Question-and-Answer Session
Operator
(Operator Instructions) And, your first question comes from the line of John Quealy from Canaccord Adams. You may proceed.
John Quealy – Canaccord Adams
Hi, good morning, Rich and Rick, a couple questions. On the outlook, you did talk a little bit about water. Can you give us a little bit more detail? Was it manual read? Was it AMR? Was it commercial? What part, or is it broad-based that you're seeing on the water side, in the headwinds that you're getting?
Richard Meeusen
Oh, I think it's probably more of the AMR side, only because there's a – excuse me, I'm [death warmed] over today – only because those are generally longer lead times.
Unidentified Corporate Participant
But, you see Mark, it's not even so much delays, whether it's an announced delay. We're just seeing a longer sales cycle on some of these projects.
Richard A. Johnson
Yes, this is Rick. Let me make one thing clear about our reference to near-term projects. We have not seen any of the current projects that are in process being cancelled or pushed out. What we did start seeing, in September, anecdotally from the field sales [force], were that some of the projects that were in the pipelines that were coming in the near term, some of those cities – and it's not widespread, that's why we use the word, "some".
Some of those cities are starting to delay because of the current economy and just saying we're not sure what's going to happen. We don't see any projects going away. We're not aware of any projects that have been canceled. It's just some of the cities have said we're not ready to start yet. We want to see what's happening with the economy.
John Quealy – Canaccord Adams
And, then, in terms of the industrial side, obviously a lumpier business, a much easier correlation to make, with regard to your results this quarter. I would imagine that weakness should pervade or at least the headwinds should pervade in that side moving forward, as well.
Richard A. Meeusen
I think that depends upon the economy, but if we continue to have an economic slowdown in the industrial side of the business, in the industrial markets, that will impact our business. Now, the exception to that is [valve].
Our valve are – we have seen increased sales in valves. Our valve business is still strong. A lot of our valves are sold into the petrochemical industry, and that's where we're seeing a lot of strength.
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