SEGMENT REPORTING (Tables)

9 Months Ended

Dec. 31, 2019

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

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

	Three Months Ended
	December 31, 2019						December 31, 2018
	Technology		Financing		Total		Technology		Financing		Total
Sales
Product	$	360,206	$	18,363	$	378,569	$	299,490	$	10,953	$	310,443
Service		50,422		-		50,422		35,221		-		35,221
Net sales	$	410,628	$	18,363	$	428,991	$	334,711	$	10,953	$	345,664
Cost of Sales
Product		290,980		2,229		293,209		239,843		2,013		241,856
Service		32,086		-		32,086		20,895		-		20,895
Total cost of sales		323,066		2,229		325,295		260,738		2,013		262,751
Gross Profit		87,562		16,134		103,696		73,973		8,940		82,913
Selling, general, and administrative		67,759		5,331		73,090		56,607		3,121		59,728
Depreciation and amortization		3,619		28		3,647		2,714		5		2,719
Interest and financing costs		-		694		694		-		443		443
Operating expenses		71,378		6,053		77,431		59,321		3,569		62,890
Operating income		16,184		10,081		26,265		14,652		5,371		20,023
Other income						997						721
Earnings before tax					$	27,262					$	20,744
Net Sales
Contracts with customers	$	404,918	$	1,689	$	406,607	$	329,635	$	813	$	330,448
Financing and other		5,710		16,674		22,384		5,076		10,140		15,216
Net Sales	$	410,628	$	18,363	$	428,991	$	334,711	$	10,953	$	345,664
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	3,691	$	1,449	$	5,140	$	2,910	$	1,564	$	4,474
Purchases of property, equipment and operating lease equipment	$	786	$	1,535	$	2,321	$	1,496	$	545	$	2,041
Selected Financial Data - Balance Sheet
Total assets	$	733,174	$	219,434	$	952,608	$	613,494	$	184,695	$	798,189

	Nine Months Ended
	December 31, 2019						December 31, 2018
	Technology		Financing		Total		Technology		Financing		Total
Sales
Product	$	1,032,620	$	45,047	$	1,077,667	$	911,839	$	30,896	$	942,735
Service		144,261		-		144,261		104,504		-		104,504
Net sales		1,176,881		45,047		1,221,928		1,016,343		30,896		1,047,239
Cost of Sales
Product		825,509		6,626		832,135		730,311		5,491		735,802
Service		90,427		-		90,427		62,321		-		62,321
Cost of sales		915,936		6,626		922,562		792,632		5,491		798,123
Gross Profit		260,945		38,421		299,366		223,711		25,405		249,116
Selling, general, and administrative		197,615		11,785		209,400		166,199		8,200		174,399
Depreciation and amortization		10,555		112		10,667		8,243		7		8,250
Interest and financing costs		-		1,898		1,898		-		1,403		1,403
Operating expenses		208,170		13,795		221,965		174,442		9,610		184,052
Operating income		52,775		24,626		77,401		49,269		15,795		65,064
Other income						912						1,140
Earnings before tax					$	78,313					$	66,204
Net Sales
Contracts with customers	$	1,163,184	$	3,889	$	1,167,073	$	1,000,776	$	2,469	$	1,003,245
Financing and other		13,697		41,158		54,855		15,567		28,427		43,994
Net sales	$	1,176,881	$	45,047	$	1,221,928	$	1,016,343	$	30,896	$	1,047,239
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	10,974	$	4,243	$	15,217	$	8,895	$	4,446	$	13,341
Purchases of property, equipment and operating lease equipment	$	3,461	$	3,748	$	7,209	$	4,472	$	4,020	$	8,492
Selected Financial Data - Balance Sheet
Total assets	$	733,174	$	219,434	$	952,608	$	613,494	$	184,695	$	798,189

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 below (in thousands):

	Three Months Ended December 31,						Nine Months Ended December 31,
	2019			2018			2019			2018
Customer end market:
Technology	$	77,841		$	61,549		$	251,523		$	219,783
Telecom, Media & Entertainment		84,707			58,377			218,217			144,657
Financial Services		56,395			54,411			149,241			147,048
SLED		55,908			43,846			198,964			173,442
Healthcare		60,275			48,121			176,202			145,652
All others		75,502			68,407			182,734			185,761
Net sales		410,628			334,711			1,176,881			1,016,343
Financing and other		(5,710	)		(5,076	)		(13,697	)		(15,567	)
Revenue from contracts with customers	$	404,918		$	329,635		$	1,163,184		$	1,000,776

	Three Months Ended December 31,						Nine Months Ended December 31,
	2019			2018			2019			2018
Vendor
Cisco Systems	$	169,265		$	131,949		$	488,051		$	423,249
NetApp		15,799			12,408			38,997			37,447
HP Inc. & HPE		15,853			22,042			57,952			59,020
Dell EMC		12,025			17,201			38,300			49,599
Arista Networks		12,862			13,668			60,578			44,139
Juniper Networks		27,419			18,681			58,843			40,341
All others		157,405			118,762			434,160			362,548
Net sales		410,628			334,711			1,176,881			1,016,343
Financing and other		(5,710	)		(5,076	)		(13,697	)		(15,567	)
Revenue from contracts with customers	$	404,918		$	329,635		$	1,163,184		$	1,000,776