XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.25.2

Revision of Prior Period Financial Statements | 6 Months Ended
--- | ---
Jun. 30, 2025
Accounting Changes and Error Corrections [Abstract] |
Revision of Prior Period Financial Statements | Revision 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 the revision to the specific line items presented in our previously reported (a) consolidated statements of operations and comprehensive income for the quarterly and year to date periods ended June 30, 2024; (b) consolidated statement of stockholders' equity for the quarterly period ended June 30, 2024; and (c) consolidated statement of cash flows for the year to date period ended June 30, 2024. 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 |
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.

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for classifying current financial statements, which may be different from classifications in the prior year's financial statements. Disclose any material changes in classification including an explanation of the reason for the change and the areas impacted. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483504/205-10-50-1 + Details
Name: | us-gaap_Reclassifications
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration