'s question really on pricing, You had three million of a I guess, sort of onetime but unusual benefit in the first quarter with as you say, the unusual activity in commodity prices,
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