Peter Smith: Yes, so we have record North America private network bookings. Our book-to-bill is over one and we coming into the year we had a record backlog. So we think our backlog is in great shape. Our chip development continues in a timely way. We will be ready to meet our customers’ needs in terms of capacity, frequency spectrum, and total cost of ownership. One thing that I would add MaxLinear is the partnership remains solid and productive. And from a risk perspective, what is transpired as chips have “de-globalized.” We’ve become aware of additional modem developments in Europe and in Asia that as investors have expressed some concern about any one semiconductor chip company dependency, we see the modem environment as what being less risky, but with that MaxLinear remains a great partner to Aviat and we’re jointly executing on the technology development.
Erik Suppiger: Okay, and then you had mentioned BEAD. Is there any change in terms of your timing? I believe funding for projects is probably a 2025 timeframe. Is that still the expected timeframe or is there any update in terms of your expectations for timing?
Peter Smith: There’s a little bit in the press that will say some of it might happen in calendar year 2024. We think the BEAD impact is going to be in the January to March quarter in the year 2025. So we’re unchanged on that and I just thought I would talk about what you’re reading in the press. We think it’s an early 2025 impact. So I would add one more item, 45 of the 50 states have submitted initial draft to the NCIA, which is the first step in unlocking the BEAD funds. So, I talked about the overall timing. There’s a bunch of precursor steps that need to happen for BEAD and this 45 of the 50 states submitting the initial draft is progressing and that’s encouraging to meet the early 2025 impact.
Operator: Thank you. One moment for our next question. The next question comes from the line of Tim Savageaux with Northland Capital Markets. Your line is now open.
Tim Savageaux: Hey, good afternoon, and congrats on the results. First, just a real quick question. Any 10% customers in the quarter seems like, given your commentary around U.S. Tier 1 strength, that’s at least a possibility?
Peter Smith: Yes, hey Tim, there was one around 10%, but we don’t expect that to continue.
Tim Savageaux: Okay, great. Can you say whether that was U.S. or international, or North America or international?
Peter Smith: It was U.S.
Tim Savageaux: Okay, great. And Pete, I think your 30% growth comment for the fiscal year, the type of growth you’re looking for. And I wonder if you might have a similar metric for a U.S. rural broadband. You referenced the WISP show. I thought there was some kind of accelerating momentum and evidence around fixed wireless after a so-so period, the last really couple of years. But I think you’ve told us from time-to-time how fast your rural broadband business is growing in the U.S. I’m not sure you did this quarter, but any chance of getting a comparable type metric for U.S. broadband growth to the one you gave, I assume it might be greater, much greater potential?
Peter Smith: So, the reason I answered the India question is because I had that prepared. But so I don’t have the specificity that you’re perhaps looking for, but let me give a little bit of flavor. Our rural broadband business continues to be about 9%. We would say it’s probably growing on the higher end or exceeding our fiscal ’24 growth rate. But to be more specific, I don’t have those answers in front of us. What would accelerate it would be the RDOF funding kicking in. And we’re also encouraged by the expansion of the 6 gigahertz frequency broad license band which because we think, that fixed wireless opportunity drives more for backhaul. So, we would qualitatively agree with you. We’re not ready to put a number to it, Tim.
