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Most likely it stands for "quarter 2, calendar year '08"--meaning the second quarter of the current year (calendar year, not fiscal year) 2008. "Fiscal year" is typically abbreviated "FY."
In business, a year is often divided into quarters, three months to a quarter (3 x 4 = 12), for record-keeping purposes. The second quarter would be the second three-month interval, or the months of April through June.
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