Question-and-Answer Session
Operator
(Operator Instructions) We will go next to Nishu Sood with Deutsche bank.
Rob Hansen - Deutsche Bank
This is actually Rob Hansen for Nishu. In the release you mentioned that the incremental multifamily and light commercial sales. So just in general, how much of your sales, percentage wise is in those end markets now, and what is kind of your target over the longer term?
Floyd Sherman
Yes, I believe the percentage has grown slightly over 10% of our total revenues. Clearly it’s a market we like to continue to expand into. We’ve developed the infrastructure, the expertise and we will look to expand over the coming quarters. Obviously, we do not believe that the multi-family mark or light commercial is immune to the correction that’s going on. So that in and out of it sales may limit our ability to increase that percentage, but it is something in the long term we want to continue to try to penetrate.
Rob Hansen - Deutsche Bank
In terms of types of construction projects, a lot of these are like the student housing that you had mentioned in the past.
Floyd Sherman
I can be military dormitories, student housing, apartment, complexes just any number of things high-rises?
Charles Horn
It can even be low rise office buildings.
Floyd Sherman
Yes.
Rob Hansen - Deutsche Bank
Okay. That’s all I’ve got. Thank you.
Operator
We’ll go next to David Manthey with Robert W. Baird.
David Manthey - Robert W. Baird
Hi, guys good morning.
Charles Horn
Hi, David.
David Manthey - Robert W. Baird
In the last call you mentioned that you though your breakeven point was something less than $100 million per month and I don’t know if there’s any finer point you can put on that this quarter given the actions you’ve taken since then. Is there a range or something or you can give us an idea of where you think your break-even point is?
Charles Horn
Based on the cost structure that we’re putting in place right now and with the adjustments we’ve made and the efficiency improvements, I think that number is now closer to $80 million to $85 million a month in terms of sales. So somewhere in the $960 million to $1 billion in annual sales per year.
David Manthey - Robert W. Baird
Okay and in terms of the locations that you have open right now, I would imagine it’s all over the map, but is it safe to assume there’s a number of locations that you have, you cut down, to basically bear minimum costs that next step for you as you’ve been doing right along we do to close the operation?
- To read the full transcript on Seeking Alpha, click here »
