Matthijs Glastra: Yes. And the thing that I would add, Rob, is that it’s very end market dynamic dependent. As Robert clearly gave a few — some color per end market, I would say medical device is very strong, right. So across the chain, not a lot of inventory, right. Industrial is different, right. So I would add that color.
Rob Mason: Okay. I think you mentioned as well you’re starting to see some green shoots in the microelectronics business. I was just curious if you could elaborate there on, what you’re seeing and maybe how that translates as you go through the year given that we were kind of flattish sequentially in the first quarter?
Matthijs Glastra: Yes, I mean, these signs are very early. I mean, we just see bookings normalization, right, and improvement there. And therefore, as some customers, not everybody, but some customers are gearing up for a better second half. But it is segment specific, customer specific, so it’s not on across the Board and that’s why we said, we see initial green shoots, right. It’s not everywhere, but you see basically for some of our businesses that above them has achieved, and you see booking sequentially improving from here, which is what you saw in the robotics and automation segment, which where the majority of our macro exposure is.
Rob Mason: Just as a last question, just I want to be clear, on the end of life of surgical displays or the exit from that, as you again continue to work with your customers on that, will there be any tail of that that carries over into 2025? Or will you should we think that that, incremental step down is complete by year-end?
Robert Buckley: Yes, most of it should be done by the second quarter. So I would say that whatever revenue we have in the back half of the year is immaterial to the total company. So we’re really stepping it down, we chip out what we could in the first quarter. We’ll step it down hard, and then it’s largely, it’s no longer in our numbers in the back half of the year for all intents and purposes.
Rob Mason: Okay. Thanks, Robert.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Mr. Matthijs Glastra for any closing remarks.
Matthijs Glastra: Thank you, operator. So to recap, Novanta had a strong start of the year. We beat expectations for sales, margins, profit and cash flows and we’re making great progress on our top priorities. This came despite some challenges and uncertainty in the end markets we serve. We also made great progress in integrating the Motion Solutions acquisitions, which will be an attractive growth platform for us. Novanta remains well positioned in the medical and advanced industrial end markets with diversified exposure to the long-term secular market trends in Robotics and Automation, Precision Medicine, minimally invasive surgery and Industry 4.0. We’re excited for the large product launches starting later this year and we will continue to focus on additional design wins in high growth applications as well as doubling down on the Novanta Growth System to drive strong cash flows and gross margin expansion.
In closing, as always, I would like to thank our customers, our employees and our shareholders for their ongoing support. I continue to be especially grateful for the dedicated efforts of all of our Novanta employees who work diligently every day, taking on new challenges and striving to make the company a great place to work. We appreciate your interest in the company and your participation in today’s call. I look forward to joining all of you in several months on our second quarter 2024 earnings call. Thank you very much. This call is now adjourned.
Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
