Jim Hippel: No, that’s a great point, Chuck. We are actively reallocating resources towards those higher growth platform. So it’s our prioritization process at work real-time. And as that relates to margins and by holding our overall cost base, we’re relatively neutral, maybe a slight uptick throughout the year, but relatively neutral for the remainder of the year. Anyone who follows our business knows that our second half is. From a revenue perspective, seasonality-wise is much stronger than our first half, simply because our customers are at the bench more days than they are in the first half of the year without all the vacation interruption. That additional revenue on top of that same cost base should allow our margins to continue to expand sequentially.
Chuck Kummeth: And by the way, people are coming back to work here.
Patrick Donnelly: Yeah. Got you Chuck, and then maybe one on Wilson Wolf. Can you just refresh us in terms of the milestones and timing there? Has anything changed as your conviction and going forward with that change and all?
Chuck Kummeth: We’re running out of time, so I got to move fast here. They’ve slowed down, too. But as you know, the targets are $92 million in revenue or $55 million in EBITDA for the first tranche. They’re very close on one of them. And we may strike soon, we may choose to wait. It’s as much strategic as it is anything else. We’ve got the cash, we were ready to go. So we might choose this to weigh in and go sooner than later. We’re not sure yet. But it’s very — we’re getting close to trigger. I got to believe in the next things pick up at all for them, we’re going to hit it soon. If they don’t pick up, but it might be in the couple of quarters. But we’re within our sights here. Nothing has changed strategically. Nothing has changed culturally, nothing has changed in the relationship. The teams are tighter than ever. If anything, they’re pushing to get closer and get this to happen. So a great question. It’s looming, and I can’t wait.
Operator: Our next question comes from Justin Bowers with Deutsche Bank. Please proceed with your question.
Justin Bowers: Hey good morning, Chuck and everyone. Just one here on China. Just — is there a way to parse out how much of the slowdown was between the consumables versus the instrument business? And the second part to that would be in terms of the seamless funding coming on, do we have a sense of the duration of that, i.e., will that be a tailwind to calendar year 2024 as well based on some of your conversations?
Chuck Kummeth: I think stimulus in the US, or anything related to that is here and gone. I think the OEM comments are more about consumables and the instruments are slow to basically of just prudent conservatism buying biotech and biopharma and funding in general. So it fits more funding on the instrument side and the conservatism and OEM is more on the consumable side. Well, in China, China is just they’re not at work. They’ll be screaming back here very soon. I’m not worried.
Jim Hippel : Yes, I’d say the slowdown from our, call it, 20% plus normalized growth to mid single-digit growth was across the board in both instruments and consumables. And rains to be seen how long the stimulus impact last, but it’s going to take more than a quarter to spend that much stimulus in our opinion. So I think for the one point, it will be a multi-quarter, if not a year in benefit.
