Worthington Industries Earnings Call Insights: Volume Contribution and Commercial Construction Market
Martin Engler – Jefferies: So I’m trying to think through the impact of TWB now consolidated within steel, any detail on a go-forward basis for modeling purposes, how we should think about the volumes, EBIT contribution and also D&A for the overall Company?
John P. McConnell – Chairman and CEO: I guess, I would point you to the 10-K, Martin, where we list out some of the annual performance measures for the JVs. TWB is listed in there with revenue and operating income, so I would use that as the basis.
Martin Engler – Jefferies: Is there any kind of base that you can give us for the volume contribution maybe on a trailing 12 months basis or prior year there?
B. Andrew Rose – VP and CFO: Off the top of my head, I don’t. We will work on that one.
Mark A. Russell – President and COO: Let us check.
B. Andrew Rose – VP and CFO: Maybe by the end of the call we can give you a number.
Martin Engler – Jefferies: Within WAVE there, what are you seeing regarding the commercial trends, is there any more of a shift towards new projects and private work as opposed to the refurbishment type work?
Mark A. Russell – President and COO: The mix of business there is pretty much unchanged and still is dominated by a remodel work – remodel and refurbish is the dominant part of our business. That’s one of the reasons we are very bullish on commercial construction recovery, because we think they will still have a good book of remodel business and then I will get the new build as well on top of that.