Todd Gleason: I’ll start. International markets are going to be in the neighborhood of a third to 40% of the business. With respect to margins, margins are really driven by the end market and the application. We find we get superior margins in very challenging applications in any of our brands regardless of where the opportunity lies. U.S., Asia, Middle East, Europe, it’s not one — we don’t have a low margin region. We don’t have a low margin, shall I say business. What we have are brands in our company where that have different degrees of leadership and competitive advantage, where margins are either under pressure or to some degree under pressure or not. So, look, in that — with that context, if we think about what’s happening internationally, big investments in industrial — industrialization in India, in Southeast Asia, and the Middle East, as they begin to diversify their economies and they’re looking at best-in-class technologies first and only defaulting to something less than best-in-class if it is something that can’t be achieved.
And a best-in-class technology comes with a global price. And that’s our starting point. Now, that’s not for every customer, but that’s for the majority of the customers that we serve.
Amit Dayal: Understood. Thank you. And just one last one. With respect to the sales and backlog and pipeline, are you seeing synergies for the different product segments within the customers? Basically what I’m trying to ask is, like, now you have a broader offering or product portfolio, are you seeing the same customers buying more of your products versus previously?
Todd Gleason: Well, we don’t consciously seek to cross-sell. We have organized our business in a way that ensures that we have end market and application focus. We may use select customer relationships in one business to open doors for another business, but we don’t have an incentive built into our comp system or our management model to drive a cross-sell. And that’s on purpose. Now there are certain and select customers that approach us and ask to do business with more than one brand or one business and we accommodate that and we support that completely. And we see that in very few but important end markets, one being semiconductor and another being automotive production, or automotive and component production, where across brands we see a need and we have had the opportunity to combine multiple brands in front of a customer, but we’ve not organized a sales force to do that and we’ve certainly not deployed a strategy to do that.
Amit Dayal: Understood. That’s all I have, guys. Thank you so much.
Todd Gleason: Thanks, Amit.
Operator: This concludes the Q&A portion of today’s conference. I would now like to turn the conference back over to Todd Gleason for any closing remarks.
Todd Gleason: Yeah. Thanks for all the good questions. I appreciate everyone interest and we went over today, so we’re happy to always try to be available, which of course we’ll continue to be as we go forward. Really pleased with our performance. Look forward to meeting and seeing a lot of you if you’re at the upcoming TD Securities Conference as well as the Roth Conference, both of which are in California in the next handful of weeks. So, we hope that you reach out to your representatives and we have a chance to sit down and catch up. We look forward to speaking with everyone again when we release our first quarter results in May. So, with that, I’ll just thank everybody for their time and their interest, and we look forward to speaking with you soon. Take care.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
