KALU
#I would say the entire change that you see in price per pound, fourth quarter to first quarter, almost all of it would've been mix related to the long products change.
No.
I wouldn't go there, but most of the new product launches that we have this year are bumper programs.
So, as the car companies replace one platform with a new platform, we'll typically be involved there.
In some of those the old platforms they are replacing may have been steel bumpers and now they are moving over to aluminum bumpers.
But it's just the general migration that we've seen over the past several years of growth in bumpers.
Although the really rapid growth here is for bumpers were probably five years ago, and that growth has tapered off some, but continues, and we expect it to continue, at a reasonable growth rate.
But not double-digit growth rate like we were seeing a few years ago.
I'm sorry, which was that.
Value added revenue quarterly.
And seasonality (multiple speakers).
Oh, quarterly value added revenue.
Again, that's a question I'm glad you asked.
The first quarter in any year is almost like the fourth quarter; it's hard to tell what's going to happen in the first quarter.
Our typical pattern is the first quarter is strong, the second quarter is stronger, then we taper off in the third quarter and the fourth quarter is the worst quarter.
However, what happens in the fourth quarter ---+ and coincidentally, what happens in the first quarter ---+ is often a function of what customers are doing with their inventories at the end of the year.
So, we got hit pretty hard in the aerospace long products in the fourth quarter, as we said.
It's rebounded here in the first quarter.
What we can measure, however, is when we look at our total first quarter, how much of the strong value added revenue that we had was a function of other customer activities at year end that might've been under our radar screen because we were so preoccupied with what was going on in long products.
So, this year we don't expect to see a significant increase like we normally do in the second quarter compared to the first quarter, but we still expect the typical longer-term seasonal pattern, which is a strong first half and the weaker second half.
Sure.
During the quarter I believe the number is about 83,000 shares that we purchased.
It was about $6.4 million that we spent during the quarter.
And we have a lot of room still on the existing plan.
I think it's $117 million as of the end of the quarter, I believe that's authorized, yet to be purchased ---+ for purchase by the Board.
Okay.
Well, thanks, everyone, for joining us on the call.
We've got a nice start to the year and we look forward to updating you again in the second quarter call in July.
Thank you.
