But we do see, again, a strong funnel of those opportunities. And it’s across a number of geographies, which gives us some optimism.
Brian Drab : Great. And then just quickly on FieldWise, I’m looking at my notes, I can’t remember, did that deal close? And can you give us any sense for what revenue that brings so we can model inorganic and organic revenue?
Brian Ketcham: Yes, this is Brian. We haven’t disclosed the revenue. It’s small, but it’s been growing rapidly. And I guess the other thing I would say is it’s accretive to margins, fairly significantly. It’s more the traditional SaaS-type margins, but it’s a smaller business, and we haven’t disclosed what the revenue is for some of it for competitive reasons.
Operator: [Operator Instructions] The next question comes from Brett Kearney with Gabelli Funds.
Brett Kearney : With this supportive outlook over the next 5 years, I guess, how do you guys think about the cash that the business will generate. Brian, I know you mentioned opportunities continue to invest in new product development and technology. Just anything you can elaborate on that front, I guess, organically and inorganically.
Brian Ketcham: Yes. Yes. So it starts with supporting our organic growth opportunities. And we’ve talked about capital being part of that potentially capacity expansion in places like Brazil and Turkey. I think we’re also looking at really globally modernizing investments in modernization, Industry 4.0, productivity improvements in our factories. So we are anticipating in 2024 that we’re going to increase our capital expenditures. Right now, we’re estimating between $30 million and $35 million for CapEx. And then longer term, there’s — as things settle down in Ukraine, Russia, as an example, there’s opportunities for expand other geographical expansion. But then from there, M&A is clearly a priority and FieldWise is a small example of that.
But we’re actively looking at opportunities where we can leverage our capabilities and increase shareholder value through M&A, increasing our annual dividend and then share repurchase is kind of the order that we go through when we look at the capital allocation.
Operator: This concludes our question-and-answer session. I would now like to hand the call back to Mr. Randy Wood for closing remarks.
Randy Wood : Thank you all for joining today’s conference call. I’m proud of our performance for the quarter and full fiscal year, particularly our demonstrated ability to execute both operationally and commercially to deliver improved returns and strong profitability despite softer top line revenues. However, I’m more excited about the opportunities that lie ahead for Lindsay. Our leadership in irrigation technology, including our established and growing installed base and the expanding infrastructure opportunity, both domestically and globally, provide us with a unique competitive advantage as we look to capitalize on multiple sustainable growth opportunities. We look forward to updating you on our progress at the end of our fiscal ’24 first quarter. Thank you.
Operator: The conference has now concluded. Thank you for attending today’s presentation, you may now disconnect.
