So this is what we’re really, really good at. And it’s, of course, right now, the sometimes maligned academic government markets. If you’re in the right spot, if you’re in the post-genomic trends, which is proteomics post-translational modification, spatial biology, antibody, sell on – stable cell line development, that’s great. And I think we’ve positioned ourselves in the right areas. I should also add, and I know you – that tends to be one of your questions, that the high-end semiconductor and advanced packaging metrology tools in the Nano group are also doing remarkably well. There is a bit of a cyclical downturn in semi, but with our technology buys and the strong push for really high-performance, newer packaging and chip technologies from artificial intelligence and these geopolitical trends of the U.S. rebuilding and Europe rebuilding their semiconductor industries, it’s really we’re not fully shielded from the economic trends that others are seeing or the macro trends but we’re just more diversified, and we have positioned ourselves for spatial biology, protel, mix AI and a few others to some trends that are – continue to be very strong.
Alright. We should probably let some others get in with questions as well, but that’s sort of good innovation, good portfolio, exciting new products.
Puneet Souda: Appreciate it, Frank.
Operator: The next question comes from the line of Derik De Bruin with Bank of America. Your line is now open.
Derik De Bruin: Hi, good morning. Thanks for taking my questions. Hey, Frank, we’re trying to understand some of the dynamics going on in the market, particularly in the biopharma space. I know you have a you don’t have as much exposure to some of your peers right now. And – but there has been some concesitation in terms of instrument buying like that. Could you just provide some incremental color on what you’re seeing in pharma? And I have a follow-up after that.
Frank Laukien: Yes. The – we see some of that as well. Biopharma investments are slowing down, budgets are not getting spends aggressively, especially among emerging biopharma that we will keep it on their cash runway and so on. Also, we did see China CRO business being – for NMR, for instance, being pretty weak. So we’re not immune to some of the trends you see elsewhere, we don’t really do bioproduction very much or anything like that. We have very little COVID testing business. So – but we see – we can confirm some of those weaknesses they are just a year ago or 2 years ago, my god, if you weren’t in biopharma, you were nothing, right? We’re strong in biopharma. We’ve been growing very nicely, but we have so many other drivers as well.
So we confirm the trends. We just have many other growth. We’re not firing on all cylinders, but we’re firing on some – a lot of cylinders, and we have some very unique portfolio positioning and really some very innovative high-performance product lines that compete extremely well.
Derik De Bruin: Great. And I’m going to stay on the market commentary. I mean, you alluded to some metrology in semis, but what about some of the more industrial-focused customers? Chemical spending seems to – be, chemicals and some of those other markets that are out there. Can you just sort of talk about broader macro industrial spend and CapEx spend in those places? Thanks.
Frank Laukien: Yes. So metrology, memory and then some downturn there, and we’re seeing that in some metrology orders, but again, some very high-end orders also for advanced packaging and things that you need very high-performance computing and etcetera, for our AI. General industrial, we don’t really spend, we see some weakness there, but we also see we’re really a lot in industrial research, and there is some really non-cyclical fast-growing areas in green tech, in battery research in other hydrogen economy. There is enough green tech of a green tech economy that is a very strong growth drivers and other industrial research, industrial materials have been good for us. And then I really think we have share gains that maybe base since, but they add up to, we’ve refreshed and how we’re not neglecting our core and just milking the cow.
