Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Collin Gerry - Raymond James.
Collin Gerry - Raymond James
Real quick, Chris, I missed the depreciation for the quarter. Could you just give me that real quick again?
Christopher L. Boone
$4.3 million.
Collin Gerry - Raymond James
$4.3 million? Okay, thanks.
I guess my first question, you know, normally we talk about the Oil Field division, but Power Transmission's very surprising on the positive side, you know, revenues, but more importantly on the backlog. We think of that as an economic story and kind of just generally speaking the economy's going to drive things. How is that holding up so well? And your guidance seems to support that going forward. So kind of give us a little bit more detail about what's going on there.
John F. "Jay" Glick
I think, Collin, with Power Transmission the thing you have to understand is they're in a variety of markets that can ebb and flow. Our power generation market has been strong. We think there's continued growth in that sector, particularly in the Middle East, where people are trying to develop a more robust electrical grid and they're using gas turbines to quickly ramp up power production in developing countries and other parts of the Middle East which you wouldn't classify as developing but still the demand for power is increasing. So that's a sector that's growing for us.
Our infrastructure project business we think has some upside even over what we saw in Q2, and so we're working that in both Europe and in the U.S. And so, again, it's a sector we've been in before and been in for some time, but some of the recent projects that are under way as part of the stimulus package and other infrastructure investments that are going on around the globe are driving demand for gears in a number of different applications.
So those are the things. But PT I think benefits from not being a division focused on a singly industry. They really have a lot of diversity in their end markets.
Collin Gerry - Raymond James
I guess back to the Oil Field side, things continue to slide. We can't really see the light at the end of the tunnel in terms of the inventories getting worked off out there in the field. It sounds to me like the speed at which we see those inventory levels go down is going to be very much driven by near-term oil prices. Is that a correct assessment? So if we see things continue to slide here near term than maybe it's not a 2009 event, it’s a 2010 event before we see things bottom?
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