George LeMaitre: Maybe I’ll answer a little bit more generally and just talk about op expense in general because the heart of the op expense growth is the sales force growth. We feel like last year, I don’t know employees were up 31%, reps were up 27%. GL is up 54%. We really went not crazy, but we went to the mat to fix all kinds of issues around here. But I think we’re all committed inside the building of, hey, that was a special year, and you can’t let op expenses grow as much as we did last year. So we’re putting some kind of a clamp on ourselves of $625 as the max employees at the company this year. And I think that will help start to drive operating leverage. I think we used to have operating leverage. And over the last 2 or 3 years, we sort of lost that leverage. And I think we’re trying to find it back by limiting our growth of headcount. And hopefully, at some point, the op expenses grow less than the gross profit grows and we get some leverage.
J.J. Pellegrino: I think I had said in my script, that op expense grew about 15% or 16% last year. We’re looking at closer to 10% or 11% this year, and you can do the same thing we just did with gross margin, look at the Q1 OpEx sort of guidance that you can impute with the year full year and then sort of assume a cadence throughout the year to get there.
Unidentified Analyst: Thanks.
Operator: Thank you. Our next question comes from Michael Petusky of Barrington Research. Your line is now open.
George LeMaitre: Mike how you doing it’s George in Burlington.
Michael Petusky: I’m sorry, am I on?
Operator: You are.
Michael Petusky: Sorry, I did not hear who was supposed to be on. Sorry, I apologize. Great. Okay. 5th call today. So if I’m asking something that’s been already asked and answer forget, update on M&A pipeline. Any commentary there or anything to say?
Dave Roberts: Yes. Hey Mike it’s Dave. I would say no real update. We continue to be focused on devices, product lines, companies in the open vascular surgery field with disposables and implantables, over $5 million or $10 million of revenue. There are probably 2 to 3 dozen legit targets, and we’re in touch with them. We like niche low-rate market. So moral hunting, we’ve sort of expanded the target area a little bit. We’re looking a little bit in cardiac surgery, a little bit in endovascular as well. But I don’t think I have anything really material to report. Obviously, the cash balance is growing. So we can do larger deals, and we are looking, I would say, on the margin at larger targets these days. So we’re out hunting, but I don’t have anything to report. We didn’t just sign a deal that I’m reporting on today.
Michael Petusky: So can I just ask on €“ obviously, it’s been a while since it’s sort of the needle moving hard graph. Have you gotten down a track with any like meaningful, what I would say, more meaningful assets where just ultimately either something in the product…
Dave Roberts: Yes. If I understand the question correctly, yes, I mean, we have evaluated. We have made bids on assets of a reasonable size. I can think of a couple in particular that neither one of them transacted. So they are still out there and they didn’t happen for various reasons. So we are looking, but we just haven’t found anything with, what I’d say, a perfectly willing seller at a reasonable price. And so our feeling is, let’s just wait for our pitch and find something that’s right and we will pull the trigger when that happens.
