SEGMENT REPORTING (Tables)

9 Months Ended

Dec. 31, 2018

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

Our reportable segment information was as follows (in thousands):

	Three Months Ended
	December 31, 2018						December 31, 2017
	Technology		Financing		Total		Technology		Financing		Total
Contracts with customers	$	329,635	$	813	$	330,448	$	330,534	$	4,523	$	335,057
Financing and other		5,076		10,140		15,216		1,527		7,641		9,168
Net sales	$	334,711	$	10,953	$	345,664	$	332,061	$	12,164	$	344,225
Cost of sales		260,738		2,013		262,751		263,917		3,620		267,537
Gross Profit		73,973		8,940		82,913		68,144		8,544		76,688
Selling, general, and administrative		56,607		3,121		59,728		53,836		3,298		57,134
Depreciation and amortization		2,714		5		2,719		2,893		1		2,894
Interest and financing costs		-		443		443		-		270		270
Operating expenses		59,321		3,569		62,890		56,729		3,569		60,298
Operating income		14,652		5,371		20,023		11,415		4,975		16,390
Other income (expense)						721						(131	)
Earnings before tax					$	20,744					$	16,259
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	2,910	$	1,564	$	4,474	$	3,157	$	1,422	$	4,579
Purchases of property, equipment and operating lease equipment	$	1,496	$	545	$	2,041	$	2,018	$	844	$	2,862
Selected Financial Data - Balance Sheet
Total assets	$	613,494	$	184,695	$	798,189	$	591,445	$	169,068	$	760,513

	Nine Months Ended
	December 31, 2018						December 31, 2017
	Technology		Financing		Total		Technology		Financing		Total
Contracts with customers	$	1,000,776	$	2,469	$	1,003,245	$	1,042,738	$	12,254	$	1,054,992
Financing and other		15,567		28,427		43,994		10,900		23,052		33,952
Net sales	$	1,016,343	$	30,896	$	1,047,239	$	1,053,638	$	35,306	$	1,088,944
Cost of sales		792,632		5,491		798,123		839,012		8,080		847,092
Gross Profit		223,711		25,405		249,116		214,626		27,226		241,852
Selling, general, and administrative		166,199		8,200		174,399		158,838		9,300		168,138
Depreciation and amortization		8,243		7		8,250		7,084		2		7,086
Interest and financing costs		-		1,403		1,403		-		903		903
Operating expenses		174,442		9,610		184,052		165,922		10,205		176,127
Operating income		49,269		15,795		65,064		48,704		17,021		65,725
Other income (expense)						1,140						(1	)
Earnings before tax					$	66,204					$	65,724
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	8,895	$	4,446	$	13,341	$	7,413	$	3,911	$	11,324
Purchases of property, equipment and operating lease equipment	$	4,472	$	4,020	$	8,492	$	4,064	$	2,234	$	6,298
Selected Financial Data - Balance Sheet
Total assets	$	613,494	$	184,695	$	798,189	$	591,445	$	169,068	$	760,513

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 below (in thousands):

	Three Months Ended December 31,						Nine Months Ended December 31,
	2018			2017			2018			2017
Customer end market:
Technology	$	61,549		$	73,554		$	219,783		$	254,310
Telecom, Media & Entertainment		58,377			50,289			144,657			157,201
Financial Services		54,411			63,326			147,048			154,124
SLED		43,846			40,724			173,442			184,380
Healthcare		48,121			53,750			145,652			144,607
All others		68,407			50,418			185,761			159,016
Net sales		334,711			332,061			1,016,343			1,053,638
Financing and other		(5,076	)		(1,527	)		(15,567	)		(10,900	)
Revenue from contracts with customers	$	329,635		$	330,534		$	1,000,776		$	1,042,738

	Three Months Ended December 31,						Nine Months Ended December 31,
	2018			2017			2018			2017
Vendor
Cisco Systems	$	131,949		$	124,598		$	423,249		$	463,634
NetApp		12,408			21,712			37,447			47,599
HP Inc. & HPE		22,042			17,458			59,020			74,106
Dell / EMC		17,201			12,879			49,599			43,777
Arista Networks		13,668			13,203			44,139			37,730
Juniper		18,681			13,189			40,341			36,764
All others		118,762			129,022			362,548			350,028
Net sales		334,711			332,061			1,016,343			1,053,638
Financing and other		(5,076	)		(1,527	)		(15,567	)		(10,900	)
Revenue from contracts with customers	$	329,635		$	330,534		$	1,000,776		$	1,042,738