It’s bringing us a lot of opportunities, leads through marketing activities. Pipeline is very strong, booked revenue, revenue that — the contracts that are already booked to be scanned, is also at a healthy level. So therefore, going into the new year, we continue to be very bullish about those two lines. And as soon as we see some stabilization in the construction market as a company, our hope is that we will continue to see some positive growth overall.
Gregory Burns: Great, thank you.
Operator: Your next question comes from the line of David Marsh from Singular Research. Your line is live.
David Marsh: Thank you. Hey guys. Thanks for taking the questions. During the quarter, did you have any significant customer wins that you could talk about? And if so, could you talk about sectors that those they have been in?
Kumarakulasingam Suriyakumar: Go for it.
Dilantha Wijesuriya: Yes, so I wouldn’t, David, speak about a specific customer per se because remember, as a company, we don’t necessarily focus on one big job, right? Because as you know, we have 100 sales consultants that sells out of 140 locations. And obviously, we focus on the 53 verticals. So our customers come from all segments, all types of jobs from very simple jobs locally that we do versus regional type of campaigns as well as national campaigns as well. So I cannot pinpoint to one specific area when we look at our color growth. It’s coming from all segments, all types of customers, all sizes of jobs as well. With regard to what I can see from the wins that we get on the digital color side is that the brands that we are continuing to sell to and getting excited about working with ARC is continuing to grow.
There are some top brands. We have renewed a couple of sizable contracts for digital printing in the last quarter. So with the things happening in the U.K., with the things happening in Canada or with the things are going on in the U.S. market, we can see some really potential and good opportunities as we go into the next quarter, and they are all revolving around our ability to satisfy and promote our customers’ brands through visual graphics.
David Marsh: Got you. And do you guys get any kind of uptick at all from political activity? Or are you realizing any revenue from increased advertising in political spaces? Or is that not really a big driver for you guys?
Kumarakulasingam Suriyakumar: David, that market is not a significant market at all for us. Yes, we do occasional political banner or two. But that work that you see where people have the stick in front of your garden and all of those are very cheap printing. They’re on cheap material, cheap, long runs. And we don’t necessarily play in that market because the margins are extremely thin, and that’s we don’t concentrate very much in that market.
David Marsh: Got it. Just turning a little bit to the balance sheet. Could you talk about the share repurchases? What was the average purchase price per share?
Jorge Avalos: Roughly for the quarter, we spent about $1 million on share repurchases for the quarter. Average price on those, it will come out when we distribute our 10-Q here in the next day or so. But roughly in that $3 range.
David Marsh: Okay. And could you refresh me on remaining authorization there, Jorge?
Jorge Avalos: We have about $9 million left.
David Marsh: $9 million authorized, okay.
Jorge Avalos: It was authorized $15 million. Obviously, we’ve been buying shares, but we have about $9 million left.
David Marsh: Right, and then I did see that the interest expense ticked down in the quarter. I appreciate your comment that you use cash throughout the quarter to bring the revolver down. Is there anything further you could do there to continue to drive that lower? And is that something that you’re considering at the moment? Or is it — are you pretty comfortable with where things are? I mean obviously, leverage is not a big issue for you guys, but I thought that was a nice point there, $50,000 improvement in interest expense in the quarter.
