As we exited the first quarter, we saw strength throughout the vast majority of our markets. We had a healthy backlog and solid order rates throughout the portfolio. Within a few weeks of delivering our guidance update in April, we saw certain markets deteriorate.Order rates softened first in Europe and then in China, which combined to make up about one-third of our sales. Our second quarter guidance did not anticipate the magnitude of the deceleration.
IDEX's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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