Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from [Bill Erman] with Santana Partners.
Bill Erman – Santana Partners
Paul you mentioned that you are running the company as always, enough to generate cash. Also at the same time you said at the beginning of this year that the company was taking the gloves off on pricing and was going to be more aggressive and the last comment is, is the generation of cash that is taking place this year a reflection of the sale abroad or of the continuing operations?
Paul Feeney
What I focused on in this conversation was the EBITDA numbers and what we were doing with the EBITDA. The sale of the Holland Company was really in our second quarter.
Bill Erman – Santana Partners
I am looking at your year-to-date generation of cash.
Paul Feeney
Well yes, there was some generation of cash in the second quarter. Some of that was operational and some of it is a result of that transaction.
Bill Erman – Santana Partners
But for the year, will you have generated cash out of operations excluding the sale of [inaudible].
Paul Feeney
Yes will definitely have, we are generating cash from operations right now.
Bill Erman – Santana Partners
Okay, even with the inventory. The second question is that the company over the last two years has been aggressive in repurchasing stock. Are we, as your shareholders, to assume that the Atlantis transaction was a more favorable transaction for their shareholders than in purchasing the stock at this valuation of adjusted EBITDA?
Paul Feeney
We believe that our activities with Atlantis, we don’t look at that as if there is a lot of sizzle on that. We are looking at that as if to say, there is a lot of hard work associated with it and there is going to be a fair amount of CapEx still necessary to get that business where we want it. We are looking at it as hard work, but we think there is going to be some upside for our shareholders and we also think there’s going to be some upside for the marketplace. It is going to rationalize the marketplace, so we think that other people are going to benefit by this activity also.
Operator
Your next question comes from Nick De Leonardis with Bond Street Capital.
Nick De Leonardis – Bond Street Capital
I was just hoping you could elaborate a little bit more on how you were able to get upper fund market on the volume side pretty substantially, if that was from an aggressive pricing or new product introduction or what not.
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