Richard Ryan: A question on the guidance. In the slide deck it shows virtually all the revenue you’re guiding to is already covered by what’s in backlog and expected to be delivered. You have this vulnerability with space customer that doesn’t appear to be included in that. Any other vulnerable areas within your backlog? And maybe the contrary, or the complimentary question there would be, what could happen on the turn side of the business so that somebody could look at this and say, hey, there was upside to what you’re currently guided?
Chris Thome: Yes, Rich, very good observation on your part. Like other companies, we’re still seeing pressures, as Dan just talked about a little bit on the supply chain side as well as the labor side. Although we have seen these conditions improve, they’re still not where they were — where we were pre-COVID. So, really as you point out, we have the backlog, it just comes down to execution. So it really just comes to our team continuing to perform, and risks outside our control, such as supply chain and labor.
Richard Ryan: Okay. Chris, as a follow on, looking at the year, you’ve got some delivery on the remaining two first articles during Q1 and Q2, but how should we look at the kind of the top line? How should the revenue line flow as we look at fiscal ’24? Any other seasonality, or as you at look at projects, how should we kind of model the revenue growth for 24?
Chris Thome: Sure. As you know, Rich, we really don’t have a lot of seasonality in our business. Our fourth quarter does, at times tend to be a little bit higher as our teams are working to hit the goals for the year. So we don’t see a lot of seasonality built into our guidance.
Richard Ryan: Okay. Again on the aftermarket and the refining, petrochem side, your large installed base kind of drives that aftermarket business. But you indicate or you said that that could be a leading indicator down the road. What does new projects in the refining and petrochem space look like either domestically or you’ve had some interest and expansion in China and India?
Dan Thoren: Yes. So domestically it is picking up. We are seeing inquiry rates and opportunities domestically continue to grow. So it has been just horribly slow coming back domestically. But we’re certainly seeing that coming back. As you noted earlier, we’ve kind of got our year already booked and Chris indicated that it’s all up to us to execute it. So if it doesn’t come back as strongly as our pipeline that’s indicated, we’ve got plenty of work domestically for our crew here. What we’re seeing internationally is China has opened up after their COVID shutdown, but it’s a slow reopening. So we are seeing an increased level of requests to quotes on different programs. And then we are quoting on those, how fast it comes back, not entirely clear.
But as it comes back, we’ll start to see more orders in the second half of the year. That — that’s to build in to our fiscal 2025. India, we’ve got several different bids that are out there that are close to being announced. And so we’re hopeful that we can continue our India presence. And then India looks like it kind of flattens out for a year, or maybe two as they go through their election process and then we fully expect that it kind of comes back on. So it’s really interesting to kind of follow all of these different markets, they’re all in kind of different places. And so the ability to be flexible and be able to move with the market is something that the diversification that Graham has really been able to build over the last 2 years, provides a ton of value.
