v3.26.1
REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Mar. 31, 2026
REVISION OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS [Abstract]  
Schedule of Correction on Previously Issued Financial Statements
The following table details the impact of the misstatements and provides revisions to the impacted financial statement line items in the previously-issued consolidated balance sheets for the period presented (in thousands):
 
    
March 31, 2025
 
    
As reported
    
Adjusted
    
As revised
 
Accounts receivable—trade, net
$516,925  $(8,653)  $508,272 
Other current assets
  28,500    2,937    31,437 
Accounts payable
  324,580    (690)    323,890 
Salaries and commissions payable
  42,219    503    42,722 
Deferred revenue
  152,631    1,436    154,067 
Additional paid-in capital
  193,698    777    194,475 
Retained earnings
  850,956    (7,742)    843,214 
The following table details the impact of the misstatements and provides revisions to the impacted financial statement line items in the previously-issued consolidated statements of operations and consolidated statements of comprehensive income for the periods presented (in thousands, except per share data):
 
     Year ended March 31, 2025
    Year ended March 31, 2024       
     As reported      Adjusted      As revised      As reported      Adjusted      As revised  
Net sales- product  $1,609,190   $(9,399)   $1,599,791   $1,884,438   $1,734   $1,886,172 
Net sales   2,009,567    (9,399)    2,000,168    2,176,515    1,734    2,178,249 
Cost of sales- product   1,235,490    (5,995)    1,229,495    1,486,604    (1,313)    1,485,291 
Cost of sales   1,494,043    (5,995)    1,488,048    1,667,820    (1,313)    1,666,507 
Gross profit   515,524    (3,404)    512,120    508,695    3,047    511,742 
Selling, general, and administrative   385,401    1,280    386,681    355,556     -     355,556 
Operating expenses   411,154    1,280    412,434    377,936     -     377,936 
Operating income   104,370    (4,684)    99,686    130,759    3,047    133,806 
Earnings from continuing operations before tax   110,808    (4,684)    106,124    132,191    3,047    135,238 
Provision for income taxes   30,967    (1,282)    29,685    37,070    841    37,911 
Net earnings from continuing operations   79,841    (3,402)    76,439    95,121    2,206    97,327 
Net earnings   107,978    (3,402)    104,576    115,776    2,206    117,982 
Total comprehensive income   109,139    (3,402)    105,737    116,488    2,206    118,694 
Basic EPS, continuing operations   3.01    (0.13)    2.88    3.57    0.09    3.66 
Diluted EPS, continuing operations   2.99    (0.12)    2.87    3.56    0.08    3.64 
 
The following table details the impact of the misstatements and provides revisions to the impacted financial statement line items in the previously-issued consolidated statements of cash flows for the periods presented (in thousands):
 
   Year ended March 31, 2025    Year ended March 31, 2024  
    
As reported
    
Adjusted
    
As revised
    
As reported
    
Adjusted
    
As revised
 
Cash flows from operating activities:
                              
Net earnings
  $107,978   $(3,402)   $104,576   $115,776   $2,206   $117,982 
Net earnings from continuing operations
   79,841    (3,402)    76,439    95,121    2,206    97,327 
Share-based compensation expense
   9,725    777    10,502    9,471     -     9,471 
Accounts receivable
   185,910    8,653    194,563    (117,469)     -     (117,469) 
Inventories
   29,364    (5,995)    23,369    104,781    (3,047)    101,734 
Deferred costs and other assets
   (30,289)    (1,282)    (31,571)    (24,814)    841    (23,973) 
Accounts payable
   6,703    (690)    6,013    106,967     -     106,967 
Salaries and commissions payable, deferred revenue, and other liabilities
   10,053    1,939    11,992    51,600     -     51,600 
 
The following table details the impact of the misstatements and provides revisions to the impacted financial statement line items in the previously-issued consolidated statements of stockholders’ equity for the periods presented (in thousands):
 
     Year ended March 31, 2025
    Year ended March 31, 2024       
     As reported      Adjusted      As revised      As reported      Adjusted      As revised  
Additional paid-in capital                              
Balance, beginning  $180,058   $ -    $180,058   $167,303   $ -    $167,303 
Share-based compensation   10,007    777    10,784    9,738     -     9,738 
Balance, ending   193,698    777    194,475    180,058     -     180,058 
Retained earnings                              
Balance, beginning   742,978    (4,340)    738,638    627,202    (6,546)    620,656 
Net earnings   107,978    (3,402)    104,576    115,776    2,206    117,982 
Balance, ending   850,956    (7,742)    843,214    742,978    (4,340)    738,638 
Total                              
Balance, beginning   901,779    (4,340)    897,439    782,265    (6,546)    775,719 
Share-based compensation   10,007    777    10,784    9,738     -     9,738 
Net earnings   107,978    (3,402)    104,576    115,776    2,206    117,982 
Balance, ending   977,623    (6,965)    970,658    901,779    (4,340)    897,439