This is compared to a net income of $20 million or $0.45 per share in the third quarter of last year. Total diluted number of shares as of the end of the third quarter was $48.3 million. Turning to some high level balance sheet and cash flow metrics. Cash and cash equivalents, including short and long-term deposit as of September 30, 2022 were $460.3 million. This compared with $438 million at the end of the second quarter. We generated $25.3 million in cash from operations in the quarter. Inventory level remains flat compared to the end of the previous quarter. In the last few quarters, we increase the inventory to overcome potential supply chain issues. With the stabilization trend of the supply chain, we plan to reduce the inventory level.
Accounts receivables went down by $9.7 million as we had good and strong collection in the quarter. This represents approximately 71 days outstanding. I would like to note that the company management is closely monitoring the different scenarios of market demand and customer investment plans for 2023 and is ready to respond accordingly. Regarding guidance, as Rafi mentioned before, we expect fourth quarter revenues to be around the same level as of the third quarter. And with that Rafi, Ramy and I will be open to take your questions. Helft?
Ehud Helft: Operator?
Moshe Eisenberg: You with us?
Ehud Helft: Yes, I continue with the sweep all the way. No problem.
Moshe Eisenberg: Yes. Okay. Operator?
Q – Brian Chin: Hi there. Good afternoon and thanks for letting us ask a few questions. Maybe, kind of Rafi, first following the recent U.S. export restrictions into China. I’m just curious, what is your sense on the new investments or how the new investments in fab and Advanced Packaging capacity might be directed and prioritized moving forward? And also, how big of a benefit do you see this for Camtek next year based on increased activity in China in areas like Advanced Packaging or specialty power, et cetera?
Rafi Amit: Yes. The situation in China, I think, remember just four weeks ago, the Commerce Department, made all these restriction and the announcement, and I think it’s too early to evaluate the effect on the semiconductor industry in China. But at this point, when we discuss with customer in China, it looks like business as usual and utilization is okay. And the PO everything look like normal. So, I believe it’s still too early to understand if this restriction, it’ll affect the whole industry or specific area we don’t know yet. But as I said, for at this point it looked like business as usual.
Brian Chin: Okay. And kind of moving beyond the geopolitical, but is it fair to characterize, the environment you’re seeing and sort of the €“ your order book and the backlog and those patterns? Is it fair to characterize, your Advanced Packaging customers and maybe even more broadly as being in a digestion mode and based on your order book, can you provide any sense on the revenue trajectory in the Q1 or first half next year?
Rafi Amit: Look, first of all, as we mentioned, most of our customer are not in the high notes, and we are mainly support the OSAT. So they’re not in this, under this restriction. Second about the backlog and pipeline, I would say that if we just look, a year ago, definitely all the supply chain interruption cause to many customer to place all their ahead of time to secure delivery. Now when delivery back to normal and people feel more comfortable and even some think about, even probability of slowdown, definitely a customer not so hurry to place order. So, we can see that the amount of pipeline is much bigger than backlog. So, we discuss this customer. We see leads, but we can’t see today, forecast as we saw a year ago, because the customer looking they place order when they really need it and they don’t feel they need to secure, delivery few quarter ahead.
