SEGMENT REPORTING (Tables)

6 Months Ended

Sep. 30, 2023

Segment Reporting Information, by Reportable Segment

The following table provides reportable segment information (in thousands):

	Three Months Ended					Six Months Ended
	September 30,					September 30,
	2023		2022			2023		2022

Net sales
Product	$	500,937	$	406,317		$	999,103	$	791,993
Professional services		38,270		38,050			73,826		75,218
Managed services		32,732		27,111			64,695		53,052
Financing		15,672		22,228			24,162		31,802
Total		587,611		493,706			1,161,786		952,065

Gross profit
Product		104,749		94,389			216,140		177,557
Professional services		15,796		14,697			30,520		29,752
Managed services		10,194		7,189			19,991		14,617
Financing		13,626		17,029			19,987		24,901
Total		144,365		133,304			286,638		246,827

Operating expenses
Technology business		94,856		84,372			187,270		160,804
Financing		4,646		4,825			8,173		8,733
Total		99,502		89,197			195,443		169,537

Operating income
Technology business		35,883		31,903			79,381		61,122
Financing		8,980		12,204			11,814		16,168
Total		44,863		44,107			91,195		77,290

Other income (expense), net		117		(3,866	)		307		(6,019	)

Earnings before tax	$	44,980	$	40,241		$	91,502	$	71,271

Depreciation and amortization
Technology business	$	5,602	$	3,540		$	10,366	$	6,722
Financing		28		28			56		56
Total	$	5,630	$	3,568		$	10,422	$	6,778

Interest and financing costs
Technology business	$	661	$	671		$	1,211	$	809
Financing		559		254			860		479
Total	$	1,220	$	925		$	2,071	$	1,288

Selected Financial Data - Statement of Cash Flow

Purchases of property, equipment, and operating lease equipment
Technology business	$	1,904	$	611		$	4,689	$	1,897
Financing		6		22			919		513
Total	$	1,910	$	633		$	5,608	$	2,410

Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers [Table Text Block]

The following tables provide a disaggregation of net sales by source and further disaggregate our revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands):

	Three months ended September 30, 2023
	Product		Professional Services		Managed Services		Financing		Total

Net Sales
Contracts with customers	$	496,065	$	38,270	$	32,732	$	2,835	$	569,902
Financing and other		4,872		-		-		12,837		17,709
Total	$	500,937	$	38,270	$	32,732	$	15,672	$	587,611

Timing and position as principal or agent
Transferred at a point in time as principal	$	442,278	$	-	$	-	$	2,835	$	445,113
Transferred at a point in time as agent		53,787		-		-		-		53,787
Transferred over time as principal		-		38,270		32,732		-		71,002
Total revenue from contracts with customers	$	496,065	$	38,270	$	32,732	$	2,835	$	569,902

	Six months ended September 30, 2023
	Product		Professional Services		Managed Services		Financing		Total

Net Sales
Contracts with customers	$	986,608	$	73,826	$	64,695	$	4,125	$	1,129,254
Financing and other		12,495		-		-		20,037		32,532
Total	$	999,103	$	73,826	$	64,695	$	24,162	$	1,161,786

Timing and position as principal or agent
Transferred at a point in time as principal	$	894,660	$	-	$	-	$	4,125	$	898,785
Transferred at a point in time as agent		91,948		-		-		-		91,948
Transferred over time as principal		-		73,826		64,695		-		138,521
Total revenue from contracts with customers	$	986,608	$	73,826	$	64,695	$	4,125	$	1,129,254

	Three months ended September 30, 2022
	Product		Professional Services		Managed Services		Financing		Total

Net Sales
Contracts with customers	$	401,811	$	38,050	$	27,111	$	6,923	$	473,895
Financing and other		4,506		-		-		15,305		19,811
Total	$	406,317	$	38,050	$	27,111	$	22,228	$	493,706

Timing and position as principal or agent
Transferred at a point in time as principal	$	356,846	$	-	$	-	$	6,923	$	363,769
Transferred at a point in time as agent		44,965		-		-		-		44,965
Transferred over time as principal		-		38,050		27,111		-		65,161
Total revenue from contracts with customers	$	401,811	$	38,050	$	27,111	$	6,923	$	473,895

	Six months ended September 30, 2022
	Product		Professional Services		Managed Services		Financing		Total

Net Sales
Contracts with customers	$	782,503	$	75,218	$	53,052	$	7,868	$	918,641
Financing and other		9,490		-		-		23,934		33,424
Total	$	791,993	$	75,218	$	53,052	$	31,802	$	952,065

Timing and position as principal or agent
Transferred at a point in time as principal	$	692,559	$	-	$	-	$	7,868	$	700,427
Transferred at a point in time as agent		89,944		-		-		-		89,944
Transferred over time as principal		-		75,218		53,052		-		128,270
Total revenue from contracts with customers	$	782,503	$	75,218	$	53,052	$	7,868	$	918,641

Technology Segment Disaggregation of Revenue

The following table provides a disaggregation of our revenue from contracts with customers for our technology business by customer end market and by type (in thousands):

	Three Months Ended September 30,						Six Months Ended September 30
	2023			2022			2023			2022
Customer end market:
Telecom, Media & Entertainment	$	124,306		$	118,454		$	265,641		$	246,731
Technology		110,948			96,160			184,351			166,021
State and local government and educational institutions		94,906			70,491			204,311			135,092
Healthcare		72,022			66,959			158,678			135,471
Financial Services		69,885			37,611			135,575			70,910
All others		99,872			81,803			189,068			166,038
Net sales		571,939			471,478			1,137,624			920,263
Less: Revenue from financing and other		(4,872	)		(4,506	)		(12,495	)		(9,490	)
Revenue from contracts with customers	$	567,067		$	466,972		$	1,125,129		$	910,773

Type:
Product
Networking	$	268,636		$	165,896		$	513,824		$	308,537
Cloud		135,068			148,992			307,112			313,725
Security		51,886			48,517			97,682			96,512
Collaboration		27,083			19,187			40,039			32,167
Other		18,264			23,725			40,446			41,052
Total product		500,937			406,317			999,103			791,993

Professional services		38,270			38,050			73,826			75,218
Managed services		32,732			27,111			64,695			53,052
Net sales		571,939			471,478			1,137,624			920,263
Less: Revenue from financing and other		(4,872	)		(4,506	)		(12,495	)		(9,490	)
Revenue from contracts with customers	$	567,067		$	466,972		$	1,125,129		$	910,773