Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Our first question comes from the line of John Emrich with Iron Works Capital. Please go ahead.
John S. Emrich - Iron Works Capital
Thanks. Hi, Joe. Hi, Michael.
Joseph G. Morone - President, CEO
Hi, John.
Michael C. Nahl - EVP, CFO
Hey, John.
John S. Emrich - Iron Works Capital
Starting with kind of the pro forma operating income margin, if you will, for the quarter, we've got in there would -- I took out the $10 million of the expenses that you called out, and we've also got a $3 million -- I'm trying to figure out the differences between this quarter and two Decembers ago and the difference between now and June '06 -- you got a $3 million pre-tax loss from the Composite business, correct?
Michael C. Nahl - EVP, CFO
Correct.
John S. Emrich - Iron Works Capital
And you also have -- how much in the way of expensed SAP implementation was there in the quarter ballpark?
Michael C. Nahl - EVP, CFO
SAP is part of the performance improvement initiatives listed on Page 4, on the Table 3 of Page 4, John.
John S. Emrich - Iron Works Capital
So part of the $10 that I've already called out?
Michael C. Nahl - EVP, CFO
No.
John S. Emrich - Iron Works Capital
No?
Michael C. Nahl - EVP, CFO
Yes, it is.
John S. Emrich - Iron Works Capital
Yes, it is. Okay, so just in general, when I was thinking of returning to the Q2 '06 profit levels by the end of this quarter, I was looking at a gross margin of 40%, an operating margin of over 11% back then. And what you're saying is we're there excepting for the two things, the seasonality of PMC and the operating loss in Composite. Am I missing anything else that I should be --
Michael C. Nahl - EVP, CFO
That's it.
John S. Emrich - Iron Works Capital
That's it, right?
Michael C. Nahl - EVP, CFO
That's right.
John S. Emrich - Iron Works Capital
So come June of '06 --
Michael C. Nahl - EVP, CFO
That comes up to be about $0.63 per share.
John S. Emrich - Iron Works Capital
Right. So coming to June of '08 -- excuse me --we should be looking at a margin structure like that, like we had back in June of '06?
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