Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from David Gold – Sidoti
David Gold – Sidoti
A couple of questions surrounding Janitorial, first, if we go back a quarter we were seeing some issues there you had tag work and some of the incremental work that you were doing particularly at the financials at that point the view was that maybe had bottomed out. Can you give an update on how that’s progressed?
Henrik Slipsager
I think it has bottomed out. Looking at what happened in the quarter that was a reflection of [inaudible] and also the problems in the Southeast. I think that whole thing has bottomed out for the time being. I can’t tell you what we do business with certain banks and there be consolidation coming up. I don’t know if the impact of that but its not going to be material that’s for sure.
David Gold – Sidoti
Sticking with Janitorial, it was a little softer than we had expected it’s the first time in recent memory actually seeing it sequentially down, traditionally its been sequentially flat to up third to fourth. Just curious there if you can give some color on what’s happening, is that a function of less of the incremental work, is it lower office occupancy or are we losing some business from a competitive standpoint.
Henrik Slipsager
I don’t think we’re losing any business from a competitive standpoint. I think there some adjustments that you will see in a market like this where we have done reductions with existing clients which as you can see did not impact the bottom line did have a slight impact on the top line. Its not loss of customers but in some cases we have some savings that we gave to certain customers due to the economic environment.
Also I think that this particular quarter I don’t think is representative of what you see going forward. The activity on the sale side is probably pretty compared to what we seen the past pretty good right now.
David Gold – Sidoti
So you’re saying we might see a little bit of pick up there?
Henrik Slipsager
I would not expect it to go further down.
David Gold – Sidoti
Presumably on a run rate basis we’re up to about $44 million of synergies from OneSource and your initial goal was $45 to $50 million so essentially we’re there. Do you still view the $45 to $50 million as a good range or do you think there’s even further potential.
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