Moshe Eisenberg: Yes, indeed, most of the orders the 2 40 machines that we have received so far are for deliveries in 2024. I don’t have the exact percentage, but most of it is for 2024 deliveries. With respect to book-to-bill, obviously, in Q3, the book-to-bill was much higher than one. We are still in the middle of the fourth quarter, so it’s still early, for me to say whether the book-to-bill this quarter will be greater than 1, but my expectation based on orders that we have received so far, plus, orders that we have in the pipeline that indeed it will be greater than 1.
Brian Chin: For a follow-up, for calendar ’24, you stated that this should represent a record revenue year the company, FRT certainly adds to this. Can you give us an idea of the impact to the model, gross margins and expenses from FRT? And also, how do you plan to integrate the technology into new and existing platforms? And does the acquisition also provide favorable customer synergies?
Rafi Amit: By the way, regarding the acquisition of FRT, I think that in 2024 when we discuss about to integrate to Camtek, we mainly mean in the operation in sales and customer, we are not, we don’t have any plan right now to start to integrate the model from here to there and to come with some new tool, this is not in our priority. FRT has its own backlog for what they did in the last few years, Camtek also have enough backlog. So we believe that 2024 in term of R&D integration, let’s call it, we are not going to put too much focus, but more on the administration, operation and other aspect of the 2 company to work together as one. This is regarding the FRT and Camtek.
Moshe Eisenberg: Just to add, you asked about the contribution to the financial model. So I would say the following. We said, when we announced the deal, the day we plan a contribution of around $30 million for FRT next year, and we feel that this is still a good number. For the fourth quarter, their contribution is expected to be pretty much in line with this run rate. And, overall, this business is quite profitable and it’s very similar to the profitability metrics off Camtek.
Brian Chin: And just to clarify, Moshe. You said 4Q in line with the 30 million run rate run rate, or is that 1Q? Because I guess 4Q, you only have it for 2 out of 3 months?
Moshe Eisenberg: So the 2 out of the 3 months is within the run rate. It’s only 2 months within the fourth quarter. Correct.
Kenny Green: Next question will be from Tom O’Malley from Barclays.
Tom O’Malley: So just a little confusion on Q4 there, and I want to kind of…
Kenny Green: Oh, sorry. Tom, you there? We lost you.
Tom O’Malley: Yes Can you hear me?
Kenny Green: Yes.
Tom O’Malley: So just wanted to just run through Q4 a little bit here. So in the slide deck you had on the web this morning, you had 82 to 83 for Q4. So I assume that that was the organic revenue, and then you’re guiding to 88, so that would imply a $5.5 million contribution from FRT. Can you just walk through what the exact contributions are in Q4? Just because I’m seeing a couple different numbers here?
Rafi Amit: No. I’m not sure what the $82 million to $83 million where this number comes from, but maybe a typo. As I said, you know, our $87 million to $89 million includes some organic growth from Camtek plus contribution from FRT. In a level that is pretty much the run rate of the $30 million that we expect next year. So the correct guidance is 87 to 89 combined with the FRT contribution.
Tom O’Malley: So $30 million run rate and you’re going to adjust that for the 2 or 3 quarters. That makes sense. Going into the out year, are you expecting an acceleration of that FRT business, or is that 30 million still, what you’re sticking with for the contribution from the acquired business for ’24?
Rafi Amit: For ’24, what we said and we’re staying with this assessment that it will be 30 million for ’24. Of course, as we learn the business, we will be more we will learn it, but that’s the expectation as we go into 24.
Tom O’Malley: And then lastly, when you guys look at a booking’s year traditionally, I would imagine that just given the amount of orders that you guys have, your visibility is a lot better. When you guys say record revenue for ’24. Is that record revenue fully backed on existing orders today? AKA with the orders that you have in the book, is that already a record revenue year, are you expecting some turns business year-over-year to get you above that record revenue?
Rafi Amit: So first of all, the record revenue today, it’s an expectation. The backlog today that we have in hand still does not support the record revenues. But understanding what we have with the pipeline, talking to customers, our expectation is to be for a record year. Very similar to what we said a quarter ago.
