Gil Benyamini: So the DataPath revenues is around $50 million plus or minus 10% and probably will land on the satellite networks but it’s still under accounting review so it’s a bit early to say.
Chris Quilty: All right, fair enough. In general, how I mean – I know you don’t provide orders per se in terms of an order book, but what have you seen as you look back I guess over 2023? What have you seen in the trendline towards order strength or weakness over the course of the year and sort of what are you baking in as you go into Q4?
Adi Sfadia: So it really depends on the segment. But in general, I would say that our bookings or order ins are give or take as expected at the beginning of the year when we put the guidance, we are seeing a lot of traction in IFC and in cellular backhaul, in the defense we are developing our pipeline. I’m sure you know that the sales cycle is very long in the defense. So we are seeing slow but very good progress and we hope to have a tailwind once we close the DataPath acquisition. We are seeing some slowness in integrated solution order, but we expect to ramp up in the next quarter or two. And in Peru, it really depend on local RFPs and we know that the government plan to launch several very large RFPs in the next few weeks and we also expect some contract expansions and extensions. So we expect a strong close for the year in Peru.
Chris Quilty: Got you, you mentioned integrated solutions and obviously there’s been a lot of weakness this year. Can you remind us I mean is that, certainly most of the defense companies that I deal with have talked about order slowness with the government? Do you think it is more related to the macro government purchasing environment or is it specific to the programs that you’re working on that you’ve seen some delays?
Gil Benyamini: I think it’s combination of the two but I would say that the majority of the slowness is the shift that we are seeing between several large projects which ended during 2022, early 2023 and other large projects that we awarded. We expect them to uplift towards mid or end of next year. So it seems like a transition year.
Chris Quilty: Got you. That’s good color I wasn’t aware of. And then I guess, final question and sorry this is a little esoteric but Gil, it looks like you’re – crap, lost it in the model. I’ll catch you on that one offline. Never mind.
Gil Benyamini: No problem. Thank you, Chris.
Operator: The next question is from Gunther Karger of Discovery Group. Please go ahead.
Gunther Karger: Yes, thank you. Excellent quarter, congratulations. I didn’t hear any comment on Peru. Could you give an update on Peru please? And also the second question is, I may have missed the comment. Do you expect to close on the DataPath this year?
Gil Benyamini: So can you repeat your question again about Peru?
Gunther Karger: Yes, just a general update on Peru, I missed hearing anything on that.
Gil Benyamini: Sure. So in Peru, business as usual, we are close to the end of finishing the sixth region, the Amazonas region that awarded back in 2018. We expect to start the acceptance procedures with the government before the end of the quarter and to final acceptance of the mid of next year and then to switch to operation phase. In parallel, we see a lot of bids that are coming up soon in the quarter and we are also expecting several contract expansion and extensions. So we expect to have a strong booking quarter for Peru. As for DataPath, indeed we are progressing towards closing this quarter. We already received CFIUS approval. And we still awaiting one last government approval which by recent indication we expect to get it in the next, if not days than weeks. And there are some leftover of customary closing condition which we expect to achieve as well in the next few weeks. So indeed, we are expecting to close the transaction this quarter.
Gunther Karger: Thank you. And also, regarding the DataPath, do you anticipate keeping that operation as a separate subsidiary, or do you expect to integrate that into your military and defense operations?
Adi Sfadia: Combination of the two, DataPath is going to be an important leg in our defense strategy. But we do expect them to continue to work independently and to grow their business while using Gilat and Wavestream resources in the defense in order to increase the overall defense presence of Gilat worldwide.
Gunther Karger: Thank you very much, Adi.
Adi Sfadia: Thank you, Gunther.
Operator: [Operator Instructions] There are no further questions at this time. Mr. Benyamini, would you like to make your concluding statement?
Gil Benyamini: I want to thank you all for joining us on this call and for your time and attention. We hope to see you soon or speak to you at our next call. Thank you very much and have a great day.
Operator: Thank you. This concludes Gilat’s third quarter 2023 results conference call. Thank you for your participation. You may go ahead and disconnect.
