SEGMENT REPORTING (Tables)

6 Months Ended

Sep. 30, 2019

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

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

	Three Months Ended
	September 30, 2019							September 30, 2018
	Technology		Financing		Total			Technology		Financing		Total
Sales
Product	$	349,650	$	13,847	$	363,497		$	299,200	$	10,275	$	309,475
Service		48,068		-		48,068			35,568		-		35,568
Net sales	$	397,718	$	13,847	$	411,565		$	334,768	$	10,275	$	345,043
Cost of Sales
Product		276,475		2,388		278,863			236,404		1,730		238,134
Service		29,671		-		29,671			21,409		-		21,409
Total cost of sales		306,146		2,388		308,534			257,813		1,730		259,543
Gross Profit		91,572		11,459		103,031			76,955		8,545		85,500
Selling, general, and administrative		67,189		3,334		70,523			55,138		2,567		57,705
Depreciation and amortization		3,529		28		3,557			2,740		1		2,741
Interest and financing costs		-		576		576			-		484		484
Operating expenses		70,718		3,938		74,656			57,878		3,052		60,930
Operating income		20,854		7,521		28,375			19,077		5,493		24,570
Other income (expense)						(40	)						322
Earnings before tax					$	28,335						$	24,892
Net Sales
Contracts with customers	$	394,585	$	1,411	$	395,996		$	329,682	$	1,060	$	330,742
Financing and other		3,133		12,436		15,569			5,086		9,215		14,301
Net Sales	$	397,718	$	13,847	$	411,565		$	334,768	$	10,275	$	345,043
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	3,658	$	1,455	$	5,113		$	2,970	$	1,397	$	4,367
Purchases of property, equipment and operating lease equipment	$	1,426	$	1,944	$	3,370		$	1,796	$	3,025	$	4,821
Selected Financial Data - Balance Sheet
Total assets	$	690,648	$	223,618	$	914,266		$	565,771	$	209,425	$	775,196

	Six Months Ended
	September 30, 2019							September 30, 2018
	Technology		Financing		Total			Technology		Financing		Total
Sales
Product	$	672,414	$	26,684	$	699,098		$	612,349	$	19,943	$	632,292
Service		93,839		-		93,839			69,283		-		69,283
Net sales		766,253		26,684		792,937			681,632		19,943		701,575
Cost of Sales
Product		534,529		4,397		538,926			490,468		3,478		493,946
Service		58,341		-		58,341			41,426		-		41,426
Cost of sales		592,870		4,397		597,267			531,894		3,478		535,372
Gross Profit		173,383		22,287		195,670			149,738		16,465		166,203
Selling, general, and administrative		129,856		6,454		136,310			109,592		5,079		114,671
Depreciation and amortization		6,936		84		7,020			5,529		2		5,531
Interest and financing costs		-		1,204		1,204			-		960		960
Operating expenses		136,792		7,742		144,534			115,121		6,041		121,162
Operating income		36,591		14,545		51,136			34,617		10,424		45,041
Other income (expense)						(85	)						419
Earnings before tax					$	51,051						$	45,460
Net Sales
Contracts with customers	$	758,266	$	2,200	$	760,466		$	671,141	$	1,656	$	672,797
Financing and other		7,987		24,484		32,471			10,491		18,287		28,778
Net sales	$	766,253	$	26,684	$	792,937		$	681,632	$	19,943	$	701,575
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	7,283	$	2,794	$	10,077		$	5,985	$	2,882	$	8,867
Purchases of property, equipment and operating lease equipment	$	2,675	$	2,213	$	4,888		$	2,976	$	3,475	$	6,451
Selected Financial Data - Balance Sheet
Total assets	$	690,648	$	223,618	$	914,266		$	565,771	$	209,425	$	775,196

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 September 30,						Six Months Ended September 30,
	2019			2018			2019			2018
Customer end market:
Technology	$	97,502		$	75,417		$	173,682		$	158,234
Telecom, Media & Entertainment		71,044			39,412			133,510			86,280
Financial Services		44,605			47,412			92,847			92,638
SLED		71,866			61,391			143,057			129,596
Healthcare		59,818			51,081			115,926			97,531
All others		52,883			60,055			107,231			117,353
Net sales		397,718			334,768			766,253			681,632
Financing and other		(3,133	)		(5,086	)		(7,987	)		(10,491	)
Revenue from contracts with customers	$	394,585		$	329,682		$	758,266		$	671,141

	Three Months Ended September 30,						Six Months Ended September 30,
	2019			2018			2019			2018
Vendor
Cisco Systems	$	172,605		$	152,063		$	318,786		$	291,300
NetApp		9,771			9,477			23,198			25,039
HP Inc. & HPE		18,986			16,658			42,099			36,977
Dell EMC		12,494			19,895			26,275			32,398
Arista Networks		26,766			10,673			47,716			30,471
Juniper Networks		24,370			11,262			31,424			21,660
All others		132,726			114,740			276,755			243,787
Net sales		397,718			334,768			766,253			681,632
Financing and other		(3,133	)		(5,086	)		(7,987	)		(10,491	)
Revenue from contracts with customers	$	394,585		$	329,682		$	758,266		$	671,141