Tricia Fulton: I think that the run rates going, I don’t know that we want to look at it necessarily as the run rates for 2023, but possibly heading into it in, in the first quarter. I do think that with all of the new products coming out that, that we have both in electronics and hydraulics, we’re going to be able to drive additional top line revenue in 2023 that will get us above that run rate as we go forward. Certainly it could hold true for 20 or for q1, but not for the full year of 2023 given new products plus the new product rollouts that we have coming out at innovation, which have been really years in coming with the relationships we have with those OEM.
Operator: Thank you. Our next questions come from the line of Nathan Jones with Stifel. Please proceed with your questions.
Nathan Jones: I guess I’ll follow one from Mig. Maybe we can talk about the parts of the electronics business that aren’t Balboa. You talk about strength in marine and, and recreation obviously exposed to consumer spending trends there. I think general, generally speaking in the US at least, there’s a lot of complaining about inflation, but it hasn’t really stopped consumer spending at all yet. So what are you guys thinking about the risk of those markets slow down as the Fed continues to, to raise interest rates and inflation’s generally going to bind into consumer sentiment? What’s the risk that you, you see a drop off in those businesses going into 2023?
Josef Matosevic: Nathan, on the innovation side, knowing what we know now, folks are having a really strong year. And again, what Trisha said earlier, you know, our investments over the last two years in TED product line in into the diversification gives us a very strong confidence level that this journey will, will continue. The products that have been rolled out in 2023, as you know, Ted business becomes very sticky for a minimum of two to three years, and then there’s a refresh and then it continues. So we really feel very confident that innovation will continue to grow with strong margins and have a very solid year as it, it stands right now.
Nathan Jones: So your view is that the market share gains from new product rollouts in ’23 can offset any end market weakness that you see for innovation?
Josef Matosevic: Yeah, the key comment is here, Nathan, for folks to understand is as I mentioned this during our analyst, they traditionally, you know, innovation has been, you know, a marine and recreational customers supply and now we are really diversifying this into many other applications with that product line and that is the strength of innovation going forward. It’s no longer just a two key market. It’s an expanded, broader market offering with much stickier solution leveraging the entire technology play of and innovation. And on top of that you have the hydraulics coupled in on the system sales side. It’s really a good deal here. So I don’t see the headwinds, but I think we are very, very comfortable saying that innovation will continue to succeed with very strong margins.
Tricia Fulton: Just to add on to that a little bit, Nathan, we’re already starting to see some really good and interesting opportunities with the open view displays that we have had a couple press releases about through innovation and those are brand new opportunities and ones that we couldn’t have gotten with our existing product line under the good, better, best strategy. So we’re very encouraged by what we’re seeing from the marketplace related to the, that specific new product.
Josef Matosevic: And in particular, Nathan, to the two areas that you will see probably you folks will see probably sooner than later is the, you know, diversification into the energy market and general industrial, what we call it. That’s where applications will go here next.
