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De reports anaheim baseball Gasperis continued, tells "We are also pleased that substantially all of ourkey trading partners have supported the supply chain throughout this difficultperiod and we look forward to even stronger collaboration as our business beginsoperating at higher utilization levels. We are also appreciative that ourstakeholders have extended the necessary liquidity for ensuring stabilitythroughout the recapitalization process. We are actively engaged in therecapitalization process and look forward to the timely completion of thatprocess in the late third fiscal quarter of 2009 or early fourth fiscal quarterof 2009." OutlookWe expect our volumes in the third fiscal quarter of 2009 to be higher than thesecond fiscal quarter of 2009, as a result of our sales efforts, particularly inour structural tubing, A53 pipe, manufacturing and distribution businesses. Wehave already begun experiencing significant increases in toll processing duringthe first two weeks of July as automotive producers increase production in theU.S and Canada. Overall, our third fiscal quarter of 2009 is expected to resultin increased revenue, significantly lower cost of sales, and lower operatingexpenses when compared to our second fiscal quarter of 2009. Actions taken inthe first six months of fiscal 2009 have resulted in an annual reduction ofoperating expenses of approximately $15.0 million as compared to 2008.
Theadditional actions discussed above to reduce operating expenses further begancontributing an additional $15.0 million in cash savings, primarily from areduction in annual operating expenses, in May 2009 anaheim baseball tickets . We also believe that theseactions, coupled with increasing sales should return the Company to a netoperating profit rate by the end of the year . Conference Call DetailsBarzel`s conference call with investors and analysts will be held on Tuesday,July 21, 2009 at 10:00 a.m Eastern Daylight Time . The dial-in telephone numbers for the investor and analysts call are: North American Toll Free Dial-In Number: 1-866-544-4625 International Dial-In Number: 1-416-849-2726 A digital recording of the conference call will be available for replay fourhours after the call`s completion The date range for playback availability islisted below . Website: July 21, 2009 - August 31, 2009 More About Barzel Industries Inc.Headquartered in Norwood, Massachusetts, with operational hubs in Mississauga,Ontario and Montreal, Quebec, we operate a network of 15 manufacturing,processing and distribution facilities in the United States and Canada. Throughan innovative management system that includes close statistical monitoring andanalysis of our plant capabilities, we service our customers with speed, qualityand reliability.
With a long tradition of quality service, we offer a wide rangeof metal processing solutions to a variety of industries, from construction andindustrial manufacturing to transportation, infrastructure development andmining baseball tickets . Our systemic approach has enabled us to become a well-diversified,multi-process provider of value-added services . We believe we are one of onlytwo independent continuous process picklers in Canada . For additional information on Barzel, visit its website at http:// Forward-Looking StatementsThis press release and any related calls or discussions may containforward-looking statements . All statements, other than statements of historicalfacts, are forward-looking statements. The words "believe," "expect,""anticipate," "estimate," "project," "plan," "should," "intend," "may," "will,""would," "potential" and similar expressions identify forward-lookingstatements, but are not the exclusive means of doing so.
These statements are based on assumptions and assessments made by our managementin light of their experience and their perception of historical and currenttrends, current conditions, possible future developments and other factors theybelieve to be appropriate edison field anaheim . Forward-looking statements are not guarantees,representations or warranties and are subject to risks and uncertainties thatcould cause actual results, developments and business decisions to differmaterially from those contemplated by such forward-looking statements . Occurrence of such eventsor circumstances could have a material adverse effect on our business, financialcondition, results of operations or cash flows or the market price of oursecurities . All subsequent written and oral forward-looking statements by orattributable to us or persons acting on our behalf are expressly qualified intheir entirety by these factors .
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