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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 53,276 $ 55,272
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,543 8,384
Loss on disposal of property and equipment 0 13
Deferred income taxes 4,272 1,213
Amortization of debt origination costs 983 828
Stock-based compensation costs 4,146 3,857
Non-cash operating lease cost 1,244 1,493
Other 0 446
Changes in operating assets and liabilities:    
Accounts receivable 5,632 (7,079)
Inventories (7,711) (14,415)
Prepaid expenses and other current assets (5,181) (3,227)
Accounts payable (5,599) 2,542
Accrued liabilities (8,519) 10,524
Operating lease liabilities (1,745) (1,602)
Other (254) (2)
Net cash provided by operating activities 48,087 58,247
Investing Activities    
Purchases of property, plant and equipment (1,477) (1,047)
Other 3,800 0
Net cash provided by (used in) investing activities 2,323 (1,047)
Financing Activities    
Term loan repayments (30,000) (15,000)
Borrowings under revolving credit agreement 0 20,000
Repayments under revolving credit agreement 0 (10,000)
Payments of finance leases (699) (686)
Proceeds from exercise of stock options 7,028 1,489
Fair value of shares surrendered as payment of tax withholding (5,508) (5,450)
Repurchase of common stock (25,000) (37,727)
Net cash used in financing activities (54,179) (47,374)
Effects of exchange rate changes on cash and cash equivalents (140) (1,142)
Increase (decrease) in cash and cash equivalents (3,909) 8,684
Cash and cash equivalents - beginning of period 58,489 27,185
Cash and cash equivalents - end of period 54,580 35,869
Supplemental Cash Flow Information [Abstract]    
Interest paid 17,582 3,562
Income taxes paid $ 11,964 $ 1,799