Question-and-Answer Session
Operator
(Operator's instruction) Your first question comes from the line of Tim Thein - Citigroup.
Tim Thein - Citigroup
My question Richard is on your comment within the food and food service segment. I think it was centered down in terms of the market share gains will not kick until the second quarter. What for them to kind of offset or what would be the number in terms of kind of organic growth for the rest of the business or organic declines for the remainder of the business? I am just trying to get an idea in terms of what those mean.
Richard Wambold
Okay, well I did not mean to say that we did not have any market share gains in the first quarter. We did. What I meant to say is if you look at the seasonality of our sales, obviously a lot more of the new business that we brought on is really going to shift, really begin shifting in the second quarter. So, it is continuing thing but it is going to hit stronger in the second and third quarter so obviously the impact that we have in the first one. When you say, what does it mean for organic growth, it obviously means that we have the potential of depending on exactly what the market does and things slightly negative there to somewhat positive in that business, all things are taken in. I mean, not breaking out the new business from the old business but we have a reasonable expectation of being pretty close to, that is slightly positive in food service, I guess slightly negative in consumer side of the business and that can net out flat for the year.
Tim Thein - Citigroup
Okay, Richard, I know it is tough to put numbers on this just because the market is pretty tough to define but what is your best guess in terms of what your outflows relative to the market however you define that since Prairie has been fully integrated?
Richard Wambold
Okay, I think if you look at, it is very difficult to get a sense. I think you are looking for me to give you what is the market doing in food services and what we are doing. It is really difficult for us to pin that down. If you look at some of the data that we see, you can guess that the market is down 6% or 7%. Certain channels or certain markets are down even more than that but other channels are doing pretty well and I guess if you look at us in total and say that we are flat, obviously we have been moving our mix with the Prairie acquisition in a more balanced way so that we are less sensitive to the market downturn than what we used to be and it is a bit of surprise to use frankly but we are getting more of where the business is going in a down environment which is helping us offset some of the places where it is declining more like tablecloth and some of the distributor products. We are actually seeing more in faceted in other areas like that.
- To read the full transcript on Seeking Alpha, click here »
