Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from Michael Schneider with Baird. Please proceed.
Michael Schneider – Robert W. Baird & Co. Incorporated
Good afternoon guys.
Unidentified Company Representative
Hi, Michael.
Unidentified Company Representative
Hi, Michael.
Michael Schneider – Robert W. Baird & Co. Incorporated
Obviously conditions are tough. So, I guess maybe if we could just start by parsing out pricing contribution in the quarter. So we can understand what volumes are actually down maybe either by segment or by channel as well, if you have?
William C. McCartney
Well, in North America Mike the pricing was up maybe 1% or 2% versus last year. The rest of it was all units, unit declines. And I don’t have the specific breakout for Europe, but I think the answer would be something very similar where pricing was very modest. And the change really is in units. I mean, we are seeing, as Pat mentioned more pressure on pricing. So some of the price increases that we have talked about in the past are starting to be given away to remain competitive.
Michael Schneider – Robert W. Baird & Co. Incorporated
And can you give us a sense of what’s it looking like in terms of percentages, Bill. Are we talking low single-digit price declines or they are greater than that?
William C. McCartney
Well, in total it’s only a couple of point so far. It’s not a major issue and we’re trying to manage it, because we still have high cost copper in the inventory.
Michael Schneider – Robert W. Baird & Co. Incorporated
Okay. And then could you just give us a view in the January. And what the order trends look like again by segment and by channel. And then I guess just final question, if you could just comment on earnings run rate in Q1. Should we expect, I presume that sequentially, earnings will be down as they have been in the last three years. But should we also expect earnings to come in below the $0.39 of a year ago?
William C. McCartney
Yeah, I mean Mike as you can tell from Pat’s comments. I mean, the order entry rates we’re seeing a decline. So, as you know we don’t give specific guidance. But you can expect that earnings will be down in the first half, because of lower volume.
Patrick S. O’Keefe
Yeah, Mike the way I would describe it is we saw a leg down in terms of incoming order rates starting in November, continuing right through to today.
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