Question-and-Answer Session
Operator
(Operator Instructions) Your fist question comes from Tyler Hojo – Sidoti & Company.
Tyler Hojo – Sidoti & Company
I guess the first question just in regards to the restructuring, I guess $0.16 this quarter I thought I remembered you guys said it was going to be about $0.13. What’s the expectation for additional restructuring that’s kind of in the guidance? I guess that would be a good starting point.
Robert F. Weber, Jr.
At present there is no further restructuring in our outlook for the remainder of the year. So, in our guidance the $0.16 represents everything that we anticipate at this point in time. So far, as we mentioned, our outlook and our quarter are consistent so we don’t see anything further at this time for the remainder of the year.
Tyler Hojo – Sidoti & Company
I guess just moving to something else, the engine systems business obviously, it was weak and I guess certainly it seems like most people probably anticipated that. But, can you maybe just talk about what your expectation is in regards to has that business bottomed here just in regards to an aggregate sales level? Or, do you anticipate further weakness? Any color you could provide there would be helpful.
Robert F. Weber, Jr.
We would love to say that we believe that it maybe bottomed out. I’d say at this point there is that possibility but I think we may still continue to see some continued decline albeit at a perhaps more moderated pace. So, I know that kind of sounds like an answer on both sides of the equation but I think the reality is we believe a lot of the downside has been reflected and there is the possibility that we would see kind of moderation here as we go. But, clearly I think the rate of decline will be less in the remainder of the year.
Thomas A. Gendron
I’ll just add to that Bob that a further slight decline is in our outlook.
Robert F. Weber, Jr.
That’s right.
Tyler Hojo – Sidoti & Company
Then just lastly, if you could maybe just talk about maybe where the wind inverter business is. I know there are kind of some opportunities with GE on that business and maybe if you could just generally talk about any sort of near term opportunities within the stimulus bill.
Thomas A. Gendron
- To read the full transcript on Seeking Alpha, click here »
