SEGMENT REPORTING (Tables)

6 Months Ended

Sep. 30, 2020

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

Our reportable segment information for the three- and six-month periods ended September 30, 2020, and 2019 are summarized in the following tables (in thousands):

	Three Months Ended
	September 30, 2020						September 30, 2019
	Technology		Financing		Total		Technology		Financing		Total
Sales
Product	$	369,934	$	13,722	$	383,656	$	349,650	$	13,847	$	363,497
Service		49,425		-		49,425		48,068		-		48,068
Net sales		419,359		13,722		433,081		397,718		13,847		411,565
Cost of Sales
Product		301,006		1,957		302,963		276,475		2,388		278,863
Service		31,156		-		31,156		29,671		-		29,671
Total cost of sales		332,162		1,957		334,119		306,146		2,388		308,534
Gross Profit		87,197		11,765		98,962		91,572		11,459		103,031
Selling, general, and administrative		62,586		4,303		66,889		67,189		3,334		70,523
Depreciation and amortization		3,313		28		3,341		3,529		28		3,557
Interest and financing costs		1		246		247		-		576		576
Operating expenses		65,900		4,577		70,477		70,718		3,938		74,656
Operating income		21,297		7,188		28,485		20,854		7,521		28,375
Other income						184						(40	)
Earnings before tax					$	28,669					$	28,335
Net Sales
Contracts with customers	$	412,357	$	1,028	$	413,385	$	394,585	$	1,411	$	395,996
Financing and other		7,002		12,694		19,696		3,133		12,436		15,569
Net Sales	$	419,359	$	13,722	$	433,081	$	397,718	$	13,847	$	411,565
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	3,499	$	1,182	$	4,681	$	3,658	$	1,455	$	5,113
Purchases of property, equipment and operating lease equipment	$	990	$	-	$	990	$	1,426	$	1,944	$	3,370
Selected Financial Data - Balance Sheet
Total assets	$	812,633	$	226,078	$	1,038,711	$	690,648	$	223,618	$	914,266

	Six Months Ended
	September 30, 2020						September 30, 2019
	Technology		Financing		Total		Technology		Financing		Total
Sales
Product	$	663,367	$	27,529	$	690,896	$	672,414	$	26,684	$	699,098
Service		97,216		-		97,216		93,839		-		93,839
Net sales		760,583		27,529		788,112		766,253		26,684		792,937
Cost of Sales
Product		525,549		4,048		529,597		534,529		4,397		538,926
Service		60,996		-		60,996		58,341		-		58,341
Total cost of sales		586,545		4,048		590,593		592,870		4,397		597,267
Gross Profit		174,038		23,481		197,519		173,383		22,287		195,670
Selling, general, and administrative		128,142		8,214		136,356		129,856		6,454		136,310
Depreciation and amortization		6,801		56		6,857		6,936		84		7,020
Interest and financing costs		266		558		824		-		1,204		1,204
Operating expenses		135,209		8,828		144,037		136,792		7,742		144,534
Operating income		38,829		14,653		53,482		36,591		14,545		51,136
Other income						282						(85	)
Earnings before tax					$	53,764					$	51,051
Net Sales
Contracts with customers	$	746,344	$	1,988	$	748,332	$	758,266	$	2,200	$	760,466
Financing and other		14,239		25,541		39,780		7,987		24,484		32,471
Net Sales	$	760,583	$	27,529	$	788,112	$	766,253	$	26,684	$	792,937
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	7,133	$	2,327	$	9,460	$	7,283	$	2,794	$	10,077
Purchases of property, equipment and operating lease equipment	$	3,101	$	166	$	3,267	$	2,675	$	2,213	$	4,888
Selected Financial Data - Balance Sheet
Total assets	$	812,633	$	226,078	$	1,038,711	$	690,648	$	223,618	$	914,266

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, 2020, and 2019 in the tables below (in thousands):

	Three Months Ended September 30,						Six Months Ended September 30,
	2020			2019			2020			2019
Customer end market:
Technology	$	76,321		$	97,502		$	146,288		$	173,682
Telecom, Media & Entertainment		96,927			71,044			153,579			133,510
Financial Services		46,732			44,605			94,153			92,847
State and local government and educational institutions		76,492			71,866			147,055			143,057
Healthcare		59,252			59,818			105,788			115,926
All others		63,635			52,883			113,720			107,231
Net sales		419,359			397,718			760,583			766,253
Less: Revenue from financing and other		(7,002	)		(3,133	)		(14,239	)		(7,987	)
Revenue from contracts with customers	$	412,357		$	394,585		$	746,344		$	758,266

	Three Months Ended September 30,						Six Months Ended September 30,
	2020			2019			2020			2019
Vendor
Cisco Systems	$	173,166		$	172,605		$	301,098		$	318,786
NetApp		9,914			9,771			25,335			23,198
HP Inc. & HPE		16,395			18,986			33,433			42,099
Dell EMC		15,349			12,494			46,430			26,275
Arista Networks		13,443			26,766			20,263			47,716
Juniper Networks		24,716			24,370			38,295			31,424
All others		166,376			132,726			295,729			276,755
Net sales		419,359			397,718			760,583			766,253
Less: Revenue from financing and other		(7,002	)		(3,133	)		(14,239	)		(7,987	)
Revenue from contracts with customers	$	412,357		$	394,585		$	746,344		$	758,266