Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Peter Lisnic – Robert W. Baird
Peter Lisnic – Robert W. Baird
I was wondering, if I look at the turbine systems segment and you posted double-digit growth and I understand with aero and the strong industrial side of the business, how sustainable is that sort of growth rate especially on the industrial side because I would imagine there’s some backlog that you’ve built there that you’re probably working off of, what’s the outlook for the industrial piece of that business.
Tom Gendron
Right now we still believe we’ve got good outlook, it’s a combination of new builds but also aftermarket sales on the industrial turbine side. There’s no doubt that financing of projects could impact future growth. Its something we’re keeping a keen eye on. But we also have some optimism that around the world infrastructure projects are being looked at as some of the way to offset some of the economic decline.
And to get something moving and done quickly as we were highlighting in our prepared comments is turbine is one of the few ways to put in quick infrastructure with a lot of output. So subject to the financing of these projects, we should continue to see some reasonable sales there but if the financing doesn’t come through that’s going to be a big wildcard.
Peter Lisnic – Robert W. Baird
Can you maybe carve out what your comparisons were on industrial aftermarket versus industrial OEM and then maybe do the same for the aero business.
Tom Gendron
I don’t have the industrial right off the top but our aero business continues to be about half aftermarket half OEM.
Peter Lisnic – Robert W. Baird
I’m just wondering what the sales comparisons actually were quarter over quarter, December 2008 versus December 2007 quarter.
Bob Weber
Its much more difficult, on the industrial its much more difficult for us to differentiate between aftermarket in some cases and OEM so we have not disclosed that split. On the aero side the percentage remains approximately the same and OEM I think if you run the numbers here on where we’re at is roughly flat with the prior year, the industrial being up, its up slightly. So that would say that aftermarket for aerospace would be up very slightly during the quarter from last year.
Peter Lisnic – Robert W. Baird
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