Question-and-Answer Session
Operator
Thank you. (Operator instructions) Our first question would come Rich Wesolowski with Sidoti and Co.
Rich Wesolowski – Sidoti & Co.
Thanks, good morning. Jeff, how much did you say the Molycorp added?
Jeff Feeler
Molycorp was about $1 million of total revenue including transportation during the quarter.
Rich Wesolowski – Sidoti & Co.
Including transportation? So if you look at Honeywell, Molycorp, and I forget, is the Army Corp event or base?
Jeff Feeler
It’s event.
Rich Wesolowski – Sidoti & Co.
Okay, so when you put those two together, are those the overwhelming majority of your event driven treatment and disposal revenue?
Jeff Feeler
That’s correct.
Rich Wesolowski – Sidoti & Co.
Okay, with the railroads continuing to raise pricing, I know fuel costs or energy is coming down, would you expect that unfavorable trend with the Army Corp spending more money on transportation, less on disposal would continue past this quarter?
Jeff Feeler
I would say no. We are seeing some fuel prices dropping and we are seeing the Army Corp projects picking up moving into the fourth quarter. They already have picked up.
Rich Wesolowski – Sidoti & Co.
Okay, is there any sign that customers more broadly are pulling back on either base or event driven work based on the economy?
Stephen Romano
Not that we’re yet seeing. We are watching closely and carefully. We’ll continue to do that but based on what we’re seeing so far, the answer’s no. And we’ve been able to pretty much understand what the decrease was in the 3rd quarter, largely to the core of engineers. And the Molycorp Project – and this is not a typical, is a large cleanup job near its completion. There’s decisions that need to be made about the final excavation and this sometimes can lead to a bit of a lull period before winding things up. And that’s what we’re experiencing. And at the Molycorp site in Pennsylvania. We’d initially expected that job to be completed by September and at this point, it may or not be completed by year end. There does remain a material amount of waste to be removed from that site and that project has also picked up and is moving.
Rich Wesolowski – Sidoti & Co.
Okay and a lot has happened, you know, in the world since you guys have last spoken publicly. How significantly if at all has your internal expectation of how much money the company is going to earn in 2009 changed since the 2Q call?
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