Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Adrienne Colby - Deutsche Bank.
Adrienne Colby - Deutsche Bank
It looks like SG&A came down considerably in the quarter and I'm just wondering what we should be using for the fourth quarter, if we can assume that it'll stay around this level or return to some of the levels we were seeing earlier this year?
Larry Trachtenberg
Well, Adrienne, SG&A is down as a percentage of lease revenues primarily because of the synergies involved in the Mobile Storage transaction. We've been able to close a lot of branches and spread the revenues that we have. Really have the same revenues and just lower operating expenses because we have the same - you know, the same number of branches can support a much higher level of revenues. And so we should be able to maintain the same kind of operating margins and the same kind of SG&A going forward.
Steve Bunger
And on top of that there were some period costs related to Europe that we couldn't consolidate that will be further reduced in further questions as well.
Larry Trachtenberg
And further, we're also hopeful that we'll be able to get some help in SG&A in the fourth quarter with lower fuel prices.
Adrienne Colby - Deutsche Bank
And I noticed in the past downturn revenue growth troughed around 7% and I was just wondering if you could comment on what your end market exposure was like then versus now, particularly what your nonresidential construction exposure was like then.
Larry Trachtenberg
You know, we don't have the exact data right now. We're in the process of compiling that. But I would anticipate our exposure is very similar to what it was before. The difference between last time and this time is we didn't have the piece in the United Kingdom, and this time we're in more geographic markets.
Operator
Your next question comes from Philip Volpicelli - Goldman Sachs.
Philip Volpicelli - Goldman Sachs
Just looking at the price increase you had in the third quarter, can you give us a sense of how big that was?
Steve Bunger
You know, it was a combination of a price increase and a continuation of our mix. How would you clarify it as far as between the two pieces, Larry?
Larry Trachtenberg
Well, probably primarily price at this point. And the increase third quarter year-over-year on a pro forma basis was about 1.5%. We did put through a price increase in September on a portion of the fleet in the U.S., but it's basically a - probably averaged about 5%, but it was only on a portion of the fleet so it was probably like maybe a 1% price increase.
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