Question-and-Answer Session
Operator
(Operator Instructions)
Your first question comes from the line of Sal Tharani of Goldman Sachs, please proceed.
Sal Tharani - Goldman Sachs
I just wanted to get some more color on your guidance. You generally gave out a quarterly guidance, this time you are giving out a full year guidance, what are some of the assumptions you have made in terms of your volume going forward, is it all coming from cost benefits, or are there any improvements in the business conditions also?
Brian Lipke
Let me take a shot at that first and then Henning and Dave, you guys can fill in more the details. The big reason for the change, Sal is we think that by giving annual guidance, we are actually providing more information for our shareholders to use to evaluate where the company is headed. Talking more, we have always looked at this as a long term business proposition and we think talking more about the trends we are seeing and the long term steps that we are talking and then providing the annual guidance is more useful to the shareholders.
When we talk about next year, we still think that the housing and auto markets are going to be weak and in fact, our projections show them getting somewhat weaker, so our improvements in performance are driven by an expectation for our markets, the two main markets, housing and automotive to turn around during 2009. As Henning said, there is always the chance of that, but our assumptions are not based on that happening. Our assumptions, as Henning laid out a pretty good detail are based on internal actions that we have taken on top of the full year benefits from the acquisitions that we made along with the fact that a number of the one time negative impacts that we had during 2007 will not be recurring in 2008.
Henning and Dave, you want to add anything more to that.
Henning Konbrekke
Again, we will answer it as we can, the net I think of what we said that we expect our volumes in 2008 to be up slightly over 2007. The net of all we talked about.
David Kay
That is driven by full year acquisition activities.
Henning Konbrekke
That is right and a decline in markets which would impact our business.
Sal Tharani - Goldman Sachs
And just for this purpose, it is an even distribution of this number or are you seeing a more back end loaded performance?
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