Albert White: Yes. I think that it’s okay, but I wouldn’t go really any further than okay. when I look at fiscal Q4, certainly and how we started this year, I mean, we’ve got some good numbers there because of rebound activity. But if I look at actual patient traffic with respect to OB/GYN visits, specifically associated with we haven’t really seen much of an improvement there. So I think there are signs of potential improvement, but I wouldn’t read too much into that right now. I think we’ll still have a challenging year, if you will, with PARAGARD in terms of getting a lot of unit growth out of it.
Operator: Our next question comes from Joanne Wuensch from Citibank.
Joanne Wuensch: A couple of questions. You’re talking about a 9% contact on market growth that absorb pay 2% price. Maybe that makes a 7% market grower. That’s higher than the normal average. What’s driving that growth?
Albert White: Yes. It’s — boy, there’s a lot of good demand out there when it comes to contact lenses, I can tell you. And I would say it’s probably true for all visual correction companies. We were running pre-COVID. We got up to running kind of a round for a market, 5% to 6% and maybe there was a 0.5% or a point of price, something like that in there. it’s stronger than that right now. So whether it ends up being — the shift I talked about to torics, the shift to multifocals, the shift to daily silicones, that kind of stuff that was happening before is still happening. You’re getting a little bit, honestly, I think, from COVID. I think that you had so many kids who were inside and so many people who have not been able to go to the optometrist, that you’re still seeing a push there.
I mean you can still talk to retailers in optometry offices about issues they’re having, meeting the demand from patients. And some of that’s not enough optometrists and changes in optometry work habits and so forth, but they’re still staffing challenges. There’s still demand-related challenges that are out there. So I think it just ends up being a better industry, frankly, than it was even years ago. The macro growth drivers are arguably stronger than they were pre-COVID.
Joanne Wuensch: And then as a follow-up, Help me understand what gross margins might look like next year, given everything.
Albert White: Yes. I think that you’ve got a couple of different things that pushed gross margins higher and lower, and you certainly have currency in there that ends up starting to be a positive to help us. But the price increases we’re talking about also flow directly through. So at the end of the day, we’re expecting to see improvement year-over-year in gross margins. I won’t go into specific numbers on that, but gross margin should be up year-over-year.
Operator: Our next question comes from Jason Bednar from Piper Sandler.
Jason Bednar: Sorry if any background those here. AL and Brian, within that 7% to 9% organic revenue guide for CVI. Can you help us understand how you’re thinking about the geographic buildup from that guide. I asked the Americas performance was a little soft this quarter. Just curious how you’re thinking about the growth contribution that you look around the globe for fiscal ’23.
Albert White: Yes. The Americas is kind of in line with market, if you will. That’s where we’ve been running a little bit here for CooperVision for a couple of quarters. And then we’ve been outperforming in Europe and outperforming in Asia Pac. I would assume that that’s going to continue. We put up some good numbers, right? And there’s — in Europe, and there’s some questions about that in terms of what happens with the consumer there, but we’re continuing to see good demand in Europe. Our key account strategies are really successful there. So I’m expecting us to continue to put up solid results in Europe. Asia Pac is certainly coming back. We posted a good quarter. As you’ll remember, pre-COVID for a number of years, we were double-digit in Asia Pac.
