Oleg Khaykin: Well, I mean the, the standard customer, there’s also some industrial customers in that space. I’d say, the main customer is the main customer.
Alexander Henderson: If we could go to the income statement, you talked about the $30 million in cost savings coming out earlier in the year is as we look at the $118 million in OpEx in the quarter, is that the right level that we should be anticipating in the December quarter, or will it step up because of commissions? And if it’s not going to have a seasonal decline in the March quarter, is that again the right level for the March quarter?
Oleg Khaykin: So, this is $118 million is about on the lower end side. So, in the December quarter, as I said, we actually have a — it is one of these things, you don’t get the revenue, you get bookings, so there’s a significant step up in bookings. So, a big chunk of that $4 million increased guidance for December quarter is the commissions on bookings on the revenue that’ll likely land in the March quarter. And in the March quarter, it would be roughly, we expect to be about the same level as December, but for different reason, it’s more of statutory accruals that you do beginning of the year, the FICA and all that stuff. And then by the June quarter, we expect it to come down a bit somewhat. So, I’d say during the year you’re kind of looking between $118 million to $122 million is the range depending on the quarter.
Operator: The next question comes from the line of Meta Marshall with Morgan Stanley. You may proceed.
Unidentified Analyst: This is Karan on Meta Marshall. I guess just on the telecom side and service provider side, just regionally, I know you mentioned that North America is weaker and areas like Europe is a little bit stronger. Is there anything you’d call out on this quarter in terms of trends beyond that? And I guess do you expect sort of Europe to revert back to North American trends or do you expect them to continue to outgrow and outperform?
Oleg Khaykin: Well, I mean, I’d say, telecom globally is weaker, but the difference is are you on life support or you are working wounded? And I would say relatively speaking, Europe is doing probably the best. Latin America actually continues to be fairly resilient. Asia is doing pretty well. It’s North America is really the area that’s struggling quite a bit. And I think a lot of it is driven by the heavy debt load that North American service providers are carrying. But generally, we’ve seen pullback across the world less the least in Europe than I would say, Asia than Latin America, roughly on par. And then North America is the most impacted.
Unidentified Analyst: Okay, thank you. That makes sense. And then sort of on the currency side of your business, just given sort of the headwinds you outlined, are there any changes to maybe high level how you look at the run rate of that business? Has that come down a little bit or do you sort of expect it to revert back as sort of demand normalizes?
Oleg Khaykin: I think, we expect the core business to be on the lower end of the $50 million range per quarter.
Operator: [Operator Instructions]. There are currently no further questions in the queue, so I’ll now turn the line back to the team for any closing or additional remarks.
Pam Avent: Thank you. I think with that, we can end the call.
Operator: That concludes the conference call. Thank you for your participation. You may now disconnect your line.
