Question-and-Answer Session
Operator
Thank you. At this time we are ready to begin the question and answer session. (Operator Instructions). Our first question comes from Brent Thielman of D.A. Davidson. Sir your line is open.
Brent Thielman - D.A. Davidson & Co.
Good morning, Brian, Stephanie. Congratulations on a great quarter.
Brian Dunham
Thank you.
Stephanie Welty
Thank you.
Brent Thielman - D.A. Davidson & Co.
Brian, I just wanted to confirm, I think, I've missed the number. Did you say on the tubular business you expected first quarter revenues off 20 to 30% year-over-year?
Brian Dunham
Yes.
Brent Thielman - D.A. Davidson & Co.
Okay. And in water I don't think you gave -- you quantified that you expect it to be down as well on a year-over-year --?
Brian Dunham
Yeah, I think it will be down a little bit year-over-year and as we've said the new mill installation at Adelanto was certainly a big part of that. It carried into 2009. We've also had several weather events during 2009 as well but even though it didn't seem to be a very extreme winter ahead at the wrong time in the wrong places. So, we were down for several days because of the weather in the first quarter already.
Brent Thielman - D.A. Davidson & Co.
Okay. And I guess in tubular products I mean can you give any sense of where average selling prices are now; I mean, I guess, relative to the fourth quarter. In other words I mean how much of the strength in price may be you experienced in Q4 will continue into the first quarter?
Brian Dunham
Well it's a little bit difficult to do that because it varies from product to product and as you know we have a variety of different product lines that have different pricing. I would say in Tubular products it is historically true that the price does adjust to the change in cost of steel.
Brent Thielman - D.A. Davidson & Co.
Okay.
Brian Dunham
And so steel is down -- figure steel down at least $500 a ton in Q1 from where it was at the peak. And by now prices have pretty much adjusted to that number.
Brent Thielman - D.A. Davidson & Co.
Okay that's helpful. And then on the Utah facility, do you have an estimate of annual cost savings related to that closure?
Stephanie Welty
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