Question-and-Answer Session
Operator
Thank you, sir. (Operator instructions) Our first question comes from the line of Bo McKenzie with (inaudible) Capital. Please go ahead.
Bo McKenzie
Hey, guys. Congratulations on the good quarter. If we were to look back into 2006, 2007, when there was an awful lot of equipment coming out for the pressure pumping and workover market, about what percentage in the business that represented at that point in time?
Michael Batten
Well thanks for your comments, Bo. What you saw was a huge run up in orders that took place in our backlog during that period and the growth of actual shipments occurred of course on a delayed basis or off of that run up in backlog and in orders. So we don’t give out exact numbers on how much we have in each one sector, but we do have – we did see a significant run up in volume for us that did impact our overall sales rate and of course our profitability.
Bo McKenzie
But, would it be fair then to say that the level that you got in the energy segment is at least, as a percentage of the business, substantially lower than it would have been a year ago or two years ago given the fact that a lot of the workover and pressure pumping business has shipped out?
Michael Batten
That characterization would be valid. We are seeing that the pressure pumping sector of our business has declined over the last year starting in the second quarter of fiscal '08, the year just concluded. I might add though that we are very pleased about the fact that while that demand subsided somewhat, we have seen an offsetting and almost as profitable run up and continued run up in our commercial marine and mega yacht sales. So we have seen an ability to roughly maintain the margin rates.
Bo McKenzie
Well if I'm right in terms of the data I've got, it does look like that pressure pumping side of the market's going to be coming back fairly soon, hopefully, knock on wood. Separately, if you were to look at some of the press releases that came out of Brunswick in the last quarter, obviously, their boat business has been going through it's share of issues. Now, they're in a totally different end of the market than you guys are, but is there kind of a rule of thumb you could give us about how much the top end of their business overlaps with yours and whether or not the – how would I say this – the lower end of the mega yacht business is seeing any kind of pressure as opposed to the high end?
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