Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Deane Dray – Friedman, Billings, Ramsey & Co., LLC.
Deane Dray – Friedman, Billings, Ramsey & Co., LLC.
A couple of questions, first would be just give us a sense of how the month of September tracked versus your earlier comments in the quarter that July and August had done well or just above expectations? Then if you could, you don’t often comment about backlog and I’m interested to hear more about that $100 million in backlog. Would that be contributing to core revenues or just what’s the mix within that backlog?
H. Lawrence Culp, Jr.
Dean, I think as we look at September, it more or less played out as we had anticipated and certainly had hoped. We really went I think wire-to-wire through the quarter with good in flow. We certainly saw I think some of the destocking early in the quarter but that was a firm dynamic throughout. I think we kept waiting for Europe to show itself in September a little stronger in line with what we were certainly seeing in the US and certainly in China and India and that really didn’t materialize but I don’t think we were expecting that. I think all-in-all we were pretty pleased with the way the quarter started and certainly with the way it ended.
With respect to the backlog clearly we don’t talk about that a lot but certainly there’s a lot of interest out there with what’s happening sequentially with the current book of business so we threw that out there just to provide a little bit more color. Certainly, building backlog as we did during the quarter would suggest that our order books were up year-over-year more strongly than the core revenue number that we printed and we’re certainly encouraged by that particularly given that we built some backlog in some businesses that have really felt the full brunt of the downturn like test and measurement. All-in-all I think it’s one data point among several that suggests we do have a stabilizing economy in hand and the business is by in large pretty well in it.
Deane Dray – Friedman, Billings, Ramsey & Co., LLC.
Larry, just to clarify, within the composition of that backlog will that all flow through core revenues or is there a mix in there?
Daniel L. Comas
That will all come in the next couple of quarters.
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