Question-and-Answer Session
Operator
Thank you. (Operator instructions). We'll go to Charlie Brady with BMO Capital Markets.
Charles Brady - BMO Capital Markets
Hi. Thanks. Good morning, guys. With respect to the shipments in the LNG job into Qatar, how much -- how far out do those shipments go? Obviously, that's been a pretty good boost to the margin and you've been above 20% now in energy for a couple quarters, which is what I would argue probably above a long-term sustainable rate, but obviously getting good benefit from those shipments. How much longer should we count on that happening?
Frederic Burditt
Charlie, there will be -- we'll still see some of that -- continuation of some of that business into the fourth quarter. That's the lion share of the rest of that large contract.
Charles Brady - BMO Capital Markets
Okay. And then with regard to the margins on instrumentation and your guidance for '08 of 10% to 12%, in order to get to the bottom end of the range at 10%, it implies a pretty Draconian margin assumption in fourth quarter. Is there something I'm missing there or is it just conservatism maybe on your part in regard to the range of the margin?
Frederic Burditt
I think it's more of the latter which you talk about.
William Higgins
I think we're anticipating what we don't know in a sense, that there's some short cycle business that may or could drop off in the fourth quarter.
Frederic Burditt
And there is some FX effect that will hit us in that quarter, too.
Charles Brady - BMO Capital Markets
Okay. And with regard to the pension expense, is there any -- given the market conditions and what's gone on there, any impact to pension assets and pension expense from that?
Frederic Burditt
No, there is no impact this year.
Charles Brady - BMO Capital Markets
Thanks.
Operator
We'll take our next question from John Franzreb, Sidoti & Company.
John Franzreb - Sidoti & Company
Good afternoon, everyone.
William Higgins
Hi, John.
John Franzreb - Sidoti & Company
You talked a little about market share gains. Could you elaborate little bit on what end markets you're gaining market share and who is it from if you could?
William Higgins
We believe that in the energy business, we are taking some market share where our responsiveness is faster that would be against tier 2 and tier 3 competitors in North American short cycle business. We are winning new programs in aerospace which are upgrades to existing platforms that would be against the typical competitors we have in the aerospace components world.
- To read the full transcript on Seeking Alpha, click here »
