So that should allow us to get ourselves back closer to a norm without supply chain challenges, at least during the second half of this fiscal year, which will help again for the multi-axis coating systems, because that is — the orders intake on multi-axis coating systems has not slowed. It’s actually grown. It’s just our ability to ship the machines which makes it appear like it was a slower year in FY 2023.
Ted Jackson: Then just on the fluxing systems, I mean, you talked about how you’re going through kind of an upgrade process, if you would. I mean, you put up the strongest numbers that you’ve seen in that area since fiscal 2019. Is that something that is sustainable? I mean, is that like the strength you’ve seen in that business as you go through this upgrade and the movement of a lot of manufacturing out of China towards Mexico, U.S., is that something that we should continue to see in 2024 or is it the kind of thing that will fade, and we’ll go back towards kind of the numbers that we’ve seen, like say from 2020 through 2022?
Stephen Harshbarger: Yes. I would predict the fluxing area to remain stable for us. I don’t think it’s going to go down, but it’s not going to show huge massive increases. It’s not where like government sectors are really investing or anything like that. But what has been significant for us there is these customers that are moving from China back to Mexico, in particular, even more so than the U.S., they may already have systems in China, but they don’t send those machines back to the U.S. The machines are only valued between $25,000 to $50,000 and it’s not really worth them to send back a used machine to Mexico. So they buy new machines. And the great thing about our latest platform system in the fluxing area, the SonoFlux X2, it’s about 40% higher priced than our traditional spray fluxers.
So part of what you’re seeing there with increased fluxing revenue is the increasing — increased ASP of our fluxing platforms as well. There’s a good reason why they haven’t increased ASP because they reduce your flux by a lot more compared to our old systems, and they have a lot more functionality. So customers that have tried them and said, oh wow, this is really worth upgrading our own fluxing system that we have from Sono-Tek already to our new Sono-Tek machine.
Ted Jackson: Shifting over to the income statement and just on the OpEx side, so we’ve got all this wind in your sails. I mean, is there any — I mean, how should we think about your operating expenditures in 2024? Are there any serious investments that need to be made in your sales and marketing or your R&D efforts or is that something that’s going to be more kind of steady-state, moderate growth?
Stephen Harshbarger: Yes, we did…
Ted Jackson: I guess I’m asking is, will we see some operating leverage is where I guess is where I’m going with it.
Stephen Harshbarger: Got you. We started to see some operating leverage in the prior year that I suspect, going into FY 2025 is when we’ll probably see the most leverage start to occur, that we’ve already invested quite a bit into. It’s all just been finished recently into expanding our manufacturing facility and invested those finances into that right now. So we’ve taken over one more building that we had been renting. And all the expenditures and things to renovate to be able to do production into those areas, of which now we’re starting to do has now happened. So a lot of the expenses have been completed in that area. Did you have anything else to add on that one?
