Paul Chung: Okay, thanks for that. And then just on guidance for ’23, you mentioned sequential growth in the back half. You’ve seen somewhat of a wide range of sequential growth into fiscal third quarter in the past. You’re also now facing some difficult year-on-year cost, but can you help us frame the pace of growth into the third quarter and given the visibility you have today? Thank you.
Todd Kelsey: Sure. Thanks, Paul. This is Todd. I’ll take that one. I think it’s best to maybe start out with the fact that our markets, exclusive of SemiCap, are strong right now. I mean, they’re solid and they’re very good. Healthcare, Aerospace in particular are exceptionally strong. So, when we think about our outlook for the back half, it’s not much different than it was 90 days ago. It looks pretty similar to what it did 90 days ago. We have a little bit of a blip in Q2 because of the situation with SemiCap dropping rapidly, and also the new program ramps that we’re working through right now. But we work through those and then the back half looks a lot like it did before ex the impact that we’re expecting from SemiCap, which again, could be a couple of percent.
So, when we think about sequential growth in the back half, I would say $40 million to $50 million per quarter, give or take, is what we’re thinking as we look at Q3 and Q4. So, we expect it to be meaningful. And when we add that level of revenue, that puts us in really good position to achieve our 5.5% operating margin goal as we exit the fiscal year.
Paul Chung: Oh, that’s super helpful. And then for the 5.5%, is that the pace or is that for the full year, just to be clear?
Todd Kelsey: I would call it exiting the year at this point. So, it’d be a good goal for us for Q4. I think Q3 might be a bit aggressive. Possible
Paul Chung: Great. Thank you. Very helpful.
Operator: . Our next question comes from Anja Soderstrom with Sidoti. Your line is now open.
Anja Soderstrom: Thank you for taking my questions. So, I’m just curious, where are you in the commercial air recovery?
Todd Kelsey: Yes. I would say it’s in the early stages. The demand for commercial aerospace is quite strong, but the supply has not caught up to the demand yet. So – and I’d kind of equate it to where we were at with elective healthcare or SemiCap 12 to 18 months ago.
Anja Soderstrom: Okay, thank you. And in terms of EMEA and new program wins there, it looked very strong in the presentation. Can you just elaborate on which regions within EMEA that you see strength in?
Steve Frisch: Yes, this is Steve. I can touch on this. So, we’ve got a couple of facilities over there, obviously. One is in Scotland one is in Oradea, Romania. Our facility in Romania is the one that’s benefiting the most from these wins. As I highlighted, three of the wins of the five that I highlighted were headed for Oradea. So, the team over there has just been doing an exceptional job. And quite frankly, a lot of these wins are being rewards for the execution that we had through the pandemic. So, the Oradea facility is projected for significant growth as we go through the next few quarters.
Anja Soderstrom: Okay. Thank you. That was all from me.
