Lower 2nd Q results caused by margin compression to 11% gross vs. normal 14% caused by commodity voltaility plus competive landscape. While it is early days 3rd Q seems to be normalizing. No headwinds (yet) from pending recession ? , higher interest rates, slowing housing market . Hixon acquisition is working well. My summary of C.C. . Company will continue to reduce inventories for next 10-12 weeks before seasonal ramp up in November. No discussion re dividends , buy backs etc.