David Rayburn Generating Quotations

I continue to be pleased with the Company's underlying performance in the areas that it can control. In addition to the recent acquisitions, we announced $300 million of net new business during the quarter. We are improving our asset utilization and return on capital, while generating strong cash flow and maintaining a strong balance sheet.

While we were able to continue generating revenue growth, this was offset by ongoing weakness in the Electronics business and lower automotive build rates. Additionally, earnings were impacted by a strengthening in the U.S. dollar, employee benefit expenses, rising raw material costs and the impact of the cash repatriation from Europe.