Chris Young: I was just wondering how big is the Dominican Republic portion versus the Europe portion? And then when the business is right sized, what do you think is kind of a run rate revenue there before you kind of start growing the revenue again?
Bob Lisy: Well, the opportunity with the U.S. business with La Nacional has always been about making it more profitable and increasing the margins. It’s never been one that we’ve talked about having great growth opportunity. We do believe we’ll grow it, it may grow slower than our core business in the U.S. The big growth opportunity with La Nacional is in their European division. We’ve always said that, and in which we haven’t talked anything about Canada, which we also have a small business in Canada. Now together, we’ll have a more formidable business in Canada that opens up. Today, they’re in the Quebec province, we’re not. So that growth will come from off U.S. shore. La Nacional in the U.S. will be our brand that drives business primarily across the eastern seaboard where most Dominicans are to the Dominican Republic.
Now, in those stores, for instance, or in our agents, we’ll offer other countries, but it’s a very, very small mix. Second largest countries, probably Colombia, but it’s not €“ it’s very, very small compared to Dominican Republic. So it really is a country €“ a company focused primarily in the U.S. to Dominican Republic. The rest of the world opens up even more countries than we even currently serve. The European business sends a lot of money to places like Morocco and Africa and in other parts of Africa, sub-Saharan Africa to Asia, to Eastern Europe. So it’s a broader business that has huge opportunity for growth over time versus the U.S. business, which is a stabilizing sort of mission in making it more profitable with more mild growth over time.
Andras Bende: And allow me to just elaborate a little bit on what’s in the guide too. As I mentioned, the guide revenue is about 85 million. From the U.S. contribution about 70 million to 75 million and Europe about 12 million. EBITDA from the U.S. about 3 million and Europe a little over 1 million. And then from a net income standpoint, about one point €“ about one to one and a half in the US and one to one and a half in Europe. In our guide and obviously that’s before we’re putting our playbook to work.
Chris Young: All right. Thanks a lot for €“ to both of you. Really appreciate the very thorough and very helpful color.
Operator: Our last question will be a follow-up from Mike Grondahl with Northland Securities. You may now go ahead.
Mike Grondahl: Hey, thanks guys for taking the follow-up. My question was just about the software and kind of hardware upgrade that you mentioned in 3Q of this year. One, kind of curious like the cost of that upgrade. And two, Bob, what are the two biggest benefits we should watch for or think about related to it?
Bob Lisy: Well, I think there’s and Chris will chime in on this because he certainly are now COO, but comes from the CIO position. But for me, there’s a number. One is that to put a new piece of equipment in the agent locations where much of the equipment is old and obsolescent and like that is a really big plus. And to increase the software quality is also a big plus. Now that’s just from an aesthetics perspective and optics. But in addition to that, it does a number of things. One is it makes it easier for them to process check direct. It’s going to make it easier for us when we roll out our GPR card at retail. It’s also enables us enhancements related to our other online activities. It makes our AML, which is important perspective better and faster and more efficient.
It makes sure that the already quality service that we have at retail not only stays at the speed it’s at, but is actually even a little faster even though the requirements for regulatory sort of behaviors are going up. So it does a lot of things to continue to put us or keep us in the forefront of the highest quality of hardware, software mix at the retail locations. The fastest in terms of processing, the highest reliability, the easiest of use that then dovetails with our world-class customer service. And that makes it, I think, very appealing for our retailers. And I’ll turn over to Chris and from a technical perspective of anything that I might have missed.
