Jeff Grampp: Understood. That makes sense. And maybe for John, on the working capital inventory side of things, I know you mentioned that will be a tailwind for you guys, at least in the first half of the year. Any kind of, I guess, ballpark estimate for how much excess inventory you guys think you were carrying? Just, I guess, trying to get a sense of materiality of that for you guys.
John Marchetti: Sure. I mean we worked through some of that through the second half of last year, to be fair. And I think we’ve got another sort of similar cut to that revenue or excuse me, to that inventory revenue levels over the next, like I said, through the March and certainly through the June quarter. I think when all is said and done, looking at from where we sort of ended the year in 2023, we can probably take another $7 million, $8 million off of that number, maybe a little bit more as we go through the first half of 2024. We continue to be pretty aggressive in working back cutting back on some of the safety stock levels that we had built up and particularly in front of the Keystone relationship where we were on being installed as a standard install.
So we really were trying to protect ourselves from any shortages there. I think overall, the supply chain that we’ve been working with for a number of years has gotten very, very predictable. So we feel comfortable working that down to where we’re only really holding, say, a quarter’s worth of inventory of key goods where in the past, that was certainly six months and in some cases, even as high as nine as we were coming through the effects of COVID. So I think we’re in a position now to work that down to much more reasonable levels and then kind of maintain that on a more steady state basis, certainly as we look through 2024.
Jeff Grampp: Okay. Great. Appreciate those details. Thank you guys for the time.
Operator: Thank you. Your next question is from Brian Dobson from Chardan Capital Markets. Please ask your question.
Brian Dobson: Thanks very much. Just a quick follow-up on the RV market. You mentioned that it is bottoming and you called out a couple of factors as to why that is. Do you think that could be described as a back half catalyst for 2024 or is it too soon at this point?
John Marchetti: I would say, Brian, I think it can be a catalyst. I’m just not sure yet of the magnitude of that catalyst. I guess the best way that I could describe that. Denis mentioned, we feel very, very comfortable, certainly calling the bottom here, but I think the slope of the recovery, if you will is still a little bit too early, I think, to where we’re comfortable calling that. I do feel good about the fact that we will have some new programs that come on in the second half of the year. As I mentioned, the RV model year starts in July. Some of those programs that we have on won, won’t start until we get to the second half of the year. So I do feel pretty good that we should see that half-on-half growth. But how large that growth is, I think it’s still a little too early for us to call.
Brian Dobson: Yeah, very good. It certainly a step in the right direction now.
John Marchetti: Yes. We were encouraged by what we’ve seen early on here.
Operator: Thank you. There are no further questions at this time. Please proceed.
Denis Phares: Thank you for everyone joining us today. We look forward to sharing additional details with all of you in the coming quarters. Have a great day.
John Marchetti: Thank you.
Operator: Thank you. Ladies and gentlemen, the conference has now ended. Thank you all for joining. You may all disconnect.
