Question-and-Answer Session
Operator
(Operator Instructions) We will pause for just a moment to compile the Q&A roster. Our first question comes from Bill Loomis – Stifel Nicolaus.
Bill Loomis – Stifel Nicolaus
One thing on the backlog, the backlog was up year-over-year but flat sequentially but you won more than your revenue. Was there anything that came out of backlog? And then my second question quickly on the intelligence contract that you lost, you said you had the people redeployed. Does that mean no impact to revenue?
Stephen C. Hughes
On the first question every quarter there’s some amount of backlog that is de-obligated by customers for various reasons and that’s an explanation to why backlog is flat from Q2 to Q3.
Stanton D. Sloane
On the second part, Bill, we have open positions for all of the folks that were affected on that loss. Clearly we prefer to win things than lose things. So I don’t want to misrepresent them as we’re always disappointed when we lose a contract. But the thing that’s disappointing about that loss is that it would have provided some additional growth that we won’t be able to count on in that contract. So when you said to impact to revenue I think the answer is yes because we would have had some growth that would have come with that contract. I think our guidance is consistent with what we see and we expect to put all those folks on revenue generating work pretty quickly.
Operator
Our next question comes from Tim Quillin – Stephens, Inc.
Tim Quillin – Stephens, Inc.
In terms of bookings I think year to date you’ve announced $1.7 billion in new business. What percent of that is new or expanded work and at this point do you feel like you have enough coming into backlog to drive an acceleration of growth as you look into fiscal 09?
Barry S. Landew
There’s a significant amount of new work in that $1.7 billion, Tim. It’s basically work we won in the whole four quarters last year. We feel like to drive the kind of growth we’re looking at we need to win the amount of business we’ve been winning and to increase that going forward.
Stanton D. Sloane
Let me add a little bit of color to that as you would say. The pipeline, if you analyze our pipeline I feel pretty good about it. If you look at the amount of work that’s in adjudication, if you look at the value of the work that is currently in the proposal development stage and look at the rate that we’re growing backlog, all of those leading indicators look pretty good to me. The uncertainty I think that I see has to do with the election and the new appointees and those kinds of things and also there’s still a little bit of uncertainty around the Supplemental which is not a direct impact on us but if doesn’t get passed then of course it has the effect of eventually affecting other kinds of spending. So that’s the concerns but I think the pipeline we have today looks pretty robust.
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