SEGMENT REPORTING

9 Months Ended

Dec. 31, 2016

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

14. SEGMENT REPORTING

Our operations are conducted through two operating segments that are also both reportable segments. Our technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and our proprietary software to commercial enterprises, state and local governments, and government contractors. Our financing segment consists of the financing of IT equipment, software and related services to commercial enterprises, state and local governments, and government contractors. We measure the performance of the segments based on operating income. Our reportable segment information was as follows (in thousands):

	Three Months Ended
	December 31, 2016							December 31, 2015
	Technology		Financing			Total		Technology		Financing			Total
Sales of product and services	$	317,391	$	-		$	317,391	$	287,859	$	-		$	287,859
Financing revenue		-		8,190			8,190		-		9,289			9,289
Fee and other income		915		161			1,076		1,506		(10	)		1,496
Net sales		318,306		8,351			326,657		289,365		9,279			298,644
Cost of sales, product and services		251,729		-			251,729		231,503		-			231,503
Direct lease costs		-		1,142			1,142		-		3,081			3,081
Cost of sales		251,729		1,142			252,871		231,503		3,081			234,584
Professional and other fees		1,216		181			1,397		1,608		274			1,882
Salaries and benefits		40,155		2,230			42,385		35,043		2,329			37,372
General and administrative expenses		6,409		(31	)		6,378		5,203		231			5,434
Depreciation and amortization		1,908		2			1,910		1,327		4			1,331
Interest and financing costs		-		409			409		10		386			396
Operating expenses		49,688		2,791			52,479		43,191		3,224			46,415
Operating income	$	16,889	$	4,418		$	21,307	$	14,671	$	2,974		$	17,645
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	1,941	$	985		$	2,926	$	1,365	$	3,152		$	4,517
Purchases of property, equipment and operating lease equipment	$	849	$	3,282		$	4,131	$	506	$	884		$	1,390
Selected Financial Data - Balance Sheet
Total assets	$	546,728	$	189,950		$	736,678	$	401,422	$	229,012		$	630,434

	Nine Months Ended
	December 31, 2016						December 31, 2015
Statement of Operations	Technology		Financing		Total		Technology		Financing		Total
Sales of product and services	$	968,799	$	-	$	968,799	$	871,814	$	-	$	871,814
Financing revenue		-		23,899		23,899		-		27,914		27,914
Fee and other income		3,679		245		3,924		5,038		30		5,068
Net sales		972,478		24,144		996,622		876,852		27,944		904,796
Cost of sales, product and services		769,780		-		769,780		700,429		-		700,429
Direct lease costs		-		3,459		3,459		-		9,256		9,256
Cost of sales		769,780		3,459		773,239		700,429		9,256		709,685
Professional and other fees		4,138		780		4,918		4,175		738		4,913
Salaries and benefits		117,822		6,657		124,479		101,471		6,855		108,326
General and administrative expenses		19,335		1,089		20,424		16,653		737		17,390
Depreciation and amortization		5,400		8		5,408		3,728		11		3,739
Interest and financing costs		-		1,158		1,158		51		1,320		1,371
Operating expenses		146,695		9,692		156,387		126,078		9,661		135,739
Operating income	$	56,003	$	10,993	$	66,996	$	50,345	$	9,027	$	59,372
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	5,494	$	3,264	$	8,758	$	3,831	$	9,189	$	13,020
Purchases of property, equipment and operating lease equipment	$	2,413	$	4,887	$	7,300	$	1,700	$	15,308	$	17,008
Selected Financial Data - Balance Sheet
Total assets	$	546,728	$	189,950	$	736,678	$	401,422	$	229,012	$	630,434

The total of the reportable segments’ measure of profit or loss excludes other income of $380 thousand for the nine months ended December 31, 2016, which is included in the consolidated earnings before tax but is not allocated to the segments.

On July 25, 2016, the Company announced its appointment of a new Chief Executive Officer and President effective August 1, 2016. We are currently evaluating the impact of this changeto the determination of our reportable segments.