The adoption of the new revenue recognition standard impacted the revised consolidated statements of operations for the three and nine months ended December 31, 2017 as follows:

	Three Months Ended December 31, 2017								Nine Months Ended December 31, 2017
	As Revised			Adoption of ASC 606		As Adjusted			As Revised		Adoption of ASC 606		As Adjusted

Net sales	$	101,713,000		$	1,165,000	$	102,878,000		$	306,805,000	$	1,029,000	$	307,834,000
Cost of goods sold		75,833,000			984,000		76,817,000			229,669,000		225,000		229,894,000
Gross profit		25,880,000			181,000		26,061,000			77,136,000		804,000		77,940,000
Operating expenses:
General and administrative		11,915,000			-		11,915,000			26,418,000		-		26,418,000
Sales and marketing		4,048,000			-		4,048,000			10,899,000		-		10,899,000
Research and development		1,678,000			-		1,678,000			3,920,000		-		3,920,000
Total operating expenses		17,641,000			-		17,641,000			41,237,000		-		41,237,000
Operating income		8,239,000			181,000		8,420,000			35,899,000		804,000		36,703,000
Interest expense, net		3,953,000			-		3,953,000			10,789,000		-		10,789,000
Income before income tax expense		4,286,000			181,000		4,467,000			25,110,000		804,000		25,914,000
Income tax expense		6,936,000			58,000		6,994,000			14,742,000		284,000		15,026,000
Net (loss) income	$	(2,650,000	)	$	123,000	$	(2,527,000	)	$	10,368,000	$	520,000	$	10,888,000
Basic net (loss) income per share	$	(0.14	)	$	0.01	$	(0.13	)	$	0.55	$	0.03	$	0.58
Diluted net (loss) income per share	$	(0.14	)	$	0.01	$	(0.13	)	$	0.53	$	0.03	$	0.56
Weighted average number of shares outstanding:
Basic		19,069,152			19,069,152		19,069,152			18,814,967		18,814,967		18,814,967
Diluted		19,069,152			19,069,152		19,069,152			19,400,744		19,400,744		19,400,744

The adoption of the new revenue recognition standard impacted the revised consolidated balance sheet at March 31, 2018 as follows:

	March 31, 2018
	As Revised			Adoption of ASC 606			As Adjusted
ASSETS
Current assets:
Cash and cash equivalents	$	13,049,000		$	-		$	13,049,000
Short-term investments		2,828,000			-			2,828,000
Accounts receivable — net		15,738,000			47,436,000			63,174,000
Inventory— net		76,275,000			84,935,000			161,210,000
Inventory unreturned		7,508,000			-			7,508,000
Contract assets		-			23,206,000			23,206,000
Income tax receivable		7,972,000			-			7,972,000
Prepaid expenses and other current assets		15,104,000			(6,496,000	)		8,608,000
Total current assets		138,474,000			149,081,000			287,555,000
Plant and equipment — net		28,322,000			-			28,322,000
Long-term core inventory — net		298,294,000			(298,294,000	)		-
Long-term core inventory deposits		5,569,000			(5,569,000	)		-
Long-term deferred income taxes		6,937,000			(239,000	)		6,698,000
Long-term contract assets		-			222,731,000			222,731,000
Goodwill		2,551,000			-			2,551,000
Intangible assets — net		3,766,000			-			3,766,000
Other assets		21,995,000			(21,191,000	)		804,000
TOTAL ASSETS	$	505,908,000		$	46,519,000		$	552,427,000
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	73,273,000		$	-		$	73,273,000
Accrued liabilities		12,048,000			-			12,048,000
Customer finished goods returns accrual		17,805,000			-			17,805,000
Accrued core payment		16,536,000			(16,536,000	)		-
Contract liabilities		-			32,603,000			32,603,000
Revolving loan		54,000,000			-			54,000,000
Other current liabilities		4,471,000			-			4,471,000
Current portion of term loan		3,068,000			-			3,068,000
Total current liabilities		181,201,000			16,067,000			197,268,000
Term loan, less current portion		13,913,000			-			13,913,000
Long-term accrued core payment		18,473,000			(18,473,000	)		-
Long-term deferred income taxes		226,000			-			226,000
Long-term contract liabilities		-			48,183,000			48,183,000
Other liabilities		5,957,000			-			5,957,000
Total liabilities		219,770,000			45,777,000			265,547,000
Commitments and contingencies
Shareholders’ equity:
Preferred stock; par value $.01 per share, 5,000,000 shares authorized; none issued		-			-			-
Series A junior participating preferred stock; par value $.01 per share, 20,000 shares authorized; none issued		-			-			-
Common stock; par value $.01 per share, 50,000,000 shares authorized; 18,893,102 shares issued and outstanding at March 31, 2018		189,000			-			189,000
Additional paid-in capital		213,609,000			-			213,609,000
Retained earnings		77,768,000			742,000			78,510,000
Accumulated other comprehensive loss		(5,428,000	)		-			(5,428,000	)
Total shareholders’ equity		286,138,000			742,000			286,880,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	505,908,000		$	46,519,000		$	552,427,000

The adoption of the new revenue recognition standard impacted the revised statement of cash flows for the nine months ended December 31, 2017 as follows:

	Nine Months Ended December 31, 2017
Cash flows from operating activities:	As Revised			Adoption of ASC 606			As Adjusted
Net income	$	10,368,000		$	520,000		$	10,888,000
Deferred income taxes		(2,714,000	)		284,000			(2,430,000	)
Accounts receivable		23,127,000			(27,367,000	)		(4,240,000	)
Inventory		(11,162,000	)		(23,481,000	)		(34,643,000	)
Prepaid expenses and other current assets		(1,576,000	)		1,543,000			(33,000	)
Other assets		(163,000	)		10,000			(153,000	)
Long-term core inventory		(38,361,000	)		38,361,000			-
Contract assets, net		-			(16,208,000	)		(16,208,000	)
Contract liabilities, net		-			41,175,000			41,175,000
Accrued core payments		14,837,000			(14,837,000	)		-
Net cash used in operating activities	$	(9,803,000	)	$	-		$	(9,803,000	)