Jay Miller: Yes. I would say one of the significant headwinds is as this, we were not as the global supply chain starts to ease, and really, if we look back 12 months to 18 months, it is quite a bit better now than it was before. As we have seen that ease, our customers are more comfortable with their inventory and, in some cases, they have pushed orders out because they are not as concerned about the inventory, because we are performing better, which makes for an interesting dynamic in the market. There is also concerns, of course, as the Fed has pretty €“ been pretty aggressive about taking interest rates up about whether we are going to really see a hard landing or a softer landing. As we see this, by the way, we kind of anticipate that that pendulum as it goes back, and we have seen business push out, we expect that, that will come back, of course.
And we will get back to normal run rates in terms of business. Our customers, for the most part, tend to be a little more independent, if you will, of a lot of the regular market or economic fluctuations because they are in the defense space or because in they are in the medical space. So, we expect things to normalize out a little bit here this year. And look, we are all anticipating and, well, we will say, we are planning for a harder landing and hoping for a softer landing, if you will.
Paul Luther: Got it. Thank you. And one final question. Here we sit two weeks before the end of Q1. Would you guys give us a little sense of how Q1 is tracking at year-end? And maybe relative to Q4 top line run rate margin and the like?
Jay Miller: Yes. We won’t comment specifically on Q1 at this point, partly because we are €“ obviously, we are right in the middle of it. And like most businesses, the last month of each quarter is pretty busy. So, we won’t comment necessarily on Q1. But we do expect that we will have a solid year this year overall, and we really like our strategic plan going forward over the next 6 years.
Paul Luther: Got it. Thank you, gentlemen.
Chris Jones: Thank you, Paul. Appreciate it.
Operator: There appear to be no further questions in queue at this time, so I will hand it back to management for any closing remarks they may have.
Jay Miller: Good. Ali, thank you very much and thanks everyone for joining us today. We look forward to talking to you next in May at our first quarter €“ for our first quarter 2023 results. Thank you and happy St. Patrick’s Day.
Chris Jones: And this is Chris, and I will go through our Safe Harbor statement again. So, as a reminder, statements made during this call and the Q&A session were forward-looking regarding expected revenue, earnings, future plans, opportunities, expectations. These estimates, plans and other forward-looking statements involve unknown and known risks and uncertainties that may cause the actual results to differ materially from those expressed or implied on this call. These risks, including those that are detailed in our most recent Form 10-K, may be amended or supplemented. The statements made during this conference call are based on information known by Nortech as of the date and time of this call, and we assume no obligation to update the information in today’s call. You can find Nortech’s complete Safe Harbor statements in our SEC filings. And with that, I will end the call. Thank you and we will talk again in May.
Operator: Thank you, ladies and gentlemen. This does conclude today’s conference call. You may disconnect your lines at this time and have a wonderful day. We thank you for your participation.
