Here is the Q: and A: from the same confrence call
Richard Galterio – VP, Public and Investor Relations
Andrew Wang – EVP and CFO
Allow me now to thank you again for joining us, and we can begin the formal Q&A.
Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from the line of Mitch Paleo [ph], who is a private investor. Please proceed with your question.
Mitch Paleo
Hi, guys. Obviously with half the fourth quarter being completed, I see that you are suggesting that you are going to be doing a minimum of $42 million in sales, and $6.4 million in net income. Pretty substantial, and being halfway through the quarter, you must have a really good idea that you are going to probably hit that. Can you expand on that a little bit, and can you talk about how you are going to complete that both lofty goals?
Richard Galterio
Sure. If you take a look at, you know, first of all, the growth trajectory that you have seen in magnesium, as well as in our other business segments, we, on a sequential basis, increased revenue from the second quarter into the third quarter by about 40%. Should that trend continue, coupled with our consulting operations, as we have said in the past, being transactionally based, in prior years, if you go back and you look at 2007 and 2008, when transactions take place with consulting clients, especially the new consulting clients, they are in a substantial pump-up in revenues and we wouldn't be talking about, you know, $300,000 or $400,000 or $700,000 in revenue.
We could be talking about a great deal more than that, but we believe that if we continue along the trajectory with our magnesium and our basic materials operations, and as we said before, some of our trading operations, which other than from now, really haven't produced any tangible amount of revenue, that we have a lot to start aligning into the fourth quarter that should contribute to revenue in addition to the growth that we would be seeing intrinsically in the segments that we have already. So there is a number of different contributors that haven't been contributing as greatly so far in the year that should kick into the fourth quarter to help us reach that goal.
Mitch Paleo
Okay. I guess I just realized that there is only a month and a half left to the fourth quarter. So you guys must have a really strong feeling to reiterate this guidance and confirm it here are in this call.
Richard Galterio
You know, there are some timing issues, you know, one transaction is full and when certain deliveries have been made, but, you know, at this point in time, we do feel that we are capable of reaching that goal.
Mitch Paleo
Thank you.
Operator
(Operator Instructions) There are no further questions in the queue at this time. I would like to hand the call back over to management.
Richard Galterio
Once again, we would like to thank you for attending this conference call, and as always, we will provide information as it becomes available to us, and we look forward to seeing you several months from now at our year-end call coming up probably sometime in December. Thank you and that will conclude our call.
Operator
Ladies and gentlemen, this does conclude today's teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.
