Okay, and then not to beat a dead horse that you don’t want to get on, the margin, I understood you don’t want to sort of commit to a long-term margin and understood that you don’t want to commit to a short-term margin although you actually did give some guidance around that. Can we assume that the long-term direction is up given the positive operating leverage in the business model?

David J. Parrin

I think that the focus there is the various things that we have right that over time we would expect to certainly improve that whether it’s how we’re looking at some of the investments today, our expansion in our retail businesses in France and Germany and if those continue to grow. So, those will all have positive impacts overtime and I think the leverage that we have in the platform and the various operating aspects of the platform will help that expand over time. But, I think we’re really not in a position to put any number to that expansion. Tony, do you want to add any more to that?

Anthony P. Ryan

I think the margins are going to be affected obviously by top line growth. They’re going to be affected by our investment back in to the business model for long-term growth and they’re going to be affected by leverage points we have in our cost structure and I tried to hit those earlier in the areas of commissions, marketing, our salaries and benefits with people in the regional offices and then also this common point of sale platform across our retail locations. This whole long-term leverage points we believe will help us from a margin standpoint but obviously we have to balance that against our top line growth and also the investment back in to the core business model.

Michael Cohen – Sunova Capital

Okay and where’s CapEx running or where would you expect CapEx to run on a sort of normalized rolling 12 month basis?

David J. Parrin

This quarter I think it was roughly $9 million, about $9 million. That can vary from quarter-to-quarter because we do have signing bonuses that we pay but right now we have certainly very adequate cash flows to handle that CapEx.

Michael Cohen – Sunova Capital

Absolutely, I’m just trying to gage is $9 million representative or is $9 million low or is $9 million high? What’s a normalized level?

Anthony P. Ryan

If you take away, we’re about $27 million year-to-date. So we’re in that same range if you take the $9 and multiply it by three so that’s pretty consistent. I would say though in the fourth quarter we have a big network roll out with CVS with Cardtronics, the going places locations and so forth and so there will be additional capital expenditures as we support the roll out of those very important network additions.

David J. Parrin

That does not include our signing bonuses that Tony was just talking about.

Michael Cohen – Sunova Capital

How much would it be if you included signing bonuses?

David J. Parrin

Well, going forward I’m not going to forecast that but you can get a sense if you look at the EBITDA calculation of those signing bonuses those agreements typically run in three to five years. So you can get an idea and, we amortize them over those periods of time.

Anthony P. Ryan