You are so right. Last quarter was the second highest revenue quarter in the compnay's history. It was the highest EPS in the company's history. Guidance and forecasts are not suggesting in anyway a huge drop off in business. They are only suggesting some turbulence due to economic/utility/govt spending uncertainty. These are the same communications that other major corproations have been saying also. Benefits from the reorg have not been communicated as yet. Itron's misstep has not been communicating a clear strategy to address slow growth in NA. Hopefully the new CEO will provide clarity on this issue.