Question-and-Answer Session
Operator
Your first question comes from [Marshal Atkins - Principal Financial Securities].
Marshal Atkins - Principal Financial Securities
Phenomenal quarter, and obviously the only concern here is the backlog being down somewhat. So let’s kind of, you mentioned that you have some big bids that were coming up. So, I guess, that the question is tell us a little bit more about the bidding environment right now, are these awards that were kind of delayed, they were going to be push back, what’s our confidence level that we are going to be able to fill that backlog gap and finally on that same issue?
How much of these revenues that we are seeing actually come from backlog? Are we going to see a shift towards more of the callout work? So maybe backlog isn’t as relevant as it might have been before?
John Clerico
That’s a very good set of questions, and really captures the essence of where we are in our business and as a company. If I might I would maybe say a few words in background as to where our backlog is now.
As is normally the case particularly on international projects, lead times traditionally have been fairly long, 12 to 18 months. So where we are now to a certain extend is the result of some pricing and other decisions we made a year or two year and half ago and to be honest if we had couple of those to make over again we would make them differently.
Second factor, we have had a number of projects delayed or postponed, I can tick off a number of them and we can if you would like, but I pick those are fairly well known. We certainly have had a number of those. We have come out in a few cases, second best on what are called alternate competitive bids.
I notice that most specifically in Latin America, our market is always competitive, but here in the last, certainly since I have done a global and in the last six months particularly, bids are alternate competitive and there is for any piece of work a lot of people bidding, and I would say generally as a result of those things and some others, we are finding somewhat shorter lead times maybe because of project has been known about for sometime, but put off and then bids are requested on fairly short notice.
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