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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES |
Schedule of disaggregation of revenue by the geographic region for customers | Net revenues by geographic region are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended | ​ | ​
​ | March 31 | ​ | ​
(in thousands) | 2025 | ​ | 2024 | ​ | Change
Geographic regions: | ​ |  | ​ | ​ |  | ​ | ​
North America | $ | 186,338 | ​ | $ | 318,536 | ​ | (41.5)%
Foreign | ​ | 39,313 | ​ | ​ | 31,335 | ​ | 25.5%
TOTAL NET REVENUE | $ | 225,651 | ​ | $ | 349,871 | ​ | (35.5)%
Schedule of segment reporting information by segment | The following tables contain information reviewed by the CODM:
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended March 31
(in thousands) | (Unaudited)
CONSOLIDATED STATEMENT OF INCOME | 2025 | ​ | 2024
Net Sales by Geographic Region: | ​ | ​ | ​ | ​ | ​
North America | $ | 186,338 | ​ | $ | 318,536
Foreign | ​ | 39,313 | ​ | ​ | 31,335
Net Sales | ​ | 225,651 | ​ | ​ | 349,871
​ | ​ | ​ | ​ | ​ | ​
Cost of Operations |  | 191,707 | ​ |  | 305,628
Selling, general and administrative expenses | ​ | 23,260 | ​ | ​ | 21,543
Interest expense, net |  | 95 | ​ |  | 1,245
Other (income) expense, net |  | (202) | ​ |  | (33)
Income before taxes | ​ | 10,791 | ​ | ​ | 21,488
Tax expense | ​ | 2,726 | ​ | ​ | 4,465
CONSOLIDATED NET INCOME | $ | 8,065 | ​ | $ | 17,023
​
​ | ​ | ​ | ​ | ​ | ​
​ | March 31, 2025 |  | December 31, 2024
(in thousands) | (Unaudited) | ​ | ​ | ​
TOTAL ASSETS | ​ | ​ | ​ | ​ | ​
Cash and temporary investments | $ | 27,360 | ​ | $ | 24,337
Accounts Receivable, net of allowance for credit losses | ​ | 292,574 | ​ | ​ | 313,413
Inventories, net | ​ | 164,897 | ​ | ​ | 186,169
Prepaid expenses | ​ | 16,114 | ​ | ​ | 5,847
​ | ​ | ​ | ​ | ​ | ​
Long-lived assets: | ​ | ​ | ​ | ​ | ​
North America | ​ | 131,078 | ​ | ​ | 129,181
Foreign | ​ | 6,922 | ​ | ​ | 7,341
Net Long-Lived Assets | ​ | 138,000 | ​ | ​ | 136,522
​ | ​ | ​ | ​ | ​ | ​
Other Assets | ​ | 762 | ​ | ​ | 727
CONSOLIDATED TOTAL ASSETS | $ | 639,707 | ​ | $ | 667,015
​

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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