Internationally, our results this quarter did slightly exceed our expectations for soft market conditions in Europe and Asia. International markets appear to have somewhat stabilized. You may recall that when we started our fiscal year, our projections were that the first half was going to be strong and the second half was going to be somewhat weak and it’s exactly how this is rolling out, exactly the way we see it now. We predicted these markets would be soft in our second half and they were soft, and we expect them to be soft throughout our last quarter here, pretty much in line with our original forecast that was given at the beginning of the fiscal year.

Substantially, all of our sales growth in the quarter was organic at 5.8%. Currency rather impacted us by 1.3% negative and acquisitions were very minimal at 0.2%. So you can see most of the growth was organic and the majority of that came form from North America and also aerospace.

Looking on the orders side, orders increased 2%. We did report that against tough comps while quarter ending backlog was up 5% compared with quarter end backlog a year ago. So our backlog has never been stronger as well.

Total company’s segment operating margins were a third quarter record at 15.1. Again you can remember this was our target. We have been trying to get to that 15% and finish the year strong at 15, it looks like we are heading it down that path to have another record year from segment operating margins. Of course that was driven primary by, as I indicated earlier, industrial North America margins and those were 17.3%. We have never achieved that before.

Hopefully there is more to come as we look forward on building on that record as well. Year-to-date, our operating cash flow remains strong at 10.3% of sales and exceeded $1 billion. For the quarter operating cash was $443 million or 13.1% of sales, and I might add that this is the highest amount of operating cash in any quarter since fiscal 2008. So really doing a very good job in spite of the fact that some of the regions around the world are soft, the company still performs very, very strong.

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