Question-and-Answer Session
Operator
(Operator Instructions). Our first question comes from Ted Jackson at Cantor Fitzgerald.
Edward Jackson - Cantor Fitzgerald
Hey guys, congrats on making the guidance.
A.J. Wood
Thanks, Ed.
Edward Jackson - Cantor Fitzgerald
A few model questions and then some larger ones. The first one is given the balance sheet FX issues, would you expect that line item on you're income statement -- other income line item on your income statement to ever flip positive?
A.J. Wood
Yes, we would Ted. And historically, there have been a few cases wherein fact it has been positive. And just to give a little bit more color even though you weren't asking that question, we do have accounts receivable in ruble in Russia and in Brazil and those currencies both declined against the U.S dollar in Q1, and that's where the primary source of the FX movement happened.
Edward Jackson - Cantor Fitzgerald
Do you have any suggestions to how we should look at that for the second quarter?
A.J. Wood
Yeah we actually, one, we don't plan on it having happened -- having such as precipitous decline in the ruble in particular in Q2, of course we didn't plan on in Q1 either. These things will happen from time to time and we do look at hedging when necessary. But this was quite a drop in Q1 as you might recollect.
Edward Jackson - Cantor Fitzgerald
Okay. Then could you tell me what CapEx was in the quarter and the outlook for the remainder of the year?
A.J. Wood
Yeah, so for the quarter, we spent a little over $400,000 in CapEx and that's a little higher than our normal run rate. We will ordinarily run about 200 to $300,000 per quarter. So I would expect that to be the remainder for each of the remaining quarters.
Edward Jackson - Cantor Fitzgerald
Okay. And then same question with depreciation. Could you tell me what depreciation was in the quarter?
A.J. Wood
Sure. Depreciation was a little over $700,000 for the quarter and we will expect that to be roughly consistent for every quarter for the remaining quarters.
Edward Jackson - Cantor Fitzgerald
And then moving over to the balance sheet. You've had your receivables come down, you've had your inventory come down some in this quarter, what's the outlook for that in the next quarter? Or both those line of that-- do you see continued improvements there or do you see --
- To read the full transcript on Seeking Alpha, click here »
