Question-and-Answer Session
Operator
(Operator Instructions). And your first question is from Brian Zarahn from Barclays Capital.
Brian Zarahn – Barclays Capital
Good afternoon.
Curt Anastasio
Good afternoon.
Brian Zarahn – Barclays Capital
In your transportation segment, any changes to your views on volumes given the trends in the past few quarters?
Curt Anastasio
No, I don't think so. I think we had guided to a slight reduction in volumes this year, but higher revenues and higher profits, so no change.
Brian Zarahn – Barclays Capital
Okay. I’m looking at asphalt, you mentioned you expect a lot of the money to be spent this year, but how should we think about the risk that the stimulus spending will miss the paving season this year and really won't have an impact for 2010?
Curt Anastasio
But you will see a lot, you will see most of the impact actually after '09, to 2010 and 2011, but we get increasing confidence as time has gone on here – we started out being very conservative about this late '08, when people asked us about it and we were saying look it's a political process and we're going to wait till it plays out. Well, it's been playing out. In March, the Fed released the funds, the states are now committing the projects. So, we have much greater visibility to say that we'll see the beginnings of an impact in July or August of this year for us in terms of asphalt demand us on. The effect for this year really is a converts on the demand side, what we think would have been a slight decrease in demand year-over-year to a slight increase in demand year-over-year, but there's even a bigger impact in 2010. And there is some impact in 2011 as well as the projects get funded from the stimulus money.
Brian Zarahn – Barclays Capital
And can you provide the cash balance for the end of the first quarter?
Unidentified Company Representative
It's about $12 million at NS and a few million dollars at NSH.
Brian Zarahn – Barclays Capital
Thank you.
Unidentified Company Representative
We basically paid off some debt by sweeping some cash from overseas.
Brian Zarahn – Barclays Capital
Thank you.
Curt Anastasio
You're welcome.
Operator
Your next question is from Chris Taylor from Evergreen Investments.
Chris Taylor – Evergreen Investments
Thanks. Couple of questions, but first of all, the cash flow statement and the balance sheet statement were missing from your press release?
- To read the full transcript on Seeking Alpha, click here »
