Eric Starkloff: Yes, I’ll just give overall kind of color on that, Damian. And a lot of it is – we shared the specific quarter numbers in Q4, and I think that’s a pretty good guide other than I mentioned the ADG one was a little bit of an outlier, because we had this big compare with a big order in the previous year-over-year quarter in Q1, 2021. So in general, it’s similar to what we expected. So semiconductor, it is our expectation that we’ll see a near-term headwind in orders. We’re seeing that and saw in Q4, for sure and that, that will persist for some time. We’re still booked by the way very bullish on the long-term opportunity within semiconductor and the opportunities we’re pursuing and the parts in the market that we’re pursuing.
We think are all very favorable, but we fully expect some near-term pressure on those orders that kind of consistent with what we’ve seen. Also in that kind of category, we said portfolio business unit is historically correlated more to the macro. Orders were down about 10% in Q4. And so again, that’s an area where we’re expecting to look at indexes like PMI. We would expect some kind of correlation and acts like a PMI with our portfolio business unit. And of course, as I mentioned in the script, we’re talking about things, and we’re certainly actioning things that will help that be more resilient over time. And then on the other side, transportation, we expect continued strong growth and that’s on a steep growth trajectory. It continues to be on a steep growth trajectory that has correlated much more with the new model entrants and electric vehicles, the investment that OEMs and others in their supply chain are making in electrification and autonomy.
We think those investments continue to be robust yes – may have seen GM’s print, and they’re still bullish on the market and their electric vehicle programs and so forth. And so, I expect that to continue to be high growth. Our expectations are high. And then ADG is continued to be a robust business for us. It’s performed well and pretty steadily in different macro environment scenarios in 2020, it was sort of high single-digits even in a pretty tough macro in 2020. And so, we think it’s a fairly favorable environment, and we expect that to continue to have a similar growth trajectory as it’s had. And so that’s our perspective on the overall color by business unit.
Damian Karas: Appreciate all that color, Eric. And then on – regarding distribution, you had spoken and previously about kind of your partner, your newer partners building out NI inventory as a tailwind this year? Just curious if that’s more or less playing out as you are – had expected or perhaps given some of the broader destocking trends across markets or maybe any of these partners paring back or deferring their inventory buildup of NI products. I guess any number that you could share around that tailwind would be helpful? Thanks.
Eric Starkloff: Yes. Yes, so it’s – they’ve built a small amount of stock in 2022, about $20 million, I believe. And then there is still their desire to build initial stock, but it’s still absolutely the desire of those partners. The reason we haven’t is because of supply, we’ve been constrained in our ability to do so. So it is still our expectation as we go through this year. That supply will ease up as we go through the year, and we will be able to provide additional stock into those partners, and that’s another one of the tailwinds when we think of the year overall that Dan referred to.
Damian Karas: Great, thank you.
Eric Starkloff: Thank you, Damian.
Operator: Thank you. I’m showing no further questions at this time. I’d like to turn the call back over to Eric Starkloff for any closing remarks.
Eric Starkloff: Okay. I really appreciate everyone’s interest and your questions today. Thank you all, and have a great afternoon.
Operator: Thank you. Ladies and gentlemen, this does conclude today’s conference. Thank you all for participating. You may now disconnect. Have a great day.
