Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Charles D. Brady - BMO Capital Markets.
Charles D. Brady - BMO Capital Markets
I wonder if you could just give us a sense of what your assumptions are on organic growth by the segments, particularly Asia-Pacific given that that’s the segment that’s held up better than the other two over the past few quarters.
Thomas J. Felmer
Historically we’ve not given guidance by region and right now we don’t have that information here. We said that we expect to have the full year negative high single digit growth rate for the company and that is across all of our businesses.
Charles D. Brady - BMO Capital Markets
Do you expect organic sales on all three business segments to be negative?
Thomas J. Felmer
Yes.
Charles D. Brady - BMO Capital Markets
With regard to margins, it would appear that your guidance implies a pretty significant deterioration of some of the gross margin. Given that the mix of business of Brady Corp today relative to the last down cycle is different given the acquisitions that have been made and the markets you’re in today, can you give us a sense of where you think margins could get? I’m assuming that margins don’t get as low as they did in prior downturns. Would that be a fair statement?
Frank M. Jaehnert
Let me try to answer this question and Tom if you have anything to add, I’d be more than happy to have your comments as well. It’s very difficult to predict at this point of time; what the business mix might be and which region is up, which region is down, which product line is up and which product line is down.
So we have tried our best to predict our net income and our EPS in a very difficult environment where numbers change daily. You know that because you’ve followed us for quite some time we don’t have long order lead times or anything like that. We get an order today and we ship the same day. We don’t have much visibility. So it’s very difficult. I hesitate to make projections on margins.
Charles D. Brady - BMO Capital Markets
On the share repurchase in the quarter, do you have the average share price?
Thomas J. Felmer
It was $36 million that we spent and it was 1.15 million shares.
Operator
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