Question-and-Answer Session
Operator
Thank you. (Operator Instructions). One moment please for the first question. Our first question comes from Josh Vogel, Sidoti & Company.
Josh Vogel - Sidoti & Company
Good morning. Thank you. Ken, just on your last comments there about the share repurchases, I was just curious how many you bought back during the quarter and what was the average price paid?
Karen Breen
15.50.
Ken Tuchman
We purchased 4.8 million shares and I believe the average price was around $15.50 per share.
Josh Vogel - Sidoti & Company
Okay. Great. And now outside of the peso, what other currencies are you currently hedging against?
John Troka
Josh, this is John. The other currencies that were hedged against, obviously the Philippine peso. You mentioned the Canadian dollar, the Argentinean peso and the Mexican peso.
Ken Tuchman
And the Philippine.
John Troka
And the Philippine peso, our primary hedge is in the Philippine.
Josh Vogel - Sidoti & Company
Okay and nothing else against the euro?
John Troka
Yes, a very small amount in the euro. We have a program that's in Great Britain or contract in Great Britain that is done in Spain as well that is paid in euro. So, we have a mix there, but that's a very small amount.
Ken Tuchman
We also have small hedging for with the Aussie, the Kiwi the et cetera.
Josh Vogel - Sidoti & Company
Okay. Great. Now, I know you're not discussing '09 and I am not trying to really get a feel of what you want to do on the top line there, but if I am doing my math right, over the last five quarters, you signed over $430 million in new business and I was just curious how much of this business you see contributing to the top line in '09?
Ken Tuchman
Well, again, as we have said in the past, the business that's being signed, most of it right now is going through unusually long ramp periods due to the complexity of the business. The average ramp of a new specialist, it's somewhere in the nine-week timeframe.
So, many of these awards are taking nine to 12 months plus just to get to the majority of their ramp. So to answer your question, the business that we saw, the first two quarters of the five quarters that you mentioned, we will definitely fully appreciate and realize in 2009.
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