Question-and-Answer Session
Operator
Thank you. (Operator Instructions). Our first question is from [Irwin Marquees] with KeyBanc Capital Markets. Please proceed with your question.
Irwin Marquees
Hi guys how are you doing?
David Fiorenza
Hi.
Irwin Marquees
Hey, could you give me a breakdown on the volume price in currency for your revenues there of 24%. What was the FX?
David Fiorenza
Rounded numbers if we are up 24%, 18 or so percent from shipment, 3% from FX and 3% from price mix.
Irwin Marquees
Price match. Great. The raw materials base oil - look like we even though crude is being flying but base oil is been fairly flat through out the quarter. How much is that up for you guys year-over-year?
David Fiorenza
We've seen a lot of base oil increases. If we look at the first quarter this year compared to the last quarter of last year our purchasing guys are seeing high single digit increases across the board.
Irwin Marquees
Okay.
David Fiorenza
I don't have an exact answer for you on base oil specifically.
Irwin Marquees
Got you. Couple more questions. The next question was - a real quick one. Was the law suit is there probably more color on that, is there any regard to?
David Fiorenza
It was just an old suit where we thought we had some pricing issues and we got a settlement from it. But there is nothing, no story there.
Irwin Marquees
Great. And then have you – its sounds like you have been putting crude price increases, and what's the range of those price increases and where you able to any prices increases back in the December area, January when they take affect?
David Fiorenza
We started our discussions early in the first quarter. They kick in across the board but not a major kick-in the first quarter.
Irwin Marquees
Okay.
David Fiorenza
And the percent is different at every customer. So there's really no – there's no one number I have to get in.
Irwin Marquees
Great and then you guys said that you feel like your – your trying a little bit catch-up. Is that in regards to the market other competitors in the market putting through price increases ahead of you guys? Or is the fact that the escalation of the raw materials are going so fast that is more of a catch up?
David Fiorenza
The latter. It's just moving so quickly, every time we raise prices we find out they have gone up again.
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