Michael Leach: Just to add on to that, Gerry, in my prepared remarks, I mentioned some supply chain inefficiencies within A&D. There are suppliers who are customers that are holding up release, if you will, of our products because they’re not in a position to produce that full capacity. And obviously, we’re holding off on delivery of our products and they can marry them together for a full system. So we are being impacted by that. We are excited about the programs that we previously discussed. Like I said, some of that is being held a little hostage to certain supply chain constraints within that vertical.
Gerry Sweeney: Got you. Taking a half a step back, going back to you, Dick. It’s simplified to accelerate, it sounded as though there was an opportunity, not just for cost savings, but for, we’ll say, wild share, getting a larger solution to a customer and getting some of the acquired businesses to, for lack of a better term, interact with the mothership, per se. Is that a fair assessment?
Richard Warzala: Absolutely. And again, just use examples of, in our business, one of the primary objectives, if you want to win in this business, is be first to market with a solution or to the customer with a solution. And a complex system does nothing but drag you down and delay the process of getting to the customer with the solution. So in addition to adding efficiencies, looking at increased value in the sale, and looking at more efficient solutions for the customer at a larger scale, it is shortening the time to market from the time they make contact to the time that we present a solution to them, we want to be first. We need to be first. And being first, you will increase the top line.
Gerry Sweeney: Got it. That makes sense. Absolutely. Acquisitions, right? Do you slow down acquisitions at this point? Is this sort of like, hey, we made eight acquisitions in the last couple years?
Richard Warzala: Yes.
Gerry Sweeney: Holding the…
Richard Warzala: The answer is yes. We need to do more work on making sure that everything that we’ve acquired is functioning and performing as expected. We have the most recent acquisition at SNC. We’re very excited about that. I mean, the synergies that we see already and the opportunities there to leverage. They just happened to see that PCI, our company up in Germantown, Wisconsin, and SNC and Oshkosh are very close. They’re complimentary. They’re working extremely well as a team right now, and they’re starting to leverage resources already for both organizations, which is very exciting. And I do think that the emphasis needs to be on that. Now, we’re still grooming. And if the opportunity came for something that we can’t look the other way, we’ll still pursue, but it’s really more of an emphasis to answer your question on making sure we’re making what we have work better.
Gerry Sweeney: Got it. So we’re sort of quintessentially, make some acquisitions, take a step back, optimize, drive cashflow. That’s got to start coming down. And then in the background, there’s still some acquisition opportunities, but they’ll reaccelerate as you go through.
Richard Warzala: Exactly.
Gerry Sweeney: Okay. That’s it for me. I know we have a follow-up later, so I appreciate it. Thank you.
Richard Warzala: Okay, great. Thanks, Gerry.
Operator: [Operator Instructions] This concludes our question and answer session. I would like to turn the conference back over to management for any closing remarks. Please go ahead.
Richard Warzala: Thank you everyone for joining us on today’s call and your continued interest in Allient. We will be participating in the ROTH Conference on March 18th in Dana Point, California. Otherwise, as always, please feel free to reach out to us at any time. And we look forward to talking with all of you again after our first quarter 2024 results. Thank you for your participation and have a great day.
Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
