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Basis of Presentation (Tables)

3 Months Ended

Sep. 30, 2018

Basis of Presentation

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

		Three Months Ended September 30,
		2017			2018
Net income available to common stockholders		$	10,157		$	9,402
Weighted average shares outstanding—basic			18,778			18,090
Dilutive effect of equity awards			813			646
Weighted average shares outstanding—diluted			19,591			18,736
Basic earnings per share		$	0.54		$	0.52
Diluted earnings per share		$	0.52		$	0.50

Summary of fair values of financial assets and liabilities

The fair values of the our financial assets and liabilities as of June 30, 2018 and September 30, 2018 are categorized as follows (in thousands):

		June 30, 2018												September 30, 2018
		Level 1			Level 2			Level 3			Total			Level 1			Level 2			Level 3			Total
Assets:
Insurance company contracts		$	—		$	31,897		$	—		$	31,897		$	—		$	33,497		$	—		$	33,497
Interest rate contract			—			18			—			18			—			13			—			13
Total assets		$	—		$	31,915		$	—		$	31,915		$	—		$	33,510		$	—		$	33,510
Liabilities—Contingent consideration		$	—		$	—		$	15,713		$	15,713		$	—		$	—		$	21,102		$	21,102

Schedule of impact to condensed consolidated statements of operations and balance sheet

Statement of Operations (in thousands)

		Three Months Ended September 30, 2018
					Results without
		Results			Adoption of			Effect of
		as Reported			ASC 606			Change
Revenue		$	266,249		$	262,893		$	3,356
Cost of goods sold			170,336			169,157			1,179
Operating expenses			79,656			77,654			2,002
Operating income			16,257			16,082			175
Interest and other expense, net			(5,332)			(5,332)			—
Income tax provision			(1,523)			(1,474)			49
Net income		$	9,402		$	9,276		$	126

Balance Sheet (in thousands)

		September 30, 2018
					Balances without
		Balances			Adoption of			Effect of
		as Reported			ASC 606			Change
Assets
Accounts receivable, net		$	222,170		$	220,886		$	1,284
Inventories			343,974			345,170			(1,196)
Other assets			761,784			761,784			—
Liabilities
Current liabilities			510,997			511,034			(37)
Other liabilities			329,629			329,629			—
Stockholders’ Equity
Retained earnings			344,147			344,021			126

Schedule of contract assets and contract liabilities

Contract Assets (in thousands)

		June 30,			September 30,
		2018			2018			Change			% Change
Unbilled revenue		$	13,087		$	16,158		$	3,071		23	%

Contract Liabilities (in thousands)

		June 30,			September 30,
		2018			2018			Change			% Change
Advances from customers		$	55,761		$	74,148		$	18,387		33	%
Deferred revenue–current			28,899			30,352			1,453		5	%
Deferred revenue–long-term			9,562			8,011			(1,551)		(16)	%

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