Jim Sidoti: And then on the balance sheet a couple of questions. First one, PP&E is up about $5 million from the June quarter. Is that the investments to increase capacity, or what else is in there?
Sam Maheshwari: Jim it was mostly lumpiness in terms of when the payments go out and stuff like that. If you remember last year, we had highlighted to you that this fiscal year in 2022 that we just completed, we are looking at CapEx of around $25 million, but it was not straight line throughout — through every quarter of fiscal 2022. But overall, we came out a little bit — we ended fiscal 2022, with around $21 million $22 million. So we were — we did not spend as much CapEx as we had hoped to, partly because of supply chain and continued delays from equipment providers. So we were not able to execute all the CapEx plans that we had planned to complete in 2022. In 2023, we will be higher than $25 million. We just have to see how — what kind of progress, we are able to make in a number of — make in terms of a number of initiatives that we have for us.
Mostly, these are growth initiatives in terms of adding new machines or adding higher productivity machines and mostly around our tube factory.
Jim Sidoti: All right. And then just a quick one, on cash. You reported in your presentation $113 million in cash and equivalents. You’re always showing $89 million on the balance sheet. So is that other $24 million in other assets?
Sam Maheshwari: Yes. Jim, thanks a lot for asking that question. Yes. So our cash is really $113 million, but one of the GAAP rules for presenting cash on the balance sheet is that any investments say in fixed deposits or CDs or other securities that we do, which is more than 90 days then we need to present it elsewhere in the balance sheet. Given the interest rate environment obviously, we want to generate some interest income from our cash portfolio. So the balance sheet presented cash is $89 million. But once you add, all the other call it securities or fixed deposits and stuff like that that we have invested in commercial paper and all of that added up, that’s $113 million. So from my perspective I look at it, as $113 million.
Jim Sidoti: Understood. Thank you.
Sam Maheshwari: Thanks, Jim.
Operator: Thank you. We reached the end of our question-and-answer session. I’d like to turn the floor back over to Chris, for any further or closing comments.
Christopher Belfiore: Great. Thank you for your questions. Sunny, any final comments?
Sunny Sanyal: Yes. Thank you, Chris. Look in closing, we’re very happy with the solid results, which we have posted for a consecutive year, with both top line and earnings growth. Our internal efforts to diversify our supply chain was a key enabler for these results and I’m very proud of the effort that our 2,300 employees globally make on a daily basis, to make these results possible. Going to that end, I feel that we are well positioned to grow our top line again, in fiscal 2023, in what’s expected to be a very dynamic environment. Thank you for your continued interest in Varex.
Christopher Belfiore: Thank you, Sunny. Thank you all for participating in our earnings conference call for the fourth quarter of fiscal year 2022. The webcast and supplemental slide presentation will be archived on Varex’ website. A replay of the quarterly conference call will be available through November 29 and can be accessed at the company’s website or by calling 877-660-6853 from anywhere in the US or 201-612-7415 from non-US locations. The replay conference call access code is 13733761. Thank you and goodbye.
Operator: Thank you. You may now disconnect your lines.
