Jim Sidoti: Okay. Alright. Yes. Well. That’s good. And my next question was related to valvulotome. Last quarter, you said you had a bit of an air pocket there. Did that come back to normal levels in the fourth quarter?
George LeMaitre: Yes. So yes, that’s right. Great memory there. Yes. I think we called it an air pocket on the call, but I wasn’t on, and then it was up 20% into Q4 sequentially. And better news here is that it feels nice in the start of Q1. So yes, all repaired, everything is fine. It’s better than fine.
Jim Sidoti: Okay. Last two for me. The guidance implies a pickup in other income seems to me. Is that just the growing cash balance and the better interest rates?
J.J. Pellegrino: Pick up on other income. Let’s see. I can tell you, Jim, down below op income there is two larger drivers. One is interest income, which has been improving for us. And so maybe there is a little bit of a pickup there. And then in the other, there is FX related to intercompany transactions and other items and so, given the swings in FX, that’s had an impact there as well.
Jim Sidoti: Okay. And then last one for me is on maybe PP&E, property and equipment that started off the year at around $17 million. It dipped down to around $15 million in the third quarter. It’s back up to $18 million now. Is that the new equipment and the expanded capacity in Burlington, or what’s the driving there?
J.J. Pellegrino: Yes. I mean we have been €“ in the last quarter, Q4, we spent $1.2 million on CapEx. We have been spending on the expanded clean room that we talked about, which is significant, but yes, that’s probably a big piece of it too. And I am trying to think of other larger cap.
George LeMaitre: In the neighborhood of $3 million or $4 million, though, I don’t €“ were you saying numbers like $18 million, Jim, I would hate to have people walk away thinking that because that’s not
Jim Sidoti: No. You ended the year with $80 million total on property and equipment.
J.J. Pellegrino: I mean I can get back to you with the pieces of that, Jim, but I am going to guess clean room build-out as a big piece of that answer.
Jim Sidoti: So, it feels like you have the people and the capacity in place now so that if demand does continue to grow, you can handle it without any major investments?
J.J. Pellegrino: Yes. I mean I think we feel like we are happy already unit growth is positive. And so we are glad we have it. We know we are the no backorder company. And so we have had spikes in sort of peaks and valleys and different unit growth areas, and we have been able to cover those because of the expanded clean room and the expanded size of the manufacturing folks, anything around regulatory issues that gets a little hairy sometimes. Those can be covered up with a little bit more inventory made by more folks. So, I think strategically, not financially necessarily purely, but strategically, it’s been a really nice answer for us that expansion.
Jim Sidoti: So, if you look back 4 years or 5 years, you guys are north of 20% on the operating margin. And I know you are not going to get there this year, but do you think at some point in the next 2 years or 3 years if the revenue grows now that you have this infrastructure in place, you can get close to that 20% again?
