Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Mike Harrison of First Analysis. Please proceed sir.
Mike Harrison –First Analysis
Hi, good morning.
Myles Odaniell
Good morning Mike.
Mike Harrison –First Analysis
I was wondering, is there any way you can quantity tie the EPS impact of having one less week in this quarter versus last year?
Randy Martin
Basically, be 7% of the $0.25 that we had last year. If you just look at it on a 1/14 type approach.
Mike Harrison –First Analysis
Okay. You know. As I look at the contribution from the Creative acquisition, that might have been a little bit lower than at least I was expecting based on sales for last. EBITDA after adjusting for the last business. Can you talk about how those businesses have been performing relatively to your expectations and what others seasonality to that business?
Randy Martin
Go ahead Myles.
Myles Odaniell
I can talk to that, Mike. The business is performing slightly ahead of the budget that we put together and slightly ahead of what was in our prospectus when the transaction was consummated. There is a heavy seasonal element, as I think you know. A lot of Creative packaging business goes into packaging for berry and fruit and things like that and that doesn't really kick Calendar, our fiscal quarter two. So, Q1 is typically a pretty slow quarter relative to the other three.
Mike Harrison – First Analysis
Okay. That makes sense. Myles, as you look at the changes would you like to make or at least consider making in the portfolio, can you talk about what the company starts to look like when that process is complete or close to complete? Maybe what end markets and what lines of business you hope make up a bigger part of the company and what?
Myles Odaniell
I will make some general statements and as we get into this and specifically we talk about some of the specifics around some of the turnaround initiatives. My intent to the extent is it is going to impact our folks to impact things internally and then talk to the rest of our stakeholders here first. But in terms of directionally where we are going with the portfolio, we have a number of businesses that are what I would characterize as have some heavy-duty commodity attributes and what I would like to see us do is transition out of some of those and hopefully transition into businesses that have, A, more growth potential or B, higher profitability and I would put packaging into the category that embodies the last two. So directionally what I would like to see us do is transition away from some of the more commodity-like products and into some higher value segments.
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