Operator: Our next question comes from the line of Alan Mitrani with Sylvan Lake Asset Management.
Alan Mitrani: The story here has been a recovery from really what was the worst margins in your history last year and you’re comping against probably the worst quarter, this coming quarter. And you haven’t made it back anywhere close to where margins were years ago, even just 5, 6, 7 years ago, we know there’s the Verizon impact on the industry, has hurt you as well which should be finished, as you said, basically by the end of the year. But can you talk about the prospect of margin expansion regardless of where revenues are?
Steven Nielsen: Well, clearly, Alan, we have talked about the impact of this large customer program. And so getting that out of the way certainly is helpful. I think the other thing, as we’ve always said, is to continue to get a broad distribution of growth, the public capital coming into the market this year or the next calendar year, certainly is helpful. I think it’s also helpful when we see customers that have large, announced growth plans where we’re in — where we’ve already got existing facilities so that we can get operating leverage initially rather than having to go through the start-up phase from a facilities perspective. So I think as we said earlier, there’s always work to do. But we are encouraged that some of the headwinds that we’ve had to deal with are dissipating, offset in part by what’s going on in the overall economy with respect to inflation.
Alan Mitrani: Right. But you start comping a lot easier comps on gas prices this coming year. So that should be…
Steven Nielsen: here in the October quarter, it was about a 20 basis point headwind. So that gets better but labor costs more, equipment costs more. So there’s certainly — there are certainly other cost elements where we’re still working hard to manage their effect.
Alan Mitrani: Are you finding that industry capacity is constrained in general, given you’re one of the larger players and it’s costing you more. It’s clearly costing some of the smaller players with a lot more without access to capital. And I’m assuming that the customers understand that as well and you’re getting some pricing to offset that? It’s still going to have a in 12 to 18 months?
Steven Nielsen: I mean, we’re not going to talk any specifics about customers other than to say is we are encouraged with the continued dialogue that we’re having, that we make sure that we identify those opportunities where we can perform best for the customer. And if we perform well for them, then we’ll have opportunities to have good returns for investors.
Operator: And I’m showing no further questions at this time. And I’d like to turn the conference back over to Steven Nielsen for any further remarks.
Steven Nielsen: Well, we thank everybody for your time and attendance. Wish you a good holiday and we’ll talk to you at the end of February. Thank you.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect. Everyone, have a great day.
