Liron Eizenman: We are running the company in the way that we believe will generate the most value to our shareholders in the long-term and that means that we need to keep developing product. We need to keep focus on our customers. We need to make sure that we manage our cost in a way that will allow us to make the investments we need in order to achieve all of that and that’s what we’re planning to continue in doing.
Ross Taylor: How much do you see needing to invest over the next year in this effort?
Liron Eizenman: Not sure that I fully understand the question but I mean the investment that we do will be across the board. We need to develop products, we need to have sales people going and then fetching new customer, new opportunities and maintaining our customers. We need Project Managers to make sure everything runs. We need the operations people. We need to run the company and we need to invest in inventory if we need to do that. So I mean in all of those aspects when we decided on the cost savings program that we did in order to reduce our cost. We took all of that into account to make sure that we have a company that is laser focused on the areas that we define as our growth areas and any area which is not in this focus area was reduced in order to make sure that we are focused on the area that will get us to grow back again in 2025 and beyond.
Ross Taylor: Okay, and at this stage you have a lot of — you’ve had a lot of wins, you continue to put wins up. But yet what you’re seeing is you’re seeing difficulty in getting those wins to convert to revenues. Looking at that as a setup have you seen a period like this in the past in your industry?
Liron Eizenman: Well, I think that there are a few famous points in history when things went wrong. But yes, I mean the crisis and Silicom has been in business for many years. Obviously, 2008 was a tough point in time, 2001 was a tough point in time. So yes, I mean we were dealt in the past with such situations and in previous times, we did not enter into this position with $65 million in cash. But every crisis is different, every situation is different. And from here we believe that we have the right pipeline, we have the right team and we’re entering with a position that will allow us to go back to grow in 2025.
Eran Gilad: Okay, well obviously the sooner you can get investors and shareholders information on how you see things, obviously if the industry is itself opaque, it’s going to be hard to give us insight. But as I said, it seems the market right now is pretty much giving up hope in this company. And it strikes me as there’s a tremendous amount of value in this business. It’s made good money in the past. It should be able to make good money in the future. It’s just a matter of you being able to, I think convince or bring to the market the information to show us that this is an inning, not a game. So valuable pass and we’ll move forward. Thank you very much.
Ross Taylor: Thank you.
Operator: [Operator Instructions]. This concludes the question-and-answer session. Before I ask Mr. Eizenman to go ahead with his closing statement, I would like to remind participants that a replay of this call will be available by tomorrow on Silicom’s website www.silicom-usa.com. Mr. Eizenman, would you like to make your concluding statement?
Liron Eizenman: Thank you, operator. Thank you everybody for joining the call and for your interest in Silicom. We look forward to hosting you on our next call in three months’ time. Good day.
Operator: Thank you. This concludes Silicom’s third quarter 2023 results conference call. Thank you for your participation. You may go ahead and disconnect.
