v3.25.1
Restatement of Prior Period Financial Statements
 3 Months Ended
Mar. 31, 2025
Accounting Changes and Error Corrections [Abstract]  
Restatement of Prior Period Financial Statements Restatement of Prior Period Financial Statements
As previously disclosed in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 and discussed in Note 1 “Organization and Summary of Significant Accounting Policies”, the following tables reflect the impact of other previously identified immaterial errors to the specific line items presented in our previously reported (a) consolidated statement of operations and comprehensive income for the quarterly period ended March 31, 2024; (b) consolidated statement of stockholders' equity for the quarterly period ended March 31, 2024; and (c) consolidated statement of cash flows for the quarterly period ended March 31, 2024.
Consolidated Statement of Operations and Comprehensive Income
(in thousands)
Three Months Ended March 31, 2024As Reported
Adjustments
As Restated
Net sales from products$272,048 $(1,624)$270,424 
Net sales from services188,688 759 189,447 
Net sales460,736 (865)459,871 
Cost of product sales151,698 462 152,160 
Cost of service sales48,992 91 49,083 
Cost of sales200,690 553 201,243 
Gross margin260,046 (1,418)258,628 
Selling, general and administrative152,669 (1,594)151,075 
Total operating expenses243,766 (1,594)242,172 
Income from operations16,280 176 16,456 
Income before provision for income taxes165,720 176 165,896 
Provision for (benefit from) income taxes32,502 42 32,544 
Net income$133,218 $134 $133,352 
Comprehensive income$132,311 $134 $132,445 

There was no impact on disclosed basic and diluted income per common and common equivalent shares for the three months ended March 31, 2024.
Consolidated Statement of Stockholders' Equity
(in thousands)
As Reported
Adjustments
As Restated
Retained EarningsTotal
Stockholders’
Equity		Retained EarningsTotal
Stockholders’
Equity		Retained EarningsTotal
Stockholders’
Equity
Balance, December 31, 2023$431,249 $1,612,034 $3,731 $3,731 $434,980 $1,615,765 
Net income133,218 133,218 134 134 133,352 133,352 
Balance, March 31, 2024$564,467 $1,818,015 $3,865 $3,865 $568,332 $1,821,880 
Consolidated Statement of Cash Flows
(in thousands)
Three Months Ended March 31, 2024As Reported
Adjustments
As Restated
Cash flows from operating activities:
Net income$133,218 $134 $133,352 
Provision for bad debts and inventory216 1,364 1,580 
Change in assets and liabilities:
Receivables and contract assets(51,132)(5,605)(56,737)
Inventory(710)(1,364)(2,074)
Deferred revenue20,743 (1,622)19,121 
Accounts payable, accrued and other liabilities(84,289)(1,551)(85,840)
Other - net2 8,644 8,646 
Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or on cash flows from investing or financing activities.