Good day, everyone and welcome to American Vanguard's Q3 2008 Financial Results Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participants are currently in a listen-only mode. I will now turn the call over to Mr. Bill Kuser, Director of Investor Relations. Please go ahead, Mr. Kuser.

Thank you very much, Rachel. Welcome everyone to American Vanguard's third quarter and nine-month earnings review. Our speakers today will be Mr. Eric Wintemute, President and CEO of American Vanguard; Mr. David Johnson, the company's Chief Financial Officer. Before beginning, let's take a moment for our usual cautionary reminder. In today's call the company may discuss forward-looking information. Such information and statements are based on estimates and assumptions by the Company's management and are subject to various risks and uncertainties that may cause actual results to differ from the management's current expectations. Such factors can include weather conditions, changes in regulatory policy, competitive pressures and various other risks as detailed in the company's SEC reports and filings. All forward-looking statements represent the Company's best judgment as of the date of this call and such information will not necessarily be updated by the Company. With that said, we will turn the call over to Eric.

Thank you, Bill. Good afternoon to the east coast and good morning to everyone else. Thank you for joining us today. We are here to discuss American Vanguard's 2008 third quarter performance. We will cover financial matters and will also highlight several key points. First, that this quarter's improved results again validate the balance in our business model between our mainstream crop business and new products additions, our international sales and expansion of our non-crop specialty items. Second, what we are doing to maximize use of our manufacturing facilities, maintain our profit margins through cost savings and pricing. And third what we are doing to successfully compete in a changing marketplace. There is a Chinese proverb "May You Live in Interesting Times". While the third quarter of 2008 will certainly go down in history as interesting, but at American Vanguard, we believe that our third quarter results reflected our business plans and operations can withstand the test of fire. We endeavor to establish a business model that reflects broad-based stability while maintaining and even boosting steady performance in our main agricultural product lines. We concurrently sought to increase international sales, development of new product sales and development of our line of non-crop applications. Over the last several years, our international sales increased from roughly 7% of American Vanguard's revenues to 15% for the full year 2007. Although we do not expressly breakout international sales on a quarterly basis, this year's performance has reflected a 35% improvement over last year's third quarter. Our international team of sales and marketing is doing an excellent job in Mexico the vegetable crops with our Metam Sodium fumigants, in Asia, the vegetable and corn markets with our insecticides Thimet and Counter, and in Canada, with our turf products Terraclor and Turfcide. We are continuing to…

Thank you, Eric. Good morning and good afternoon to everyone. For the quarter ended September 30, 2008 our sales are up 19%. Eric, has already briefed you on the details, but I'll add a couple of points. Sales on our new product lines are performing slightly better than expected at approximately 3.3 million for the quarter, accounting for 30% of the sales increase. Corn is always a key issue for the company and during the quarter we had two different dynamics. Our corn soil insecticides performed at the expected level in the quarter, marginally better than last year. Our impact product had lower sales than last year as customers managed their inventory levels. In fact, our field information, says that pounds on the ground have improved. We are anticipating a reasonable final quarter on this important product. Raw material price pressures continue to be a major issue for the company. As previously reported, price pressure has been significant on petroleum, sulfur and phosphorus-based raws. We have worked with these issues in a number of ways including, long-term purchase agreements with key suppliers, decisions to purchase ahead of expected price increases, accepting inventory pressures and offsets, making selective product line selling price increases. Overhead manufacturing costs have increased driven by three factors; labor costs impacted by inflation, various other factory costs impacted by inflation, capital spending or one-time costs. And furthermore the acquisition of two additional manufacturing sites when compared to 2007. Overhead costs recovery performance is a major focus for company management. The business has previously reported that we operate with some spare capacity, which is inevitable when the business is growing and expanding its manufacturing footprint. We are making progress in bringing in-house the manufacture of our own products now more than 60%. And we are working on a…

Thank you, David. Earlier, I discussed how we have embraced opportunities. Now, I would like to discuss our manufacturing strategy. This year, and particularly this last quarter, I think the problem with using foreign manufacturing sources come to a head. Quality control issues which have been seen in contaminated baby formula, environmental compliance issues and worker safety issues; and of course the logistical issues and burning cost to transportation and fuel, have drawn focus on the appeal of our North American manufacturing capabilities. A number of our peers in agricultural chemicals have announced additional investment in North American production, perhaps reversing a trend, towards dependency on foreign manufacture. And many have approached existing manufacturers like American Vanguard for contract manufacturing arrangements. A Los Angeles Times article earlier this week stated, even before the global financial crisis, factory owners in China were straining under soaring labor and raw material cost; and appreciating Chinese currency; and tougher legal, tax and environmental requirements. Government statistics show that 67,000 factories of various sizes were shut down in China in the first half of 2008. And by years end more than 100,000 plants will have be closed. At American Vanguard, we think this validates our commitment to our North American manufacturing facilities and reflects both a prudent strategy and ongoing strength. Modest capital investment has been required to acquire and maintain our four plant systems. The capabilities of our operations in Southern California, Alabama, Missouri and Idaho are extremely valuable to this company and our industry. We intend to maximize the utilization of these assets to the fullest. We intend to continue to improve operating efficiency and fixed cost overhead absorption, by increasing internal production of some of our own products, and by performing contract manufacturing for others. Escalating commodity raw material prices, rising utility…

(Operator instructions). Our first question comes from Salomon Kamalodine with B. Riley & Company.

Sal, are you there? Salomon Kamalodine - B. Riley & Co.: Yes, can you hear me?

Yes, we can hear now. Salomon Kamalodine - B. Riley & Co.mpany: Okay. My first question is on Dibrom wondering if you could maybe give us a sense of the incremental opportunity that's associated with the Texan market.

Texas, there were really good four counties that had used Dibrom in the past and Texas was not in a position, I guess, they're not done a whole lot for nuisance type mosquitoes. This last round that came in I think based upon what a performance that Dibrom had done in Katrina, really opened up, FEMA came in and took all of the government Air Force planes converted them and started fairly masters spraying in fact that was probably the greatest area of spray in the season. Quantifying that which I know which you want to get to and I don't know that we can other than clearly Dibrom was called upon to treat what was expected to could have been a disaster situation and passed with flying colors. So I think some of the traditional mosquito personnel or responsible parties in Texas probably look at Dibrom in a more favorable way. It certainly have the large mosquito population that they deal with each year in Texas and our people that are on the ground they think we've expanded in Texas for coming years that in a way that all the sales efforts that we put in just haven't seem to grow as fast as we want to. So, you know with the significant portion of our Dibrom this year obviously its weather related and Florida and Louisiana have always been strong supporters of Dibrom and use the product regularly. I think we'll see Texas step up to a greater degree going forward. Salomon Kamalodine - B. Riley & Co.: Okay. That's helpful. Thanks. Moving on to the comments surrounding higher input costs as you obviously pointed out those raw-material cost come down significantly. I'm wondering if you could give us a sense for what that would mean for your margins if current prices were to stick at current levels? And then, also if you could discuss whether some of the price increases that you put in place during the quarter, to expect those to be able to stick or if you may have to take some of those back particularly in the fumigant business?

Well, in the fumigant business, we actually have moved prices up this month. In addition, we do certainly potassium which is in our K-Pam continues to be at a -- at high level. The sulfur has taken a turn. We haven't seen that reflect in our raw materials, but we do think that we'll see some relief there. A big part of Metam is freight and I'd certainly hope that the oil price and gasoline prices we're seeing reduction will reflect in our transportation cost in this quarter in this fourth quarter. Because I don't feel that, I mean we've been playing catch-up all along here trying to get ahead of the curve. And if we do see some softening, then we could have the position that we were hoping to get to, a little over a year ago. Salomon Kamalodine - B. Riley & Co.: Okay. And then finally, on the non-crop side of the business, how weakened this pest control business be? And how much contribution would you expect as you sort of fill the channel with this new EDDP product?

That's a very good question. We again offered this in third quarter. We saw a great deal of activity, a variety of orders that I'd say are not significant in contribution at there size, but what I'd consider trial orders. I think momentum will build for this. I think as people become more comfortable I mean it's an ideal situation. We produced a video, which I think we are going to post shortly up on our website, which you can see in two weeks I guess I've been told. That will actually -- obviously we distribute through the pest control and which you have a chance kind of see what are the key points for pest control operators as far as saving number of trips, return trips, fuel efficiency and efficacy they can get by having kind of a lead behind that can protect for up to four months, therefore increasing their profitability. So, this will be a practice, which again the early interest is very strong and I think once they actually start using it and see how this becomes a part of their profitability going forward it is the base that we think will grow significantly. So, where is that, our pest strip business has been what I'd consider relatively modest in the 5 million range over the last few years primarily because of the uncertainty with regulatory. Now with this offer expanding -- it's been predominantly for the retail market, this will now be for professional markets and I think synergistically they will feed off each other and we should have some stronger – there is no doubt that this very efficacious, safe, effective way to deal with pest. Salomon Kamalodine - B. Riley & Co.: Okay. Thank you.

Your next question comes from the line of Jay Harris with Goldsmith & Harris. Jay Harris - Goldsmith & Harris: How much were domestic revenues up in the quarter?

Domestic revenues relative if so international was 35% some 65% of the increased revenues and the increased revenues were--

11 million Goldsmith & Harris: 11 million

Pardon me, what do we have 11.

11.

Yes, we were up 3.3 and we are up to 11 million. Jay Harris - Goldsmith & Harris: Yes, alright.

Yes, 8 million Jay Harris - Goldsmith & Harris: One-third, two- thirds.

Yes. Jay Harris - Goldsmith & Harris: Alright, and where do you think you are likely to end up in terms of debt levels at the end of the year?

Well, as I said in the comments on not being able to predict what customers would do with regard to cash in the last quarter of 2008, it's a little bit difficult to predict at this point in time. We are running some numbers at the moment to try and look at that, but that's a –

So the -- in the third quarter, was the capital spending that prevented you from generating free cash. Goldsmith & Harris: So the -- in the third quarter, was the capital spending that prevented you from generating free cash.

Yes.

Does that continue into the fourth quarter? Goldsmith & Harris: Does that continue into the fourth quarter?

The bulk of the capital spending this year, we believe is done but there is some residual spend on our excess plant related to the new facility we're putting in place there. So there will be some trail of spend through that.

And would you just explain to me what you -- what you were just saying in terms of the customer's use of cash? Goldsmith & Harris: And would you just explain to me what you -- what you were just saying in terms of the customer's use of cash?

Yes, Jay, last year, I think we talked about this on previous calls. We offered a program essentially to if farmers or just real customers, distributors wanted to pay early for products that they had taken in the fourth quarter were normally their returns involved that we would offer them cash discount. And last year, I am going to say we collected somewhere in the vicinity of $20 million under this. This has been a fairly common practice as farmers try to pay for inputs in the calendar year. And we just hadn't participated in that market before and we did last year and it resulted in a lower end of our receivables. Well, the same program is out this year. We had some distributors come back and say, they are tired on participating, we have had others that say, they are going to hold their cash until January. It doesn't make a whole lot of difference to us. It's really kind of difference as far as we are –

It's just a couple of weeks difference, I guess. But last year, I think, during this same conference call you indicated that early order cash purchase program had kicked in September. So, have you seen that already or is it occurring later this year? Goldsmith & Harris: It's just a couple of weeks difference, I guess. But last year, I think, during this same conference call you indicated that early order cash purchase program had kicked in September. So, have you seen that already or is it occurring later this year?

Well, our primary focus is for fourth quarter this year. Last year, we positioned some impact in the second -- I mean in third quarter, that we did not offer this year.

Can you comment on how much growth you have seen in the use of impact this year, this last year? Goldsmith & Harris: Can you comment on how much growth you have seen in the use of impact this year, this last year?

I think we were up about, "Pounds on the ground", we think we are up about 15% year-over-year.

And, are there -- programs that you can count on, that are likely to produce something like that or better next year? Goldsmith & Harris: And, are there -- programs that you can count on, that are likely to produce something like that or better next year?

Well, we believe the product is superior to other products in the marketplace, as you know we did promote heavily in advertising. We do think some of the products that maybe did not performance as well, but we're promised that we make some of those. We saw Impact being used to basically rescue failures in other products. So, yes, we certainly have an intent to grow that market this year.

And coming back to cash management, you anticipate a reduction in -- a significant reduction in inventory levels in the fourth quarter versus current? Goldsmith & Harris: And coming back to cash management, you anticipate a reduction in -- a significant reduction in inventory levels in the fourth quarter versus current?

Moving inventory levels is of course quite challenging and we are working at as hard as we can, but I haven't got a prediction of what its going to be at the end of the year. I know you'd like one, but I haven't got that.

You have an exhaustive indication of my wish list? Goldsmith & Harris: You have an exhaustive indication of my wish list?

I think that was an easy one to predict Jay.

We'll certainly –

I'd certainly, I would like it to be lower.

We will strive to make your wish list happy.

Alright, fair enough. Goldsmith & Harris: Alright, fair enough.

Your next question comes from the line of Mark Gulley with Soleil Securities.

Good morning, guys.

Good morning.

I had a couple of questions. One, Eric as you look back on your corn strategy, this past year it was between the corn soil insecticide and herbicide. How would you rate the success of your overall average corn? You think that you can take it to the next level next year or they are going to be superiors there?

Well, our -- the real test will be as we get into December and we start seeing the results of all the university tests and tests that we have out and I think if we see the results that we saw last year. We have done on such a broader base this year that I think we will get enough recognition for this approach and strategy, we should see significant increase. If we see mixed results, then we'll probably see kind of similar or maybe slightly upfront from where we are this year. But we are tracking with new SmartBox systems ahead of where we were last year, and last year was our second biggest year. So, we have people that are signing up three year commitments and the work that we've seen more refuge systems last year than we are seeing in previous year. So far the new sales that we've is very little annoy of refuge in most people are going full systems. So I think its catching momentum, I think the second year of university trails showing similar -- will get the recognition that we would like to see. As you know, I mean, it’s difficult as us as AMVAC to swing the needle in a huge way by ourselves. But we do have -- last year Syngenta also came out with their results, which were similar to our results and with their product force and which we also sell in SmartBox. So there, I mean, this is definitely something that people are aware of. How big that market is? Where the infestations are, I think that’s going to determine where our growth will be in the future.

What are the results available, maybe its tuff to answer this question, but is there a threshold corn price in your mind where these results are just pretty compelling and the low (inaudible) is just modestly interesting?

Well, if the 12 bushels that we saw that were -- that was returned, then I mean, that's certainly a number regardless, I guess of where -- where corn prices wind up, because we are talking about an investment of $10 to $18 an acre and if you get 12 bush -- 12 bushels additional, that would be a return on your investment. I know what you thoughts are. I think corn prices will move back up for this upcoming season. But I don't know what your thoughts are on that.

That was another question. I think in some crop input areas, farmers are going to sit on their hands this fall, given uncertainty, given the uncertainty of the corn prices, given a lot of the things, I think there's considerable hands in wait. Do you expect the same sort of thing with respect to your crop protection chemicals or do you think that you're selling to a different type of a buyer for a different reason or are you going to be able to maybe dodge that.

We're not seeing back off yet. I do know that given the volatility of fertilizer, I think people are real nervous about committing to today's dollar-- today's prices for delivery in the future. As far as our side, we haven't -- we haven't really seen a softness occur. And as I said, our indications are through SmartBox systems that are being ordered and the programs that we've got in place for fourth quarter, that people seem to be responding well too. So, Yes, I recognize that there is credit tightness as it exists in the farm community. But it hasn't, as I see taken a dramatic effect. I think the demand for corn, ethanol is still strong. And I just -- I don't see that this is that the bottom is going to move out of corn.

Finally, I want to wrap with pricing strategic for the next year. One of your larger competitors have signaled that they are going to get lot more aggressive on pricing next year, which still means of maybe only 6%, 7% price increases. Do you think you're going to have the ability to move prices up much more aggressively next year, irrespective of raw material movements, to get your fair share and perhaps to come under the radar of one of your large global competitors?

Well, obviously -- the business, it's our mandate to maximize our earnings. We have to look at in some areas where we do increase prices and we lower our sales by unit, what that will reflect. I think, right now, going into -- I mean, certainly for last year inputs from chemicals were relatively minor increase, compared to fertilizer increases and seed increase, and fuel. So, I do think we have moved prices forward in some of our products in ways that we have not been able to do in the past. It is -- at some point we would expect to see margins increase. We’ll react to what occurs in the marketplace. If we have increased our prices for the 2009 year, those programs are out and so far we have not seen resistance.

Fair. I'll get back in queue.

Your next question comes from the line of Matt Hagerty with Pennant Capital.

Hi, thanks for taking my question, actually I have three. The first, one could you go through the -- or respond for the non-crop increase year-on-year?

Okay. It's in the Q and I'm just on that. David? You did certainly know -- I think, we intent to release our Q on Friday.

Yes. That's right.

Yes, I was just --

And so and in the three months ended December, sorry September 2008, our non-crop sales were $16 million and in the same period of the prior year, they were $7 million. And on the year-to-date basis the nine-month sales were $36.4 million and the prior year it’s $22.2 million.

Thank you. And then, during your commentary you spoke of, I think its $3.3 million increase in what, I think you called new products. I just want to clarify, does that mean acquire products or…

We have products where we did not up sales of the similar products in the prior comparable period.

So --

So they're newly acquired products, yes.

Well, I just -- as I read the press release here and the new AMVAC offerings such as Terraclor and Orthene and -- are those are acquired with this --

And we’ve acquired -- we didn’t have Orthene or the Terraclor in Q3 of '07. We acquired them at the end of '07

Okay. And then finally, you mentioned a reversal of legal cost, I think that impacted your operating expenses for the quarter. Can you quantify that a little?

We had insurance company that was insolvent and we reached a settlement and they sent us a check. It is in the $0.5 million range.

In the $0.5 million range? Is that right sir?

Yes.

Yes.

Okay. Thank you. That's all I have.

Your next question comes from the line of Salomon Kamalodine with B. Riley & Co. Salomon Kamalodine - B. Riley & Co.: Yes, just a couple of follow-ups. I am trying to get some directional guidance on what your P&L may look like in the fourth quarter. Can you just discuss the seasonality in each of your main business line? So I can get a sense for what next quarter may look like relative to this September -- this September quarter I mean?

Well, if you look historically, our fourth quarter is our strongest quarter and I don’t think that we are sitting here today, thinking that will be any different. As far as seasonality, you know there are products that are purchased for the upcoming season. And traditionally, our fourth quarter is also fairly a strong for our soil fumigant, as people are applying right now, in getting ready for -- before the winter hits, so that they’re ready to plant come spring time. Salomon Kamalodine - B. Riley & Co.: Okay. Would you expect the sequential increase that you experienced last year in the December quarter to be a good indicator of what we might expect this year around?

I don't know the answer to that question. So I don’t -- I'd hate to give you recollection. There again are a lot of variabilities that occur. And with still a month and a half to go, I think we're unable to predict what our revenue and therefore earnings would be in the quarter. Salomon Kamalodine - B. Riley & Co.: Okay. Then just finally, from your perspective, are you seeing any indications that your distributors -- your main distributors maybe impacted by what's going on with the tighter credit conditions?

I know one of our peers, well one of our larger, has collected more cash in advance than ever before. I do know that our customers have said that they want to kind of hang on to their cash until after the first of the year. Again with that, others that have said, they are planning and have been participating in our cash position. I don’t have -- I think everybody is still kind of questioning where things will breakout, as far as, how well the growers -- the state of growers -- can't wait until more of the last minute. Our demand is still strong. So, I think this could become the question I referred to you, plant corn, you plant soybeans, you plant wheat, some of the same questions we had this year. But the reserves are still at very low positions and it's not like where our populations are decreasing. So to me it's a trend that will continue to grow. Salomon Kamalodine - B. Riley & Co.: Okay, thanks.

Your next question comes from the line of Norman Hayman [ph] with Technological Investments [ph].

Yes. Two questions. One, I think it is valuable to have those plans domestically and as you say there is unused capacity, I wonder, if you do talk manufacturing for others, whether you can still have plenty of them fairly (inaudible) in the new plant, and if these contracts are shorter-term, can you turn them off and does it really mean that much for you in terms of the operating margins, manufacturing margins? That's the first question.

Okay. So the question is if we were to invest in capital to manufacture for a third party, Is your question, would we be doing this on a one-year basis or three years, or five years and would we be able to recover the capital we put in to the plants?

Well, no. The question is that you kind of indicated that the people are approaching you.

Well, no. The question is that you kind of indicated that the people are approaching you.

Right.

For you to do some of their manufacturing. Am I to assume that, now meaning in the next year or two?

For you to do some of their manufacturing. Am I to assume that, now meaning in the next year or two?

Right.

So therefore you're going to be using not some of your existing capacity and so does this become a temporary source of operating margin leverage or is it something that can become permanent? Because, I don’t know what the margins in that kind of business would be?

So therefore you're going to be using not some of your existing capacity and so does this become a temporary source of operating margin leverage or is it something that can become permanent? Because, I don’t know what the margins in that kind of business would be?

Well, they are typically lower than what are our margins are that we have, but so… Temporarily in the next three to five years that's something we certainly will take. I think there is a philosophical shift from being a 100% dependent on Asia to doing some hedge manufacturing and having long-term agreements in different parts of the world. There were a number of disappointments that occurred this year due to the volatility that occurred in Asia, and I think people are saying you know what, as part of long-term strategy we need to have a footprint in another location. So, I would – of course from our own personal philosophy, we believe manufacturing here makes good sound sense for American Vanguard going forward. The difference now is that we're seeing – I've been stating this to our peers for quite some time, it just seems that now, in this last year they've stepped up and said okay, we think you're right.

Okay. So this is though a program think that exist for – some extended period of time, which will allow you to put plan for your own capital expenditures, so it's not just a modest one or two year fix, it's a program that you consider something, somewhat strategic?

Okay. So this is though a program think that exist for – some extended period of time, which will allow you to put plan for your own capital expenditures, so it's not just a modest one or two year fix, it's a program that you consider something, somewhat strategic?

Yes, that's correct, that is correct.

Okay. And the second question, maybe I didn’t fully understand the implications of the Monsanto interface with you. That last year, when you talked about this, you kind of alluded to the generalization that they have an army of sales people out there and its extended application, on the main portion of the field that they would be out there "selling for you" and I know that’s not exactly true, because it’s a program, that didn’t had have any effect on what happened this year?

Okay. And the second question, maybe I didn’t fully understand the implications of the Monsanto interface with you. That last year, when you talked about this, you kind of alluded to the generalization that they have an army of sales people out there and its extended application, on the main portion of the field that they would be out there "selling for you" and I know that’s not exactly true, because it’s a program, that didn’t had have any effect on what happened this year?

I'm not 100% clear on what you we're alluding to there. I don’t that we said that Monsanto is going to be selling for us. But we did --

Then probably it's not a direct sale, but I thought that they were going to advertise the benefit of using our materials with theirs.

Then probably it's not a direct sale, but I thought that they were going to advertise the benefit of using our materials with theirs.

Right. And they did promote from a stewardships standpoint, on the refuge acre they put out in commercials that had testimonials from our SmartBox users, utilizing some of our soil insecticides through SmartBox and how this made good sense. It was an easiest way to comply with refuge and I've great performance. Those efforts as indicated will continue. They got a little late to start last year and that was probably in the February, March standpoint, I understand that they are going to be, during similar run this year, before the end of the year and into the 2009 season. An additional piece was to get impact added to the Roundup labels that occurred at the end of April in this year, which was just before the season to start application. Obviously our advertising will continue to promote that factor that but this is a product that is on both PowerMax and WeatherMax Roundup labels.

So, in the sense, you're saying there is this probably -- I don’t know if it seemed immeasurable, but probably a modest impact, partly because of late starts and test results and therefore next year you probably would see some measurable result or hopeful or expect some sort of measurable results from that effort.

So, in the sense, you're saying there is this probably -- I don’t know if it seemed immeasurable, but probably a modest impact, partly because of late starts and test results and therefore next year you probably would see some measurable result or hopeful or expect some sort of measurable results from that effort.

Yes, again also and not as far as Monsanto is concerned, but certainly the overall advisor community have been, university and USDA and corn growers as a whole looking at the results of test, which we did on a much more expanded level this year to see how well this utilizing our insecticides through SmartBox over the top of denigrate enhances yields, and I think in some areas we're going to see some strong results that will result in a practice that would be just at the beginning.

Thank you very much.

Thank you very much.

Your next question comes from the line of Mark Gulley with Soleil Securities.

There is couple of follow-ups, if I may. First of all with respect to what you just talked about, any idea when those results should be -- become public, become published and we're talking about results that you expect to see both on Impact and Counter?

What impact is -- any studies that we've done with those we've already concluded and we have the results and we're very pleased. How we stepped up against other chemistries and the results for Impact. So as far as the corn soil insecticides that a yield position, we still have a lot of corn that has not been yield and once that does get harvested as kind of get written up, we are late in some of the harvest, so I'm hoping that by middle of December, we'll have a pretty good understanding and put those results look like. Given that universities, I think our people are saying they should have all the information by the middle of December. Last year, it was and we had some results by then, but we didn’t get all the results until almost end of February. So, we’ve had some commitment from the universities that they will get the result earlier this year, and that’s our wish.

I know that there is a big convention that held I guess some time in the October timeframe. What was the mood of that convention as far you are concerned regarding the outlook for crop protection chemicals and as you alluded to in your press release, what is the outlook for your increased ability to collaborate with other industry participants?

I know at our Trade Biz [ph] we had a great deal of activity and excitement and there was a lot of awareness of what we are trying to accomplish. We had a full 36 row folded up system there and then we had a brand piece of genetically – genetic equipment and genetic type equipment. And then we had a tractor that I think was 7 years or 8 years old as SmartBox on it to and so we create a lot of awareness and we did get a fair amount of SmartBox new orders generated out of it. Generally the farmers seem optimistic obviously corn prices have come down, but these guys have made out pretty well in the last couple of years. So, I think, I think corn farmers and grain farmers the whole are in a pretty good position.

Your next question comes from the line of Jay Harris with Goldsmith & Harris. Jay Harris - Goldsmith & Harris: My question has been answered. Thanks.

Your next question comes from the line of Jim Bartlett with Bartlett Investors.

Yes, you mentioned the impact is up 15%, Could you give us an idea of what the market share was and what kind of market growth that you saw during the same period?

Jim, I’m sorry. You’re breaking up kind of every other word. I didn't hear you; you asked the question on market share. I don't know what product or crop you're talking about?

Yes, for impact.

For impact, okay, what our market share was at impact?

And what's the growth for the category in the past year.

I don't know that I have -- I don't know we had data that shows what our -- what our market share was. I do know that we gained -- we gained some ground on Callisto. But I didn't seem that (inaudible) which was very new launch, did reasonably well and this maybe a tab off before we were and I think status did fairly well. But I don't know that I have the numbers on the market share. We still -- I mean I will just say that, we have a long way to go in my estimation.

And could you give some quantification of the price reflected price increase you've done this year both up to a range of percentages and then the total impact on revenue?

Well, price increases in some cases obviously we weren't able to put through increases. We haven't up to maybe higher the -- even a percent in a couple of cases. Overall, I don't know if we've measured what percent of our revenue in so far this year is reflective in price increases. But I would say that it's probably more than $10 million of our revenue is a reflection of price increases.

(Operator instructions). There are no further questions. I will now turn the conference back to management.

Okay. Well, I would like to thank you, everyone. We've spent a nice hour together and we look forward to updating you with further results, activities as we go forward. Thank you very much and have a great afternoon.

Ladies and gentlemen, this concludes our conference for today. Thank you all for participating and have a nice day. All parties may now disconnect.