Question-and-Answer Session
Operator
Thank you. (Operator Instructions). And our first question comes from the line of Steven Fisher from UBS. Please proceed with your question.
Steven Fisher - UBS
Hi, good morning.
Bob Arzbaecher
Good Morning Steve.
Steven Fisher - UBS
Just a few clarifications. Andy, did you say that your expense is going to be about $5 million to $5.5 million per quarter for the rest of the year?
Andy Lampereur
That's correct, yes.
Steven Fisher- UBS
So that would be a ramp back up, and what would be driving that? It sounds like you took some permanent costs out?
Andy Lampereur
Yes, the first quarter included lower bonus expense year-over-year. We were expecting that to continue for the year. The second item in there is our Long-Term Incentive Plan, the LTIP Plan that we have out there. We had to essentially write-down the value of that or write-down the reserve that we had accrued of that to-date and that was a one-time credit that came through in the first quarter. That will not repeat as we go forward. So that's the primary driver as you look forward.
Bob Arzbaecher
If you recollect that LTIP Plan, that's the plan that has some compensation if the stock gets to $50 a share, so there is a mark-to-market or fair value that goes on in that calculation which caused that.
Andy Lampereur
Right.
Steven Fisher - UBS
Okay, great. And then did I hear you say that you had some pricing benefit in industrial?
Andy Lampereur
Domestically, definitely yes.
Steven Fisher - UBS
Okay. Have you seen that holding as kind of the business that has decelerated throughout the quarter?
Andy Lampereur
Yes we have. It was primarily in North America. The biggest portion was in North America. We put in a price increase last June-July, and we actually put another one in November. It has stuck, I mean, we are definitely realizing benefit from it.
Steven Fisher - UBS
Okay, and then just to confirm that you are not currently taking any restructuring action in the industrial segment?
Bob Arzbaecher
I wouldn't say that. There are a number of opportunities within industrial as we have bought things to consolidate facilities for example in the Houston area with the SPS acquisition. We picked up a few facilities and we are consolidating around that. The same is true in Europe at a couple of small locations.
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