NewMarket Q4 2007 Earnings Call Transcript

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2008-02-01 11:01:25.0

Tags: NewMarket Corp.

Question-and-Answer Session

Operator

(Operator Instructions) Our first question comes from the line of Saul Ludwig with KeyBanc.

Saul Ludwig - KeyBanc

Good morning, David.

David Fiorenza

Good morning.

Saul Ludwig - KeyBanc

Could you give us the components, your revenues were up 18.7%? What was the split between volume price and OpEx?

David Fiorenza

For the year?

Saul Ludwig - KeyBanc

For the quarter?

David Fiorenza

For the year?

Saul Ludwig - KeyBanc

And then for the year?

David Fiorenza

I have the year. And then do that split in the quarter. For the year it's roughly 50:50 price and volume mix and then on the price side about half of that was currency and half of that was price. The 25 currency, 25 price, 50% volume.

Saul Ludwig - KeyBanc

But was your volume actually up for the year?

David Fiorenza

No, such ?

Saul Ludwig - KeyBanc

Your volume was down 10%, and the first quarter was down 6% and the second quarter up only 6%, and the third quarter see we were sort of that a negative cumulative for nine months. Do you have any idea what your volume was in the fourth quarter?

David Fiorenza

Yeah. We know what the volume was, is good mix is what it really was down to, you just look at everything.?

Saul Ludwig - KeyBanc

So, may be price mix is one component, but what was the volume?

David Fiorenza

The volume component is on a high level, but the units were flat. But that's not a good comparison in our business.

Saul Ludwig - KeyBanc

I understand. And that's for the fourth quarter?

David Fiorenza

Yes.

Saul Ludwig - KeyBanc

So those are flat volumes for the fourth quarter?

David Fiorenza

For the third quarter, yes.

Saul Ludwig - KeyBanc

For the fourth quarter?

David Fiorenza

Yes.

Saul Ludwig - KeyBanc

Okay. And then price mix, and how much was currency?

David Fiorenza

In which period do you ask?

Saul Ludwig - KeyBanc

In the fourth quarter your revenues were up, you're up a 19%. How much of that 19% was currency?

David Fiorenza

Hold on a second. Currency for the quarter-to-quarter was about $3.5 million. I don’t know the percent?

Saul Ludwig - KeyBanc

That's on FX?

David Fiorenza

Yes.

Saul Ludwig - KeyBanc

Okay. $3.5 million and the so the difference volume was, so $3.5 million would be, on a base of $300 million about 1.1%, 1.2%. So it would seem like pricing mix with a bit up like 18% or something that like a pretty big number.

 

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