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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 49,068 $ 53,276
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,124 7,543
Loss on disposal of property and equipment 5 0
Deferred and other income taxes 612 4,272
Amortization of debt origination costs 454 983
Stock-based compensation costs 3,425 4,146
Non-cash operating lease cost 1,706 1,244
Changes in operating assets and liabilities:    
Accounts receivable 6,368 5,632
Inventories (13,048) (7,711)
Prepaid expenses and other current assets 2,359 (5,181)
Accounts payable 591 (5,599)
Accrued liabilities (2,061) (8,519)
Operating lease liabilities (1,883) (1,745)
Other (944) (254)
Net cash provided by operating activities 54,776 48,087
Investing Activities    
Purchases of property, plant and equipment (1,152) (1,477)
Other (978) 3,800
Net cash (used in) provided by investing activities (2,130) 2,323
Financing Activities    
Term loan repayments (35,000) (30,000)
Payments of finance leases (720) (699)
Proceeds from exercise of stock options 1,975 7,028
Fair value of shares surrendered as payment of tax withholding (5,801) (5,508)
Repurchase of common stock (25,976) (25,000)
Net cash used in financing activities (65,522) (54,179)
Effects of exchange rate changes on cash and cash equivalents 663 (140)
Decrease in cash and cash equivalents (12,213) (3,909)
Cash and cash equivalents - beginning of period 46,469 58,489
Cash and cash equivalents - end of period 34,256 54,580
Interest paid 13,670 17,582
Income taxes paid $ 3,661 $ 11,964