Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Our first question comes from Mr. Zable from Natixis. Sir, you may ask your question.
Joshua Zable – Natixis Bleichroeder
Thanks very much. Hi guys, congratulations on a super quarter here especially in a tough environment and thanks for taking my call here.
Walt Rosebrough
Thanks Josh.
Joshua Zable – Natixis Bleichroeder
I have got a couple of questions. I’ll try to run through it. First of all, Mike, just some housekeeping here, I know you said foreign exchange hit you guys 2%. I’m not sure if you were just referring to the top line specifically or all together. So could you just explain because I thought a stronger U.S. dollar would help you guys on bottom line? Maybe I’m just mishearing it. And then maybe you could walk us through some of your assumptions for next year and how to think about how that can flow through.
Michael Tokich
Certainly Josh, from an FX impact on the third quarter itself, revenue was negatively impacted by 2% or approximately $7 million. Bottom line, however, was actually impacted positively by $6 million. So because of our geographic locations, the strengthening of the U.S. dollar will actually reduce revenue growth but provide a benefit to us on the bottom line for the quarter.
For the year, it is not as dramatic. We did see revenue impacted favorably by a million dollars or less than 1%. And then from the operating income standpoint year-to-date, we had favorable of about $3.5 million for the full year. So once again, revenue was impacted negatively but we do get a bigger bottom line impact on the operating income standpoint as the dollar strengthens.
Looking forward into the fourth quarter here, we’re anticipating - again, the three major currencies that we focus on are the Canadian dollar, the euro, and the peso - the euro will get slightly better, the Canadian dollar will be flat, and we’ll see a slight decrease in the peso based upon our mid-December foreign currency rates.
Joshua Zable – Natixis Bleichroeder
And that 7 million to 6 million kind of ratio, was that the right ratio to think about top and bottom line? If we want to watch the currency rates, how will that help you or hit.
Michael Tokich
It really depends on which currencies and how much volatility there is on those currencies. So I don’t think I can give you a ?ratio? that would be useful because I would be wrong.
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