Patrick Lavelle: When we look at our relationship with Sharp, Sharp was the primary manufacturer to Onkyo before we were to take them over. And part of the acquisition is that we worked very closely with Sharp and we became partners in the acquisition of the Japanese Onkyo company. And our relationship remains where Sharp manufactures the product. We jointly own the company that develops the product, and PAC, our Premium Audio Company is the arm that markets and sells the products worldwide. They are a key supplier to us. They own as we reported, approximately 24% of the Japanese operation. As far as premium audio, premium audio in our Consumer segment is the largest segment we have. And obviously, I’ve announced that some of the sales were down from last year, but we do maintain number one market share in premium loudspeakers we have for years.
This is just really a result of what’s happening in the economy. We expect to maintain number one market share in our speaker business, but we are also increasing market share that we have in receivers under Onkyo and Pioneer. So, an important segment within the entire VOXX operation.
Matthew Chen: Okay. Thanks. And the specific question I think might be for Mike, because in note two of the 10-Q you state that a Gordon growth model is used for expected payments made beyond the last year of projections. So, I’m wondering what’s the last year of projections and then for the growth model, what’s the discount rate and growth rates assumed in the growth model?
Patrick Lavelle: Mike, do you have that? You’re muted, Mike.
Operator: Pardon me. Speakers, this is Michelle. It actually looks like when Mike went to unmute, he disconnected himself.
Patrick Lavelle: Okay. All right. What we’ll do is we’ll get back to you with that — with the answer to that question. I’ll have Mike contact.
Unidentified Analyst: Okay. Sounds good. Yeah. Thank you.
Patrick Lavelle: Thank you.
Operator: Thank you. And I’m showing no further questions at this time. And I’d like to turn the conference back over to Pat for any further remarks.
Patrick Lavelle: Okay. As I said, based on the economy and what we see happening in the economy, we will adjust, we will remain nimble. Hopefully, the Fed can achieve a soft landing and we can move forward. We do have a number of new automotive OEM awards that will start this year and later into the year. And again, the expansion of Onkyo and Pioneer worldwide will help offset a lot of the decline that we may see in the general overall economy. I want to thank you for joining us this morning, and I thank you for your support of VOXX. Have a great day.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect everyone. Have a great day.
Patrick Lavelle: Thank you.
