Question-and-Answer Session
Operator
(Operator Instructions). Our first question comes from the line of Larry Marsh with Barclays Capital.
Larry Marsh - Barclays Capital
First of all, Dave congratulations on 35 years in the industry, I know it's been nothing, but fun, and you're no worse for the ware.
Dave Yost
Thanks. Did you follow an awful lot of 35 years for sure?
Larry Marsh - Barclays Capital
Yes, that's right, don't disclose that publicly. I remember being with you a year ago June, and it seem to me you were at the time battening down the hatches on your costs, given what you were seeing in the market and the economy. Obviously some of that was pretty pressing at, you just communicated your views of the industry being resilient and such.
But I mean just in terms of sort of where you're head these days, given through the worst of the anemia comps, and you're past the Walgreens and such. Is your mindset still as cautious as it was a year ago or do you feel incrementally bit more positive?
Dave Yost
We're feeling a little more positive Larry, than we were. We've obviously picked up some new business since then. Our sense is, as I mentioned in my prepared remarks that the industry is growing a little faster in the latter half of the year, than it did in the first half of the year. So we continue to be very optimistic about the industry.
Larry Marsh - Barclays Capital
Just a quick clarification, when you talk about sort of a second and third generation fee-for-service agreements. It strikes me that some of these may have some more upside that allows you to participate with price increases. Is that at all the case in what you're seeing or are there any other data points on these next generation agreements that are different from stage one?
Mike DiCandilo
Larry, this is Mike. There haven't been many changes in the fee-for-service agreements. We continue to be very pleased, as Dave said in his prepared remarks as we renew our agreements. Some of those do have some upside, when there are price increases. But I'd say that's fairly limited, although, I think this quarter is a quarter where we did benefit from some of that upside.
Dave Yost
Just to add on, we started in fee-for-service there was some concern in the industry, that as you got into the second and third generations, that it might become somewhat combative and so forth, and we've really found that not to be the case. As we've gotten into fee-for-service, I think the value that we provide to the manufacturers has become more transparent to them, and it's improved our relationships.
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