Question-and-Answer Session
[Operator Instructions]. Our first question is from Mike McCormack from Bear Stearns. Please go ahead.
Mike McCormack - Bear Stearns
Thanks. Hi guys. Just a question going into 2008, if you look at the numbers in this quarter and I think it might be fair to strip out the accrual for compensation expense. You missed the guidance number on the quarter on an EBITDA basis. Just trying to get a sense for how comfortable we can be going forward that we are going to be obviously pressured in Q1, but there must be a very significant ramp in second half on EBITDA. So is the thought process there that we are going to have, the current provisioning situation which I presume is getting better and then just sales being added on top of that to improve it? Then secondly, on the growth in the current quarter in the top line, it looks like voice was a pretty significant contributor there, is that just traditional wholesale voice termination or is that voice-over-IP stuff? Thanks.
James Q. Crowe - Chief Executive Officer
With respect to your second question, we would have to define some terms here. For us, we convert traffic to IP on our network. We have an interconnected circuit switch network. But our advantage in wholesale voice comes from cost advantages we have having to do with the depth of our network penetration. If I understand your question correctly, it is voice termination, but we think we have some advantages there versus others. And for wholesale voice termination, which is defined I think in numerous of our presentations, we think we have a long-term advantage. With respect to your first question, I am going to make a general comment and Sunit you might comment on the statement that we would have missed, guidance. We provided a range of $950 million to $1.1 billion for 2008 EBITDA. Sunit mentioned that there is a fairly detailed explanation of all of the factors, which determine where we end up in that range. That analysis is available, I think you said on the December 17th presentation on our website, is that the right date?
Sunit Patel - Group Vice President, Chief Financial Officer
19th.
James Q. Crowe - Chief Executive Officer
19th, excuse me. And I will repeat what Sunit said. In summary, where we end up depends on the rate or the point at which we do see improvements in the current rate of installations, supported by an increase in the rate of sales. Sunit, you want to comment on the fourth quarter?
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