Question-and-Answer Session
Operator
Thank you sir. (Operator instructions) Our first question comes from the line of Steve Ferazani with Sidoti & Company. Please go ahead.
Steve Ferazani – Sidoti & Company
Good morning. Just want to clarify first on the guidance at this point you are just trying to give Q2 or is that –
Kirk Brassfield
Yes Steve that is correct. We are just (inaudible) in the second quarter and that was $0.04 to $0.06.
Steve Ferazani – Sidoti & Company
Okay so I guess –
Kirk Brassfield
Normalized after non-routine items.
Steve Ferazani – Sidoti & Company
Right of course. I guess what I am hearing is perhaps inland barge you are starting to see stabilization but it could be offset on utilization internationally into the second-half, is that a fair characterization of your comments?
Dave Mannon
The US barge business, I don’t see that stabilizing right now. We are extremely happy that we have got fixed rates working. I think it is a testament to our strategy and warm stacking our rigs and also what we have done in the last three years to improve our performance and technology in that division. But moving forward, it is still a very spotty market and so therefore we are chasing more work than we were chasing in the first quarter, so we are I guess a little bit optimistic that maybe we have seen the bottom in this market but I think it is too early to tell. As far as international, we have not seen any indications that our current work program in our areas specifically in the CIS and in the Americas is slowing down. Yes we have some rigs that are going to be rolling over but we anticipate that we are going to finding work for those rigs. The one area that we do see weakness in is in Asia Pacific and for that matter we have seen a weakness there for some time.
Steve Ferazani – Sidoti & Company
I guess the challenge on the international side will be the exploration of contracts near the end of the year, do you start conversations this early on and can you give any kind of take on that?
Dave Mannon
We have started some conversations with people, certainly some of these rigs are in areas where they have considerable amount of development demand but we don’t have anything specific to say on those conversations.
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