Question-and-Answer Session
Thank you. We will now take questions from the telephone lines. [Operator Instructions] The first question is from Rob Hinchcliffe from UBS, please go ahead.
Rob Hinchcliffe - UBS
Thanks, good morning.
Enoch Jen - Senior Vice President
Good morning, Rob.
Rob Hinchcliffe - UBS
I wanted to ask really focusing on the price down with the unnamed customer. In the past, I guess there is going back a couple of years you had price down too and margins have been down quite a bit over recent years, is this the start of something like that again, do you think other customers will follow the price down that you just granted to one customer. Was the pricing [inaudible] with this one customer? And then I guess what was the threat, last time I guess you got a lot of business, you became GM's exclusive EC mirror supplier or pretty much and Donnelly gave up a lot of the business, what was the threat this time?
Enoch Jen - Senior Vice President
Well, I think any time we enter into negotiations with our automotive customers either whether there are annual price reductions or other request of reductions, we have to look maybe not so much as a threat but as the opportunity that we have going forward to work with that particular customer. And I think in this particular situation, we saw that we had the opportunity to strengthen our relationship with the customer to help them accomplish their cost reduction efforts and gain the opportunity, the significant opportunity for a significant amount of new RCV mirror business going forward in the future.
Rob Hinchcliffe - UBS
Did your other customers put similar pressure on you to do the same?
Enoch Jen - Senior Vice President
As you are well aware, all of the automakers and particularly domestic automakers in North America are under a lot of financial pressure and one of the ways they are looking to deal with their own situations is to look for some very aggressive cost reduction opportunities with their suppliers. So we have been asked this question I think since 1990 and our response has been pretty consistent that all of our customers are very aggressive in requesting price reductions. We do take into consideration the amount of business we have with each customer, the potential additional business that we can gain with those customers, and making a decision as to whether any particular agreement is in our mutual best interest or not.
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