Daniel McGahn: I think, you know, the bid activity has exploded, I think the number of projects that we’ve looked at, certainly is at the highest point, since I can remember. So the prospects for the – business are greater than they’ve been, certainly in the past years. When we look at the order intake, we have been announcing today we close more than 40 million of orders last quarter. When we look at the run rate of what we’re just doing in new energy over the past three quarters, it’s about 30 million, just for new energy, right. So then you got to add in what we’re doing with the Navy, you got to add in what we’re doing with wind as well. Is there any other commentary you want to talk about John? Is that helped Colin?
Colin Rusch: Yes, I’m just curious about the win rate in any delta around that?
Daniel McGahn: Well, the hard part we have with the win rate is most projects down and this is what we’ve done. You know, even with Neeltran and to some extent with NEPSI. We try never to compete directly. So the way we do it, it’s a very early decision if we’re going to win or not. And then it depends upon how the project goes forward is, we make things smaller and less complex. And if we’re able to design that in with the engineering company, which is usually the engineering procurement construction company, then we really eliminate a lot of competition. I wouldn’t say all, but almost all. So we’re – today in this version of the business, we’re really never in the decision making by purchasing an engineer has made a design that requires our smaller footprint, which means that it’s hard to go out and get an alternative.
So when we look at direct project win rate is extremely high, right. But to be transparent, there’s a lot of work that happens in the quarters before even getting the order. We were trying to get designed and on the print, be it for a ship or for a substation. And really those are the two that we’re focused on. And the same techniques we use for the ship we use for the substation, which is how do we make it smaller, more and more energy dense? How do we add more feature function than what the alternatives are? And that’s true across everything that we do.
Colin Rusch: That’s incredible helpful. Thanks so much, guys.
John Kosiba: Colin, there are two indicators we’re looking at is pipeline growth, which is Dan just highlighted. And we do, especially for the last year, as we had to address our prices based on the raw material inputs going up. We have been carefully watching our customers and making sure that we remain competitive and across the board and the businesses, there’s no evidence to suggest that the bids we’re doing are making us uncompetitive. There’s, isolated pockets we’re watching and we’re concerned about whether there’s a more competitive landscape to it. And but as of now, there’s no…
Daniel McGahn: And that’s actually going to happen we’re much more focused on margin going forward, right. I mean, that’s the thing that people need to hear is we’re trying to grow the business, but we’re trying to expand margins as well. And that means that and that’s I think why Colin’s get that the question is, well, now are you running up to a competitive pressure with this current pricing? We haven’t seen it for the business that we want to take. And that’s really, I think the key point we want to make today
Colin Rusch: Appreciate the detail guys.
Daniel McGahn: Sure.
Operator: The next question is from Justin Clare with ROTH Capital Partners. Please go ahead.
Justin Clare: Yes hi, thanks for taking our questions.
Daniel McGahn: Hi Justin.
