Dave Sylvester: Well, I mean, I do like — it’s not on the income statements, it’s on the cash flow, I’ll go back to my comments about our inventory reductions and DSO improvement on receivables. We feel pretty good about how we’re managing liquidity and have access to — full access to our credit facility. I like where our leverage metrics are. They’re back within policy range. We’re below kind of thresholds that the rating agencies like to see you operate below. So I mean, those types of things I feel very good about. You don’t necessarily see the direct correlation quarter-to-quarter about the operational efficiencies that we’re driving or all of the project activity behind the gross margin improvement work that Bob Krestakos and his team are driving.
But Sara and I see that at least monthly, often twice a month, and get a sense of how we’re progressing against the multiple projects that aren’t showing up in today’s income statement, but we believe will show up in future income statements.
Steven Ramsey: Great. Thank you.
Operator: And your next question comes from the line of Budd Bugatch from Water Tower Research. Your line is open.
Budd Bugatch: Good morning. Most of my questions have been asked. But first, congratulations on a very good performance in the first quarter.
Dave Sylvester: Thank you, Budd.
Budd Bugatch: I guess I just want to hit on the one thing that, Sara, you talked about the win rate in the release, and it’s been asked several different times on the call, but I haven’t really heard term — any response about the sales cycle, which we know that the activity level had been high with people and conversations, but one thing that had been talked about over the last couple of months had been that sales cycle was extended. So, are we seeing any shrinking in that — in the length of the sales cycle from beginning to end?
Mike O’Meara: Hey, Budd, just to clarify, are you talking about, like, customer decision making processes that slowing of the sales cycle? Is that…
Budd Bugatch: Yes, Mike. Exactly. Yes, from — when you’re starting, had those conversations or one of the things that’s been talked about was — people were having those conversations, but they, in fact — some were putting — pushing the [out in the] (ph) future the actual initiation of the order. So…
Sara Armbruster: Yes. I don’t know that I can give you a really definitive kind of quantified answer, but I would say kind of building on my comments about NeoCon, I think we definitely see kind of relatively speaking more customers that have firm plans to make changes of some sort. They either know they’re moving or they’re expanding or they’re renovating or they’re doing something. So I think from that standpoint, we kind of — we see customers maybe not dragging out the process or hemming in high, and I think we see more people who have clear plans and timelines and intent to take action. Maybe one thing that is still a bit variable is still, I think, some customers are having challenges with construction schedule due to the lack of tradespeople or other factors that are maybe slowing their project timeline relative to what they intended.
But, again, there, I don’t know that we’re seeing anything that’s dramatically different than what we’ve seen. I mean, we’re used to managing through those kinds of things when they happen. So, I don’t know that we’re seeing anything that is dramatic or unusual.
Dave Sylvester: Yes. Positive anecdote here and there, but not necessarily enough to call it a new trend. I mean, hearing from customers at NeoCon that acknowledge or that they regret having slowed down or paused some activity over the last 18 months because now they’re feeling the pressure of being behind as they’re bringing people back to the office. That’s certainly positive, but we’re not hearing that enough to call that a kind of a major shift or a trend.
