Question-and-Answer Session
Operator
(Operator Instructions) Your first call comes from Arnold Ursaner – CJS Securities.
Arnold Ursaner – CJS Securities
The question I'd like to focus on is the Ion. You mentioned you shipped 117 in the quarter for roughly $7 million of revenue. A $60,000 selling price is lower than where it's been if I'm not mistaken. Did you in fact lower some prices on that product?
Michael Elia
Not really during the quarter. We had, I think the total sales volume was actually $7.2 million or $7.3 million in revenue. We did do some promotional activity in Europe but overall, that's the average sales price through our distribution here in the U.S. and it's actually pretty close to what we would expect.
Arnold Ursaner – CJS Securities
You said you had added 46 orders. Can you give us a sense of the total backlog for the product?
Marc Giles
No, I don't have the total backlog currently for the product available to me at this moment.
Arnold Ursaner – CJS Securities
Along the way you've had some situations where you've had what you would call soft orders, you take an order but it's subject to the client being able to review the product. You showed it at a trade show. Should we assume that these 46 are no longer 'soft orders' but firm orders with either a deposit or a delivery date of some sort?
Marc Giles
That's correct. These are booked orders. We don't do soft, we're not doing anymore soft orders as we have all the demonstration systems out in the field now so customers can come in, see it, test the machine at a distributor's site and make their own decision.
Arnold Ursaner – CJS Securities
Spandex obviously has a lot of feet on the street, should have a pretty good pulse for trends and changes within the industry. Can you give us a feel for sort of what has evolved over the course of the last few months and what they're hearing as they get out in front of clients currently?
Marc Giles
As far as the Ion is concerned, the buzz is still extremely strong and they generated tremendous leads in Europe and very hot prospects, so we feel very good about the prospects there. The demand side, the want side on the Ion is very strong.
Of course, their customers are increasingly experiencing difficulty in getting credits for leasing that's necessary for many of them to purchase the machine. So how that develops will delay customers' ability to have them purchasing the machine and that's primarily why we dropped down our expectations for the second half of the year.
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