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Basis of Presentation (Tables)

6 Months Ended

Dec. 31, 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 (loss) per share (in thousands, except per share amounts):

		Three Months Ended December 31,						Six Months Ended December 31,
		2017			2018			2017			2018
Net income (loss) available to common stockholders		$	(46,951)		$	19,107		$	(36,794)		$	28,509
Weighted average shares outstanding—basic			18,971			18,085			18,874			18,088
Dilutive effect of equity awards			—			539			—			591
Weighted average shares outstanding—diluted			18,971			18,624			18,874			18,679
Basic earnings (loss) per share		$	(2.47)		$	1.06		$	(1.95)		$	1.58
Diluted earnings (loss) per share		$	(2.47)		$	1.03		$	(1.95)		$	1.53
Weighted average shares excluded from diluted earnings (loss) per share due to their anti-dilutive effect (in thousands)			684			126			753			81

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 December 31, 2018 are categorized as follows (in thousands):

		June 30, 2018												December 31, 2018
		Level 1			Level 2			Level 3			Total			Level 1			Level 2			Level 3			Total
Assets:
Insurance company contracts		$	—		$	31,897		$	—		$	31,897		$	—		$	30,622		$	—		$	30,622
Interest rate contract			—			18			—			18			—			9			—			9
Total assets		$	—		$	31,915		$	—		$	31,915		$	—		$	30,631		$	—		$	30,631
Liabilities—contingent consideration		$	—		$	—		$	15,713		$	15,713		$	—		$	—		$	19,997		$	19,997

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

Statement of Operations (in thousands)

		Three Months Ended December 31, 2018									Six Months Ended December 31, 2018
					Results									Results
					without									without
		Results			Adoption of			Effect of			Results			Adoption of			Effect of
		as Reported			ASC 606			Change			as Reported			ASC 606			Change
Revenue		$	303,205		$	288,376		$	14,829		$	569,454		$	551,043		$	18,411
Cost of goods sold			192,861			185,133			7,728			363,197			354,290			8,907
Operating expenses			78,637			74,690			3,947			158,293			152,118			6,175
Income from operations			31,707			28,553			3,154			47,964			44,635			3,329
Interest and other expense, net			(5,620)			(5,620)			—			(10,952)			(10,952)			—
Income tax provision			(6,980)			(6,445)			(535)			(8,503)			(7,920)			(583)
Net income		$	19,107		$	16,488		$	2,619		$	28,509		$	25,763		$	2,746

Balance Sheet (in thousands)

		December 31, 2018
					Balances
					without
		Balances			Adoption of			Effect of
		as Reported			ASC 606			Change
Assets
Accounts receivable, net		$	226,086		$	215,825		$	10,261
Inventories			315,200			324,134			(8,934)
Other assets			756,391			756,975			(584)
Liabilities
Current liabilities			469,914			471,917			(2,003)
Other liabilities			331,567			331,567			—
Stockholders’ Equity
Retained earnings			363,254			360,508			2,746

Schedule of contract assets and contract liabilities

Contract Assets (in thousands)

		June 30,			December 31,
		2018			2018			Change			% Change
Unbilled revenue		$	13,087		$	19,997		$	6,910		53	%

Contract Liabilities (in thousands)

		June 30,			December 31,
		2018			2018			Change			% Change
Advances from customers		$	55,761		$	69,410		$	13,649		24	%
Deferred revenue—current			28,899			32,516			3,617		13	%
Deferred revenue—long-term			9,562			8,883			(679)		(7)	%

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