Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Michael Rehaut – JP Morgan.
Michael Rehaut – JP Morgan
The first question, we appreciate a lot the detail month-by-month that you gave on Slide Four in terms of the net contracts, I was hoping just for perspective from a year-over-year basis you could provide the last few months including February on the year ago basis on net orders and per community also?
J. Larry Sorsby
We don’t have that right at our finger tips, maybe by the end of the call or during the call we can gather that.
Michael Rehaut – JP Morgan
That would obviously be pretty helpful given that you also had mentioned in the press release that you still feel at this point the increase is seasonal so I just wanted to try and get a little more color on that. The second question guys and then I’ll get back in to the queue, I was hoping if you could just talk a little bit more about your expectations for cash flow certainly guidance is extremely challenging but, given the year-over-year decline in the cash flow ex the tax refund, I just wanted to know your thoughts about whether ’09 could be a positive year or a negative year as you kind of look out the next couple of quarters at least?
J. Larry Sorsby
Mike, it is challenging to make longer term projections on cash flow but looking at the first quarter Ara mentioned in his comments, you can’t just annualize the first quarter and assume that that is a meaningful number for any purpose. As he also said, we have negative cash flow in last year’s first quarter and then generated very strong cash flow for the full year. So, although I can understand why you’re focusing on this and wanting additional guidance I just don’t think anyone should go about trying to annualize our first quarter results.
Michael Rehaut – JP Morgan
No I definitely wasn’t implying that and we recognize the seasonality but just given the year-over-year comparison and the fact that the backlog is down so significantly, that’s more where I was coming from.
J. Larry Sorsby
I understand. We’re not going to give a specific projection other than to tell you that we’re laser focused on generating positive cash flow the remainder of this year. I mean, there’s a lot of things that are out of our control in terms of what’s going to happen, the pace, what’s going to happen to prices but we remain laser like focused on generating cash flow that really drives virtually every decision that we make as a company and I just can’t give you any guidance at this time beyond that.
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