Revision of Prior Period Financial Statements (Tables)

6 Months Ended

Jun. 30, 2025

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Consolidated Statements of Operations and Comprehensive Income

(in thousands)


Three Months Ended June 30, 2024						As Reported						Adjustments						As Revised

Net sales from products						$	295,185					$	(2,422)					$	292,763
Net sales from services						208,914						1,559						210,473
Net sales						504,099						(863)						503,236
Cost of product sales						145,154						(2,527)						142,627
Cost of service sales						55,210						(757)						54,453
Cost of sales						200,364						(3,284)						197,080
Gross margin						303,735						2,421						306,156
Selling, general and administrative						169,427						1,537						170,964
Total operating expenses						270,861						1,537						272,398
Income from operations						32,874						884						33,758
Income before provision for income taxes						50,590						884						51,474
Provision for income taxes						9,793						208						10,001
Net income						$	40,797					$	676					$	41,473
Net income per common and common equivalent shares - Basic						$	0.54					$	0.01					$	0.55
Comprehensive income						$	38,189					$	676					$	38,865

There was no impact on disclosed diluted income per common and common equivalent shares for the three months ended June 30, 2024.


Six Months Ended June 30, 2024						As Reported						Adjustments						As Revised

Net sales from products						$	567,233					$	(4,046)					$	563,187
Net sales from services						397,602						2,318						399,920
Net sales						964,835						(1,728)						963,107
Cost of product sales						296,852						(2,065)						294,787
Cost of service sales						104,202						(666)						103,536
Cost of sales						401,054						(2,731)						398,323
Gross margin						563,781						1,003						564,784
Selling, general and administrative						322,096						(57)						322,039
Total operating expenses						514,627						(57)						514,570
Income from operations						49,154						1,060						50,214
Income before provision for income taxes						216,310						1,060						217,370
Provision for income taxes						42,295						250						42,545
Net income						$	174,015					$	810					$	174,825
Net income per common and common equivalent shares - Basic						$	2.31					$	0.01					$	2.32
Net income per common and common equivalent shares - Diluted						$	2.25					$	0.01					$	2.26
Comprehensive income						$	170,500					$	810					$	171,310

Consolidated Statement of Stockholders' Equity

(in thousands)


						As Reported												Adjustments												As Revised
						Retained Earnings						Total Stockholders’ Equity						Retained Earnings						Total Stockholders’ Equity						Retained Earnings						Total Stockholders’ Equity

Balance, March 31, 2024						$	564,467					$	1,818,015					$	3,865					$	3,865					$	568,332					$	1,821,880
Net income						40,797						40,797						676						676						41,473						41,473
Balance, June 30, 2024						$	605,264					$	1,928,840					$	4,541					$	4,541					$	609,805					$	1,933,381

Consolidated Statement of Cash Flows

(in thousands)


Six Months Ended June 30, 2024						As Reported						Adjustments						As Revised

Cash flows from operating activities:
Net income						$	174,015					$	810					$	174,825
Provision for bad debts and inventory						2,241						8,843						11,084
Change in assets and liabilities:
Receivables and contract assets						(60,513)						(16,579)						(77,092)
Inventory						(8,116)						(8,843)						(16,959)
Deferred revenue						(12,067)						3,568						(8,499)
Accounts payable, accrued and other liabilities						(43,071)						(461)						(43,532)
Other - net						(4,252)						12,662						8,410