Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from John Quealy - Canaccord Adams.
John Quealy - Canaccord Adams
First on Actaris, I know you gave us some good details in the slides and in the commentary, but even if you stripped out FX it looks like year-on-year if I read your pro forma chart right in the slide, you are up double-digits in revenue again assuming some currency issues there. Is it just the mix in the heat pump business that seems to be tracking above, I think you have talked in the past maybe 8% plus organic growth in that business?
Deloris Duquette
Yes, John just a little bit of clarification, the $9 million that both Malcolm and Steve talked about on the call about being up that was in relation to what our original forecast was and we were using a Euro rate of about 145. Just a reminder that when you are looking back to Q1 of ?07 that rate was closer to 1.3. So although Actaris business has grown over the first quarter of last year from a Euro perspective, it’s not as substantial as it looks from a US dollar perspective.
John Quealy - Canaccord Adams
Correct, but it still seems to be above 8% if I factor that in. Is that a fair comment or not?
Deloris Duquette
I don’t think that it is that much of an increase over their first quarter of last year when you are looking Euro-on-Euro. And the other thing John we did do a reclassification of our [inaudible] and Europe business that accounted for about $10 million during this quarter that is not in that graph that I am showing last quarter with.
John Quealy - Canaccord Adams
So, let me just close the Actaris piece with this. In terms of revenues in a local currency basis, how much does the German heat business and water business in that seasonal period help you in Q1?
Malcolm Unsworth
We have most of the revenue from heat significantly if you want as far as the actual numbers.
Deloris Duquette
I don’t know that we quantified it to tell you the truth. If you would look on a trended basis, water tends to be about 28% of the revenue, this quarter it was 32%. I think you could basically take that delta and get close.
Malcolm Unsworth
Yes, it’s typically higher in the first quarter because of the replacement business in Germany.
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