Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of Edward Atorino with Benchmark.
Edward Atorino - Benchmark Company
I am almost never first. Thank you. Could you talk about the volume trends in some of the traditional areas, magazines, books, catalogs, inserts, financial print, et cetera?
Thomas J. Quinlan III
Sure, Ed, I can. I am sorry, go ahead.
Edward Atorino - Benchmark Company
No, it's kind of I realized, sometimes you do not want to be specific but if you could sort of put some dimension on the type of declines you are experiencing?
Thomas J. Quinlan III
Sure. And as the long saying goes, the last shall be first. Good morning, Ed, and I want to let you know, obviously, this quarter was one where every single industry vertical in the world was impacted by with their top line. We need to look at it and hopefully, in an easy way for everybody to understand, GDP is obviously what we feel as a sort of metric that can be used to see where we're headed, how things are working and if you look at what we call the four building blocks there, you have got advertising which is obviously very dependent upon how consumers spend where we participate with magazines, commercial print product, and directories.
You have got brand which again that is marketing brand recognition retaining customers getting new ones, the direct mail part of what we have got going on. You have got the business model which, for us, we looked at not only books but catalogs and obviously, books with some of the state deficits, state balancing issues that they have had in the middle of the quarter impacted us but at the same time, our customers that we had have to end up pulling their product at some point in time.
Catalogs, the same thing, we have got some real live examples of people who, during the quarter specifically, pulled some catalogs because they did not want them to incur the cost and the drop-off that they saw in their top line was directly impacted by the fact that the catalogue was not out there.
When you go down to compliance, obviously, statement printing plays a role there, the mutual funds and prospectives; those items are going to continue to occur in the economy. So, I think as you think about trends, we look to see where will the consumer be and those trends are going to drive how our business is going to end up before. We obviously know that we have got a match cost to revenues and we have done that for years and that is not going to change.
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