SEGMENT REPORTING (Tables)

6 Months Ended

Sep. 30, 2021

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

Our reportable segment information for the three-and six-month periods ended September 30, 2021, and 2020 are summarized in the following table (in thousands):

	Three Months Ended
	September 30, 2021							September 30, 2020
	Technology		Financing		Total			Technology		Financing		Total
Sales
Product	$	375,444	$	21,716	$	397,160		$	369,934	$	13,722	$	383,656
Service		60,857		-		60,857			49,425		-		49,425
Net sales		436,301		21,716		458,017			419,359		13,722		433,081
Cost of Sales
Product		293,837		3,792		297,629			301,006		1,957		302,963
Service		37,386		-		37,386			31,156		-		31,156
Total cost of sales		331,223		3,792		335,015			332,162		1,957		334,119
Gross Profit		105,078		17,924		123,002			87,197		11,765		98,962
Selling, general, and administrative		70,803		3,701		74,504			62,586		4,303		66,889
Depreciation and amortization		3,825		28		3,853			3,313		28		3,341
Interest and financing costs		199		143		342			1		246		247
Operating expenses		74,827		3,872		78,699			65,900		4,577		70,477
Operating income		30,251		14,052		44,303			21,297		7,188		28,485
Other income (expense)						(325	)						184
Earnings before tax					$	43,978						$	28,669
Net Sales
Contracts with customers	$	430,339	$	1,776	$	432,115		$	412,357	$	1,028	$	413,385
Financing and other		5,962		19,940		25,902			7,002		12,694		19,696
Net Sales	$	436,301	$	21,716	$	458,017		$	419,359	$	13,722	$	433,081
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	4,074	$	1,888	$	5,962		$	3,499	$	1,182	$	4,681
Purchases of property, equipment and operating lease equipment	$	948	$	8,301	$	9,249		$	990	$	-	$	990
Selected Financial Data - Balance Sheet
Total assets	$	902,070	$	237,875	$	1,139,945		$	812,633	$	226,078	$	1,038,711

	Six Months Ended
	September 30, 2021							September 30, 2020
	Technology		Financing		Total			Technology		Financing		Total
Sales
Product	$	720,210	$	38,007	$	758,217		$	663,367	$	27,529	$	690,896
Service		116,449		-		116,449			97,216		-		97,216
Net sales		836,659		38,007		874,666			760,583		27,529		788,112
Cost of Sales
Product		564,852		10,004		574,856			525,549		4,048		529,597
Service		71,296		-		71,296			60,996		-		60,996
Total cost of sales		636,148		10,004		646,152			586,545		4,048		590,593
Gross Profit		200,511		28,003		228,514			174,038		23,481		197,519
Selling, general, and administrative		136,956		6,323		143,279			128,142		8,214		136,356
Depreciation and amortization		7,723		56		7,779			6,801		56		6,857
Interest and financing costs		358		343		701			266		558		824
Operating expenses		145,037		6,722		151,759			135,209		8,828		144,037
Operating income		55,474		21,281		76,755			38,829		14,653		53,482
Other income (expense)						(202	)						282
Earnings before tax					$	76,553						$	53,764
Net Sales
Contracts with customers	$	826,880	$	7,194	$	834,074		$	746,344	$	1,988	$	748,332
Financing and other		9,779		30,813		40,592			14,239		25,541		39,780
Net Sales	$	836,659	$	38,007	$	874,666		$	760,583	$	27,529	$	788,112
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	8,177	$	3,867	$	12,044		$	7,133	$	2,327	$	9,460
Purchases of property, equipment and operating lease equipment	$	2,255	$	13,988	$	16,243		$	3,101	$	166	$	3,267
Selected Financial Data - Balance Sheet
Total assets	$	902,070	$	237,875	$	1,139,945		$	812,633	$	226,078	$	1,038,711

Technology Segment Disaggregation of Revenue

We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized for the three and six month periods ended September 30, 2021, and 2020 in the tables below (in thousands):

	Three Months Ended September 30,						Six Months Ended September 30,
	2021			2020			2021			2020
Customer end market:
Telecom, Media & Entertainment	$	115,784		$	96,927		$	227,976		$	153,579
Technology		53,752			76,321			122,892			146,288
State and local government and educational institutions		68,662			76,492			134,077			147,055
Healthcare		88,237			59,252			142,925			105,788
Financial Services		37,036			46,732			67,047			94,153
All others		72,830			63,635			141,742			113,720
Net sales		436,301			419,359			836,659			760,583
Less: Revenue from financing and other		(5,962	)		(7,002	)		(9,779	)		(14,239	)
Revenue from contracts with customers	$	430,339		$	412,357		$	826,880		$	746,344

	Three Months Ended September 30,						Six Months Ended September 30,
	2021			2020			2021			2020
Vendor
Cisco Systems	$	174,072		$	173,166		$	340,974		$	301,098
Dell / EMC		43,498			15,349			69,838			46,430
Juniper Networks		18,438			24,716			43,152			38,295
HP Inc. & HPE		14,038			16,395			31,240			33,433
Arista Networks		8,047			13,443			19,545			20,263
NetApp		29,536			9,914			39,993			25,335
All others		148,672			166,376			291,917			295,729
Net sales		436,301			419,359			836,659			760,583
Less: Revenue from financing and other		(5,962	)		(7,002	)		(9,779	)		(14,239	)
Revenue from contracts with customers	$	430,339		$	412,357		$	826,880		$	746,344