Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Your first question comes from Vincent Lin - Goldman Sachs.
Vincent Lin - Goldman Sachs
This is Vincent sitting in for Julio. If you have not answered, we are just wondering concerning that there’s only one quarter remaining in the year, just wondering the range in terms of the EPS guidance that you have provided for the full year in terms of between the top and bottom end what was baked into the assumptions and what are some of the assumptions that you have considering in terms of providing the guidance?
Michael Monahan
Yes, I think Vincent what we tried to do is narrow the range somewhat obviously that we’re down to one quarter and I think we considered the same factors that we’ve looked at all year. The economic outlook, performance in our business and you know the normal patterns in our business in the fourth quarter.
Vincent Lin - Goldman Sachs
Just given the type of renewals in terms of the increased volume uptick in renewal volumes that we have seen over the last few quarters, just wondering if maybe you can provide some color in terms of how do the renewals play into expected revenue growth over next few quarters? And maybe longer term in terms of how the revenue trajectory could play out versus the margin.
Murray Martin
As we’ve mentioned earlier, the revenue on the lease extensions is about 70% of what it would be in replacement. However, there are lower costs so over the term, the margin is equal to positive in the entire stream. So we would expect this to continue over the next quarters. We don’t know when the recessionary environment will dissipate but during that time we would expect this to continue and have a negative impact on our mailing revenues. But across the long term it should be relatively neutral on the EBIT side.
Operator
Your next question comes from Ananda Baruah - Brean Murray, Carret & Co.
Ananda Baruah - Brean Murray, Carret & Co.
The first one is can you just give us any update on what you guys are seeing in terms of terms of the U.S. mailing business, maybe linearity kind of through the quarter? I believe exiting last quarter you said that you’d seen it maybe soften a little bit or I think maybe the exact language was ?not come back? as you would have expected in the final months of the quarter.
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