ePlus (PLUS) 10-Q 8 Nov 13 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2013	Oct. 31, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'EPLUS INC	'
Entity Central Index Key	'0001022408	'
Current Fiscal Year End Date	'--03-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	8,171,006
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'

UNAUDITED_CONDENSED_CONSOLIDAT

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$53,696	$52,720
Short-term investments	0	982
Accounts receivable-trade, net	160,008	173,445
Accounts receivable-other, net	35,397	18,809
Inventories-net	20,202	14,795
Notes receivable - net	49,110	31,893
Investment in leases and leased equipment-net	91,421	90,710
Property and equipment-net	3,963	2,213
Deferred costs	8,350	10,234
Other assets	10,220	9,107
Goodwill and other intangible assets	32,934	32,964
TOTAL ASSETS	465,301	437,872
LIABILITIES	'	'
Accounts payable-equipment	13,523	5,379
Accounts payable-trade	31,042	31,331
Accounts payable-floor plan	80,294	66,251
Salaries and commissions payable	10,617	12,911
Deferred revenue	14,886	16,970
Accrued expenses and other liabilities	13,692	20,264
Recourse notes payable	1,520	1,484
Non-recourse notes payable	42,148	40,255
Deferred tax liability	4,795	4,795
Total Liabilities	212,517	199,640
COMMITMENTS AND CONTINGENCIES (Note 7)	'	'
STOCKHOLDERS' EQUITY	'	'
Preferred stock, $.01 par value; 2,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $.01 par value; 25,000,000 shares authorized; 13,025,021 issued and 8,170,282 outstanding at September 30, 2013 and 12,899,386 issued and 8,149,706 outstanding at March 31, 2013	130	129
Additional paid-in capital	103,684	99,641
Treasury stock, at cost, 4,854,739 and 4,749,680 shares, respectively	-73,207	-67,306
Retained earnings	221,804	205,358
Accumulated other comprehensive income-foreign currency translation adjustment	373	410
Total Stockholders' Equity	252,784	238,232
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$465,301	$437,872

UNAUDITED_CONDENSED_CONSOLIDAT1

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
STOCKHOLDERS' EQUITY	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	13,025,021	12,899,386
Common stock, shares outstanding (in shares)	8,170,282	8,149,706
Treasury stock, shares (in shares)	4,854,739	4,749,680

UNAUDITED_CONDENSED_CONSOLIDAT2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'	'	'
Sales of product and services	$261,283	$250,178	$508,320	$484,460
Financing revenue	8,001	7,413	18,761	15,313
Fee and other income	1,845	2,460	3,365	5,002
TOTAL REVENUES	271,129	260,051	530,446	504,775
COSTS AND EXPENSES	'	'	'	'
Cost of sales, product and services	214,854	205,199	418,184	399,590
Direct lease costs	3,495	2,461	6,748	4,704
Total cost of sales	218,349	207,660	424,932	404,294
Professional and other fees	1,908	2,707	5,146	5,820
Salaries and benefits	29,685	26,919	60,367	53,273
General and administrative expenses	6,059	5,411	11,060	10,066
Interest and financing costs	433	446	893	851
Total expenses	38,085	35,483	77,466	70,010
TOTAL COSTS AND EXPENSES	256,434	243,143	502,398	474,304
EARNINGS BEFORE PROVISION FOR INCOME TAXES	14,695	16,908	28,048	30,471
PROVISION FOR INCOME TAXES	6,104	6,875	11,607	12,376
NET EARNINGS	$8,591	$10,033	$16,441	$18,095
NET EARNINGS PER COMMON SHARE-BASIC (In dollars per share)	$1.07	$1.26	$2.05	$2.27
NET EARNINGS PER COMMON SHARE-DILUTED (In dollars per share)	$1.06	$1.25	$2.03	$2.25
WEIGHTED AVERAGE SHARES OUTSTANDING-BASIC (In shares)	7,975,590	7,770,206	7,944,932	7,745,506
WEIGHTED AVERAGE SHARES OUTSTANDING-DILUTED (In shares)	8,019,557	7,847,227	8,006,572	7,822,079

UNAUDITED_CONDENSED_CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]	'	'	'	'
NET EARNINGS	$8,591	$10,033	$16,441	$18,095
OTHER COMPREHENSIVE INCOME, NET OF TAX:	'	'	'	'
Foreign currency translation adjustments	57	91	-37	41
Other comprehensive income (loss)	57	91	-37	41
TOTAL COMPREHENSIVE INCOME	$8,648	$10,124	$16,404	$18,136

UNAUDITED_CONDENSED_CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash Flows From Operating Activities:	'	'
Net earnings	$16,441	$18,095
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:	'	'
Depreciation and amortization	7,359	5,615
Reserves for credit losses, inventory obsolescence and sales returns	211	137
Share-based compensation expense	1,954	1,578
Excess tax benefit from exercise of stock options	-1,536	-756
Payments from lessees directly to lenders-operating leases	-4,062	-2,391
Gain on disposal of property, equipment and operating lease equipment	-1,001	-560
Gain on sale of notes receivable	-4,025	-525
Excess increase in cash value of life insurance	-67	-75
Other	109	-255
Changes in:	'	'
Accounts receivable - trade	12,897	-11,958
Accounts receivable - other	-4,087	-7,593
Notes receivable	-624	1,028
Inventories	-5,043	7,635
Investment in direct financing and sale-type leases-net	-7,569	-795
Deferred costs, other assets, and other assets	1,513	-506
Accounts payable-equipment	1,700	-9,081
Accounts payable-trade	-222	-2,037
Salaries and commissions payable, deferred revenue and accrued expenses and other liabilities	-8,387	-4,949
Net cash provided by (used in) operating activities	5,561	-7,393
Cash Flows From Investing Activities:	'	'
Proceeds from sale of property, equipment and operating lease equipment	1,929	877
Purchases of property, equipment and operating lease equipment	-6,759	-6,223
Purchases of assets to be leased	-7,032	0
Purchases of short-term investments	0	-1,232
Maturities of short-term investments	982	6,658
Issuance of notes receivable	-45,847	-17,237
Repayments of notes receivable	16,031	9,387
Proceeds from sale of notes receivable	15,456	13,420
Premiums paid on life insurance	-93	-43
Net cash provided by (used in) investing activities	-25,333	5,607
Cash Flows From Financing Activities:	'	'
Borrowings of non-recourse and recourse notes payable	12,779	14,605
Repayments of non-recourse and recourse notes payable	-1,135	-500
Repurchase of common stock	-5,901	-1,557
Dividends paid	-105	0
Proceeds from issuance of capital stock through option exercise	559	178
Payments of contingent consideration	-1,027	0
Excess tax benefit from share based compensation	1,536	756
Net borrowings (repayments) on floor plan facility	14,042	-1,545
Net cash provided by financing activities	20,748	11,937
Effect of exchange rate changes on cash	0	6
Net Increase in Cash and Cash Equivalents	976	10,157
Cash and Cash Equivalents, Beginning of Period	52,720	33,778
Cash and Cash Equivalents, End of Period	53,696	43,935
Supplemental Disclosures of Cash Flow Information:	'	'
Cash paid for interest	15	1
Cash paid for income taxes	10,334	6,738
Schedule of Non-Cash Investing and Financing Activities:	'	'
Purchase of property and equipment included in accounts payable	71	62
Purchase of operating lease equipment included in accounts payable	241	175
Purchase of assets financed as notes receivables included in accounts payable	10,664	0
Proceeds from sales of operating lease equipment included in accounts receivable	12	143
Repayments of non-recourse and recourse notes payable	9,715	7,374
Vesting of share-based compensation	7,769	3,558
Origination and concurrent sale of notes receivable	$80,769	$0

UNAUDITED_CONDENSED_CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total
In Thousands, except Share data
Balance at Mar. 31, 2013	$129	$99,641	($67,306)	$205,358	$410	$238,232
Balance (in shares) at Mar. 31, 2013	8,149,706	'	'	'	'	8,149,706
Issuance of shares for option exercises	0	559	0	0	0	559
Issuance of shares for option exercises (in shares)	40,000	'	'	'	'	'
Excess tax benefit of share based compensation	0	1,536	0	0	0	1,536
Issuance of restricted stock awards	1	0	0	0	0	1
Issuance of restricted stock awards (in shares)	85,635	'	'	'	'	'
Share-based compensation	0	1,948	0	5	0	1,953
Repurchase of common stock	0	0	-5,901	0	0	-5,901
Repurchase of common stock (in shares)	-105,059	'	'	'	'	'
Net earnings	0	0	0	16,441	0	16,441
Foreign currency translation adjustment (net of tax of $1)	0	0	0	0	-37	-37
Total comprehensive income	'	'	'	'	'	16,404
Balance at Sep. 30, 2013	$130	$103,684	($73,207)	$221,804	$373	$252,784
Balance (in shares) at Sep. 30, 2013	8,170,282	'	'	'	'	8,170,282

UNAUDITED_CONDENSED_CONSOLIDAT6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY [Abstract]	'
Foreign currency translation adjustment, tax	$1

ORGANIZATION_AND_SUMMARY_OF_SI

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2013
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	1.	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	BASIS OF PRESENTATION — Our company was founded in 1990 and is a Delaware corporation. ePlus inc. is sometimes referred to in this Quarterly Report on Form 10-Q as “we,” “our,” “us,” “ourselves,” or “ePlus.” The unaudited condensed consolidated financial statements include the accounts of ePlus inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.
	INTERIM FINANCIAL STATEMENTS — The condensed consolidated financial statements for the three and six months ended September 30, 2013 and 2012 are unaudited, but include all normal and recurring adjustments that, in the opinion of management, are necessary for a fair presentation of our financial position, results of operations, changes in equity and cash flows for such periods. Operating results for the three and six months ended September 30, 2013 and 2012 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2014 or any other future period. These unaudited condensed consolidated financial statements do not include all disclosures required by the accounting principles generally accepted in the United States (“U.S. GAAP”) for annual financial statements. Our audited consolidated financial statements are contained in our annual report on Form 10-K for the year ended March 31, 2013 (“2013 Annual Report”), which should be read in conjunction with these interim financial statements.
	SUBSEQUENT EVENTS — Management has evaluated subsequent events after the balance sheet date through the date our financial statements are issued.
	USE OF ESTIMATES — The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Estimates are used when accounting for items and matters including, but not limited to, revenue recognition, residual values, vendor consideration, lease classification, goodwill and intangibles, reserves for credit losses, inventory obsolescence, and the recognition and measurement of income tax assets and other provisions and contingencies. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates.
	ACCOUNTS RECEIVABLE—TRADE — Trade accounts receivable are recorded at the invoiced amount and typically do not bear interest. The Company provides allowances for doubtful accounts related to accounts receivable for estimated losses resulting from the inability of its customers to make required payments. Our reserve for credit losses was $1.0 million as of September 30, 2013 and March 31, 2013.
	ACCOUNTS RECEIVABLE—OTHER — Accounts receivable—other consists of advances and payments made on behalf of our customers, as well as amounts due from vendors. Prior to the effective date of a lease or financing arrangement with our customer, any payments made by our financing segment for products and services for our customers are presented in accounts receivable—other as we generally act as an agent of our customer until the financing arrangement is accepted by our customer. We also receive incentives from vendors, including consideration pursuant to volume sales incentive programs, volume purchase incentive programs and shared marketing expense programs. These incentives generally relate to vendor programs with specified performance requirements, and estimated amounts earned but not paid by the vendors are included in accounts receivable—other. Our reserve for credit losses was $0.1 million as of September 30, 2013 and March 31, 2013.
	REVENUE RECOGNITION — The majority of our revenues are derived from the following sources: sales of products, sales of third-party software, sales of services provided by us, sales of third-party maintenance and services, financing revenues and sales of our software. For all these revenue sources, we determine whether we are the principal or agent in accordance with Accounting Standards Codification (“Codification”) Topic, Revenue Recognition, Subtopic Principal Agent Considerations. Our revenue recognition policies vary based upon these revenue sources.
	For the sale of third party software assurance, maintenance and services we concluded that we are acting as an agent and recognize revenue for these transactions on a net basis at the date of sale, which is presented within sales of products and services in our unaudited condensed consolidated statements of operations. Gross billings for all products and services for the three months ended September 30, 2013 and September 30, 2012 were $321.2 million and $318.8 million, respectively. Gross billings for all products and services for the six months ended September 30, 2013 and September 30, 2012 were $624.4 million and $597.6 million, respectively.
	DEFERRED COSTS AND DEFERRED REVENUE – Deferred costs include internal and third party costs associated with deferred revenue arrangements. Deferred revenue relate to professional services, which are generally recognized upon completion, and maintenance, managed service or hosting arrangements that are recognized on a straight-line basis over the term of the arrangement.
	EARNINGS PER SHARE — Basic earnings per share is calculated by dividing net earnings attributable to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share reflects the potential dilution of securities that could participate in our earnings, including incremental shares issuable upon the assumed exercise of “in-the-money” stock options and other common stock equivalents during each period. We use the two-class method to allocate net income between common shares and other participating securities. For additional information, see Note 8, “Earnings Per Share”.
	CONCENTRATIONS OF RISK — Financial instruments that potentially subject us to concentrations of credit risk include cash and cash equivalents, short-term investments, accounts receivable, notes receivable and investments in direct financing and sales-type leases. Cash and cash equivalents and short-term investments are maintained principally with financial institutions in the United States, which have high credit ratings. Risk associated with our accounts receivable, notes receivable and investments in direct financing and sales-type leases is reduced by the large number of diverse industries comprising our customer base and through the ongoing evaluation of collectability of our portfolio. Our credit risk is further mitigated through the underlying collateral and whether the lease is funded with recourse or non-recourse notes payable.
	A substantial portion of our sales of product and services are from sales of Cisco, Hewlett Packard, and NetApp products, which represented 46.8%, 11.2%, and 5.5%, and 50.5%, 10.4%, and 7.4%, respectively, of our sales of product and services for the three and six months ended September 30, 2013, as compared to 49.8%, 10.0%, and 7.2%, and 51.6%, 10.1%, and 6.7%, respectively, of our sales of product and services for the three and six months ended September 30, 2012. Any changes in our vendors’ ability to provide products could have a material adverse effect on our business, results of operations and financial condition.
	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS — There were no new accounting standards issued during the three months ended September 30, 2013 that materially impacted our condensed consolidated financial statements or could materially impact our financial statements or related disclosures in a future period.

FINANCING_INVESTMENTS

FINANCING INVESTMENTS	6 Months Ended
	Sep. 30, 2013
FINANCING INVESTMENTS [Abstract]	'
FINANCING INVESTMENTS	'
	2.	FINANCING INVESTMENTS
	Our investments in leases, leased equipment and notes receivables consist of assets that we financed for our customers, which we manage as a portfolio of financing investments. Our leases to our customers are accounted for as investments in direct financing, sales-type or operating leases in accordance with Codification Topic, Leases. We also finance third-party software and services for our customers, which are classified as notes receivables. Our notes receivables are interest bearing and are often due over a period of time that corresponds with the terms of the leased products. Our financing investments consist of the following (in thousands):
			September 30,			March 31,
			2013
	Notes receivable		$	49,110		$	31,893
	Investment in direct financing and sales-type leases—net			66,229			66,243
	Investment in operating lease equipment—net			25,192			24,467
			$	140,531		$	122,603
	NOTES RECEIVABLE—NET
	Our notes receivable balance as of September 30, 2013 and March 31, 2013 consists of the following (in thousands):
			September 30,			March 31,
			2013
	Notes receivable		$	52,233		$	35,030
	Less:  Reserve for credit losses			(3,123	)		(3,137	)
	Notes receivable—net		$	49,110		$	31,893
	INVESTMENT IN DIRECT FINANCING AND SALES-TYPE LEASES—NET
	Our investment in direct financing and sales-type leases—net consists of the following (in thousands):
			September 30,			March 31,
			2013
	Minimum lease payments		$	63,529		$	64,614
	Estimated unguaranteed residual value (1)			7,796			7,557
	Initial direct costs, net of amortization (2)			658			684
	Less:  Unearned lease income			(4,856	)		(5,767	)
	Less:  Reserve for credit losses (3)			(898	)		(845	)
	Investment in direct financing and sales-type leases—net		$	66,229		$	66,243
	-1	Includes estimated unguaranteed residual values of $3,647 thousand and $3,361 thousand as of September 30, 2013 and March 31, 2013, respectively, for direct financing leases which have been sold and accounted for as sales under Codification Topic, Transfers and Servicing.
	-2	Initial direct costs are shown net of amortization of $509 thousand and $479 thousand as of September 30, 2013 and March 31, 2013, respectively.
	-3	For details on reserve for credit losses, refer to Note 4, “Reserves for Credit Losses.”
	INVESTMENT IN OPERATING LEASE EQUIPMENT—NET
	Investment in operating lease equipment—net primarily represents leases that do not qualify as direct financing leases. The components of the investment in operating lease equipment—net are as follows (in thousands):
			September 30,			March 31,
			2013
	Cost of equipment under operating leases		$	45,971		$	46,106
	Less:  Accumulated depreciation and amortization			(20,779	)		(21,639	)
	Investment in operating lease equipment—net (1)		$	25,192		$	24,467
	-1	Includes estimated unguaranteed residual values of $7,009 thousand and $7,763 thousand as of September 30, 2013 and March 31, 2013, respectively, for operating leases.
	TRANSFERS OF FINANCIAL ASSETS
	We enter into arrangements to transfer the contractual payments due under financing investments, which are accounted for as sales or secured borrowings in accordance with Codification Topic, Transfers and Servicing. For transfers accounted for as a secured borrowing, the corresponding investments serve as collateral for non-recourse notes payable. See Note 6, “Notes Payable and Credit Facility.”
	For transfers accounted for as sales, we derecognize the carrying value of the asset transferred and recognize a net gain or loss on the sale, which is presented within financing revenues in the unaudited condensed consolidated statement of operations. During the three months ended September 30, 2013 and 2012, we recognized net gains of $1.2 million and $0.5 million, respectively. Total proceeds from these sales were $34.9 million and $12.6 million for the three months ended September 30, 2013 and 2012, respectively. For the six months ended September 30, 2013 and 2012, we recognized net gains of $5.6 million and $1.7 million, respectively, and total proceeds from these sales were $122.4 million and $42.0 million, respectively.
	During the quarter ended June 30, 2013, we transferred the payments due under a note receivable to third-party lenders which were accounted for as a sale. Upon subsequent review, we identified certain forms of continuing involvement, which was completed in July 2013. Accordingly, the assignment should have been accounted for as a secured borrowing as of June 30, 2013 and subsequently met the sale criteria in July 2013. We concluded that the impact on our quarterly results for the quarter ended June 30, 2013 was not material.

GOODWILL_AND_OTHER_INTANGIBLE_

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Sep. 30, 2013
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]	'
GOODWILL AND OTHER INTANGIBLE ASSETS	'
	3	GOODWILL AND OTHER INTANGIBLE ASSETS
	Our goodwill and other intangible assets consist of the following (in thousands):
			September 30,		March 31,
			2013
	Goodwill		$	28,660	$	28,660
	Customer relationships			2,418		2,897
	Capitalized software development			1,856		1,407
			$	32,934	$	32,964
	Goodwill represents the premium paid over the fair value of the net tangible and intangible assets we have acquired in business combinations. As of September 30, 2013 and March 31, 2013, goodwill attributed to our technology and software document management reporting units was $27.6 million and $1.1 million, respectively.
	The gross carrying amount and accumulated amortization of customer relationships were $6.5 million and $4.0 million, respectively, as of September 30, 2013, and $6.5 million and $3.6 million, respectively, as of March 31, 2013. The gross carrying amount and accumulated amortization of capitalized software development costs were $2.5 million and $0.7 million, respectively, as of September 30, 2013, and $1.8 million and $0.4 million, respectively, as of March 31, 2013. Customer relationships and capitalized software development costs are amortized over their estimated useful live, which is generally between 3 to 5 years.

RESERVES_FOR_CREDIT_LOSSES

RESERVES FOR CREDIT LOSSES	6 Months Ended
	Sep. 30, 2013
RESERVES FOR CREDIT LOSSES [Abstract]	'
RESERVES FOR CREDIT LOSSES	'
	4	RESERVES FOR CREDIT LOSSES
	Activity in our reserves for credit losses for the six months ended September 30, 2013 and 2012 were as follows (in thousands):
			Accounts Receivable			Notes Receivable			Lease-Related Receivables			Total
	Balance April 1, 2013		$	1,147		$	3,137		$	845		$	5,129
	Provision for bad debts, net of recoveries			152			(14	)		53			191
	Write-offs and other			(121	)		-			-			(121	)
	Balance September 30, 2013		$	1,178		$	3,123		$	898		$	5,199
			Accounts Receivable			Notes Receivable			Lease-Related Receivables			Total
	Balance April 1, 2012		$	1,307		$	2,963		$	1,336		$	5,606
	Provision for bad debts, net of recoveries			(206	)		117			19			(70	)
	Write-offs and other			(48	)		-			(3	)		(51	)
	Balance September 30, 2012		$	1,053		$	3,080		$	1,352		$	5,485
	Our reserves for credit losses and minimum payments associated with our notes receivables and lease related receivables disaggregated on the basis of our impairment method were as follows (in thousands):
			30-Sep-13						31-Mar-13
			Notes Receivable			Lease-Related Receivables			Notes Receivable			Lease-Related Receivables
	Reserves for credit losses:
	Ending balance: collectively evaluated for impairment		$	296		$	796		$	310		$	747
	Ending balance: individually evaluated for impairment			2,827			102			2,827			98
	Ending balance		$	3,123		$	898		$	3,137		$	845
	Minimum payments:
	Ending balance: collectively evaluated for impairment		$	48,996		$	63,131		$	31,793		$	64,246
	Ending balance: individually evaluated for impairment			3,237			398			3,237			368
	Ending balance		$	52,233		$	63,529		$	35,030		$	64,614
	As of September 30, 2013, we had $3.3 million of receivables from a specific customer in bankruptcy and total reserves for credit losses of $2.8 million, which represented our estimated probable loss. As of March 31, 2013, we had $3.4 million of receivables from this customer and total reserves for credit losses of $2.8 million.
	As of September 30, 2013, the age of the recorded minimum lease payments and net credit exposure associated with our investment in direct financing and sales-type leases that are past due, disaggregated based on our internally assigned credit quality ratings (“CQR”), were as follows (in thousands):
			31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due			Total Past Due			Current		Unbilled Minimum Lease Payments		Total Minimum Lease Payments		Unearned Income			Non-Recourse Notes Payable			Net Credit Exposure
	30-Sep-13
	High CQR		$	63		$	14		$	146		$	223		$	344	$	38,388	$	38,955	$	(1,967	)	$	(6,354	)	$	30,634
	Average CQR			8			2			12			22			99		24,055		24,176		(1,508	)		(10,635	)		12,033
	Low CQR			-			-			61			61			-		337		398		(31	)		-			367
	Total			71			16			219			306			443		62,780		63,529		(3,506	)		(16,989	)		43,034
	31-Mar-13
	High CQR		$	454		$	316		$	28		$	798		$	322	$	38,278	$	39,398	$	(2,777	)	$	(10,337	)	$	26,284
	Average CQR			51			51			5			107			101		24,640		24,848		(1,596	)		(7,857	)		15,395
	Low CQR			-			-			61			61			-		307		368		(39	)		-			329
	Total			505			367			94			966			423		63,225		64,614		(4,412	)		(18,194	)		42,008
	As of September 30, 2013, the age of the recorded notes receivable balance disaggregated based on our internally assigned CQR were as follows (in thousands):
			31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due			Total Past Due			Current		Unbilled Notes Receivable		Total Notes Receivable		Non-Recourse Notes Payable			Net Credit Exposure
	30-Sep-13
	High CQR		$	33		$	33		$	4,470		$	4,536		$	225	$	39,347	$	44,108	$	(12,469	)	$	31,639
	Average CQR			-			-			-			-			723		4,165		4,888		(2,096	)		2,792
	Low CQR			-			-			791			791			-		2,446		3,237		-			3,237
	Total		$	33		$	33		$	5,261		$	5,327		$	948	$	45,958	$	52,233	$	(14,565	)	$	37,668
	31-Mar-13
	High CQR		$	1,342		$	127		$	832		$	2,301		$	3,450	$	22,097	$	27,848	$	(5,621	)	$	22,227
	Average CQR			1,379			-			-			1,379			-		2,566		3,945		(1,203	)		2,742
	Low CQR			-			-			726			726			-		2,511		3,237		-			3,237
	Total		$	2,721		$	127		$	1,558		$	4,406		$	3,450	$	27,174	$	35,030	$	(6,824	)	$	28,206
	We estimate losses on our net credit exposure to be between 0% - 5% for customers with highest CQR, as these customers are investment grade or the equivalent of investment grade. We estimate losses on our net credit exposure to be between 2% - 25% for customers with average CQR, and between 50% - 100% for customers with low CQR, which includes customers in bankruptcy.

OTHER_ASSETS_AND_ACCRUED_EXPEN

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Sep. 30, 2013
OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES [Abstract]	'
OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES	'
	5	OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES
	Our other assets and accrued expenses and other liabilities consist of the following (in thousands):
			September 30,		March 31,
			2013
	Unbilled accounts receivable		$	744	$	3,095
	Prepaid assets			4,255		2,667
	Other			5,221		3,345
	Total other assets		$	10,220	$	9,107
			September 30,		March 31,
			2013
	Accrued expenses		$	6,013	$	9,533
	Other			7,679		10,731
	Total accrued expenses and other liabilities		$	13,692	$	20,264
	Other assets include cash surrender value of life insurance policies, escrow deposits and off-lease equipment. Other liabilities include accrued taxes, deferred compensation, and lease rental payments due to third parties.

NOTES_PAYABLE_AND_CREDIT_FACIL

NOTES PAYABLE AND CREDIT FACILITY	6 Months Ended
	Sep. 30, 2013
NOTES PAYABLE AND CREDIT FACILITY [Abstract]	'
NOTES PAYABLE AND CREDIT FACILITY	'
	6	NOTES PAYABLE AND CREDIT FACILITY
	Non-recourse and recourse obligations consist of the following (in thousands):
			September 30,		March 31,
			2013
	Recourse note payable at 4.84% maturing on March 2, 2017		$	1,520	$	1,484
	Non-recourse notes payable secured by related investments in notes receivables and leases with interest rates ranging from 2.00% to 10.0% at September 30, 2013 and March 31, 2013		$	42,148	$	40,255
	Principal and interest payments on the non-recourse notes payable are generally due monthly in amounts that are approximately equal to the total payments due from the customer under the leases or notes receivable that collateralize the notes payable.  The weighted average interest rate for our non-recourse notes payable was 3.82% and 4.23%, as of September 30, 2013 and March 31, 2013, respectively. Under recourse financing, in the event of a default by a customer, the lender has recourse to the customer, the assets serving as collateral, and us. Under non-recourse financing, in the event of a default by a customer, the lender generally only has recourse against the customer, and the assets serving as collateral, but not against us.
	Our technology segment, through our subsidiary ePlus Technology, inc., finances its operations with funds generated from operations, and with a credit facility with GE Commercial Distribution Finance Corporation (“GECDF”). This facility provides short-term capital for our technology segment. There are two components of the GECDF credit facility: (1) a floor plan component and (2) an accounts receivable component. Under the floor plan component, we had outstanding balances of $80.3 million and $66.3 million as of September 30, 2013 and March 31, 2013, respectively. Under the accounts receivable component, we had no outstanding balances as of September 30, 2013 and March 31, 2013. As of September 30, 2013, the facility agreement had an aggregate limit of the two components of $175.0 million, and the accounts receivable component had a sub-limit of $30.0 million, which bears interest assessed at a rate of the One Month LIBOR plus two and one half percent.
	The credit facility has full recourse to ePlus Technology, inc. and is secured by a blanket lien against all its assets, such as receivables and inventory. Availability under the facility may be limited by the asset value of equipment we purchase or accounts receivable, and may be further limited by certain covenants and terms and conditions of the facility. These covenants include but are not limited to a minimum excess availability of the facility and minimum earnings before interest, taxes, depreciation and amortization (“EBITDA”) of ePlus Technology, inc. We were in compliance with these covenants as of September 30, 2013. In addition, the facility restricts the ability of ePlus Technology, inc. to transfer funds to its affiliates in the form of dividends, loans or advances with certain exceptions for dividends to ePlus inc. The facility also requires that financial statements of ePlus Technology, inc. be provided within 45 days of each quarter and 90 days of each fiscal year end and also includes that other operational reports be provided on a regular basis. Either party may terminate with 90 days’ advance notice. We are not, and do not believe that we are reasonably likely to be, in breach of the GECDF credit facility. In addition, we do not believe that the covenants of the GECDF credit facility materially limit our ability to undertake financing. In this regard, the covenants apply only to our subsidiary, ePlus Technology, inc. This credit facility is secured by the assets of only ePlus Technology, inc. and the guaranty as described below.
	The facility provided by GECDF requires a guaranty of $10.5 million by ePlus inc. The guaranty requires ePlus inc. to deliver its annual audited financial statements by certain dates. We have delivered the annual audited financial statements for the year ended March 31, 2013, as required. The loss of the GECDF credit facility could have a material adverse effect on our future results as we currently rely on this facility and its components for daily working capital and liquidity for our technology segment and as an operational function of our accounts payable process.
	We have an agreement with First Virginia Community Bank, (formerly 1st Commonwealth Bank of Virginia), to provide us with a $0.5 million credit facility, which matures on October 27, 2014. The credit facility is available for use by us and our affiliates and the lender has full recourse to us. Borrowings under this facility bear interest at the Wall Street Journal U.S. Prime rate plus 1%. The primary purpose of the facility is to provide letters of credit for landlords, taxing authorities and bids.  As of September 30, 2013 and March 31, 2013, we had no outstanding balance on this credit facility.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2013
COMMITMENTS AND CONTINGENCIES [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	7	COMMITMENTS AND CONTINGENCIES
	Legal Proceedings
	On May 19, 2009, we filed a complaint (the "Lawson litigation") in the United States District Court for the Eastern District of Virginia (the “trial court”) against four defendants, alleging that they used or sold products, methods, processes, services and/or systems that infringe on certain of our patents. During July and August 2009, we entered into settlement and license agreements with three of the defendants. We obtained a jury verdict against the remaining defendant, Lawson Software, Inc. (“Lawson”) on January 27, 2011. The jury unanimously found that Lawson infringed certain ePlus patents relating to electronic procurement systems, and additionally found that all ePlus patent claims tried in court were not invalid.
	On May 23, 2011, the trial court issued a permanent injunction, ordering Lawson and its successors to: immediately stop selling and servicing products relating to its electronic procurement systems that infringe our patents; cease providing any ongoing or future maintenance, training or installation of its infringing products; and refrain from publishing any literature or information that encourages the use or sale of its infringing products. Lawson appealed the trial court’s judgment, and we appealed the trial court’s evidentiary ruling which precluded us from seeking monetary damages. On November 21, 2012, the United States Court of Appeals for the Federal Circuit (the “Appeals Court”) reversed in part, vacated in part, affirmed in part, and remanded. The Appeals Court upheld the trial court’s ruling precluding us from seeking monetary damages. The Appeals Court also upheld the finding that the patent claims were not invalid and upheld, in part, the finding of infringement. On June 11, 2013, consistent with the Appeals Court’s decision, the trial court issued an Order modifying the injunction so that it would continue in full effect with respect to those configurations of Lawson’s electronic procurement systems that the Appeals Court affirmed are infringing.
	On August 16, 2013, the trial court issued an order finding, by clear and convincing evidence, that Lawson is in contempt of the trial court’s May 23, 2011, injunction, entering judgment in our favor in the amount of $18.2 million, and ordering that Lawson pay to the court a daily coercive fine in the amount of $62,362 until Lawson establishes that it is in compliance with the injunction. Lawson has appealed both the order modifying the injunction, and the order finding it in contempt. Lawson posted a bond, and collection of the judgment has been stayed pending the appeal. Briefing on the appeals is scheduled through January 2014, however, we do not know if or when the Appeals Court will hold oral arguments, or when it will issue a ruling. Additionally, upon Lawson’s request, the Appeals Court has granted a stay, pending appeal, of the daily coercive fine. However, the Appeals Court did not stay the trial court’s order to the extent that Lawson is required to immediately comply with the injunction. Court calendars and rulings are inherently unpredictable, and we cannot predict when any motion or appeal will be resolved, or the outcome thereof.
	Patent litigation is extremely complex and issues regarding a patent’s validity can arise even subsequent to a patent’s issuance.  Reexamination proceedings concerning the validity of a patent at issue in the Lawson litigation are currently ongoing, and an adverse decision in those proceedings has been issued by the United States Patent and Trademark Office’s Patent Trial and Appeal Board.  We have appealed that decision to the United States Court of Appeals for the Federal Circuit. An unfavorable decision in that appeal may adversely affect the Lawson litigation. As noted above, court calendars and rulings are inherently unpredictable, and we cannot predict when any motion or appeal will be resolved, or the outcome thereof.
	While we believe that we have a basis for our claims, these types of cases are complex in nature, are likely to have significant expenses associated with them, and we cannot predict whether we will be successful in our claim for a contempt finding or damages, whether any award ultimately received will exceed the costs incurred to pursue this matter, or how long it will take to bring this matter to resolution.
	Other Matters
	We may become party to various legal proceedings arising in the normal course of business, including preference payment claims asserted in customer bankruptcy proceedings, claims of alleged infringement of patents, trademarks, copyrights and other intellectual property rights, claims of alleged non-compliance with contract provisions, employment related claims, claims by competitors, vendors or customers, and claims related to alleged violations of laws and regulations. We accrue for costs associated with these contingencies when a loss is probable and the amount is reasonably estimable. Refer to Note 4, "Reserves for Credit Losses," for information regarding loss contingencies associated with our accounts, notes and lease-related receivables.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Sep. 30, 2013
EARNINGS PER SHARE [Abstract]	'
EARNINGS PER SHARE	'
	8	EARNINGS PER SHARE
	Basic earnings per share is computed by dividing net earnings attributable to common shares by the weighted average number of common shares outstanding for the period. Diluted net earnings per share include the potential dilution of securities that could participate in our earnings, but not securities that are anti-dilutive. Certain unvested shares of restricted stock awards (“RSAs”) contain non-forfeitable rights to dividends, whether paid or unpaid. As a result, these RSAs are considered participating securities because their holders have the right to participate in earnings with common stockholders. We use the two-class method to allocate net income between common shares and other participating securities. As of September 30, 2013, we had 45 thousand shares of RSAs that contained non-forfeitable rights to dividends, which vest over the next 9 months. In addition, we no longer grant RSAs that contain non-forfeitable rights to dividends.
	We corrected our reported earnings per share for the three and six months ended September 30, 2012. The weighted average shares outstanding used to calculate diluted earnings per common share decreased by 74 thousand and 91 thousand for the three and six months ended September 30, 2012, respectively. Basic and diluted earnings per share decreased by $0.03 and $0.02, respectively, for the three months ended September 30, 2012. Basic and diluted earnings per share decreased by $0.06 and $0.04, respectively, for the six months ended September 30, 2012.
	The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net earnings per common share as disclosed in our unaudited condensed consolidated statements of operations for the three and six months ended September 30, 2013 and September 30, 2012 (in thousands, except per share data).
			Three Months Ended				Six Months Ended
			September 30,				September 30,
			2013		2012		2013		2012
	Basic and diluted shares outstanding
	Weighted average shares outstanding — basic			7,976		7,770		7,945		7,745
	Effect of dilutive shares			44		77		62		77
	Weighted average shares outstanding — diluted			8,020		7,847		8,007		7,822
	Calculation of earnings per share - basic
	Net earnings		$	8,591	$	10,033	$	16,441	$	18,095
	Net earnings attributable to participating securities			66		234		192		497
	Net earnings attributable to common shareholders		$	8,525	$	9,799	$	16,249	$	17,598
	Earnings per share - basic		$	1.07	$	1.26	$	2.05	$	2.27
	Calculation of earnings per share - diluted
	Net earnings attributable to common shareholders— basic		$	8,525	$	9,799	$	16,249	$	17,598
	Add: undistributed earnings attributable to participating securities			-		2		1		5
	Net earnings attributable to common shareholders— diluted		$	8,525	$	9,801	$	16,250	$	17,603
	Earnings per share - diluted		$	1.06	$	1.25	$	2.03	$	2.25
	All unexercised stock options were included in the computations of diluted earnings per share for the three and six months ended September 30, 2012. As of September 30, 2013, we had no unexercised stock options.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 30, 2013
STOCKHOLDERS' EQUITY [Abstract]	'
STOCKHOLDERS' EQUITY	'
	9	STOCKHOLDERS’ EQUITY
	On August 13, 2012, our Board authorized a new share repurchase plan which authorized share repurchases up to 500,000 shares commencing on September 16, 2012, through September 15, 2013. The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes.
	During the six months ended September 30, 2013, we repurchased 62,986 shares of our outstanding common stock at an average cost of $53.92 per share for a total purchase price of $3.4 million. Since the inception of our initial repurchase program on September 20, 2001 to September 30, 2013, we have repurchased 4.7 million shares of our outstanding common stock at an average cost of $14.47 per share for a total purchase price of $68.7 million.

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2013
SHARE-BASED COMPENSATION [Abstract]	'
SHARE-BASED COMPENSATION	'
	10	SHARE-BASED COMPENSATION
	Share-Based Plans
	We have share-based awards outstanding under the following plans: (1) the Amended and Restated 1998 Stock Incentive Plan (the “Amended LTIP (2003)”), (2) the 2008 Non-Employee Director Long-Term Incentive Plan (“2008 Director LTIP”), (3) the 2008 Employee Long-Term Incentive Plan (“2008 Employee LTIP”) and (4) the 2012 Employee Long-Term Incentive Plan ("2012 Employee LTIP"). All the share-based plans defined fair market value as the previous trading day's closing price when the grant date falls on a date the stock was not traded.
	For a summary of descriptions and vesting periods of the Amended LTIP (2003), the 2008 Director LTIP, the 2008 Employee LTIP, and the 2012 Employee LTIP discussed above, refer to our 2013 Annual Report.
	Stock Option Activity
	During the three and six months ended September 30, 2013 and 2012, there were no stock options granted. As of April 1, 2013, we had 40,000 options outstanding with an average exercise price between $12.73 and $15.25. During the six months ended September 30, 2013, all 40,000 shares were exercised. As of September 30, 2013, we had no outstanding shares of stock options.
	Restricted Stock Activity
	For the six months ended September 30, 2013, we granted 8,520 restricted shares under the 2008 Director LTIP, and 77,115 restricted shares under the 2012 Employee LTIP. For the six months ended September 30, 2012, we granted 7,831 restricted shares under the 2008 Director LTIP, and 96,590 restricted shares under the 2008 Employee LTIP. A summary of the restricted shares is as follows:
			Number of Shares			Weighted Average Grant-date Fair Value
	Nonvested April 1, 2013			246,048		$	26.32
	Granted			85,635		$	57.39
	Vested			(131,348	)	$	24.39
	Nonvested September 30, 2013			200,335		$	41.03
	Upon each vesting period of the restricted stock awards, employees are subject to minimum tax withholding obligations. The 2008 Director LTIP, 2008 Employee LIIP and 2012 Employee LTIP allow us, at the participant’s election, to withhold a sufficient number of shares due to the participant to satisfy their minimum tax withholding on employee stock awards. During the six months ended September 30, 2013, we withheld 42,073 shares of common stock at a value of $2.5 million, which was included in treasury stock.
	Compensation Expense
	We recognize compensation cost for awards of restricted stock with graded vesting on a straight line basis over the requisite service period and estimate the forfeiture rate to be zero, which is based on historical experience. There are no additional conditions for vesting other than service conditions. During the three months ended September 30, 2013 and 2012, we recognized $1,068 thousand and $915 thousand, respectively, of total share-based compensation expense. During the six months ended September 30, 2013 and 2012, we recognized $1.9 million and $1.6 million, respectively, of total share-based compensation expense. Unrecognized compensation expense related to non-vested restricted stock was $7.1 million, which will be fully recognized over the next 33 months.
	We also provide our employees with a contributory 401(k) profit sharing plan. Employer contribution percentages are determined by us and are discretionary each year. The employer contributions vest pro-ratably over a four-year service period by the employees, after which all employer contributions will be fully vested. For the three months ended September 30, 2013 and 2012, our contribution expense for the plan was approximately $147 thousand and $236 thousand, respectively. For the six months ended September 30, 2013 and 2012, our contribution expense for the plan was approximately $524 thousand and $465 thousand, respectively.

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2013
INCOME TAXES [Abstract]	'
INCOME TAXES	'
	11	INCOME TAXES
	We recognize interest and penalties for uncertain tax positions. As of September 30, 2013, our gross liability related to uncertain tax positions was $316 thousand. At September 30, 2013, if the unrecognized tax benefits of $316 thousand were to be recognized, including the effect of interest, penalties and federal tax benefit, the impact would be $439 thousand. We also recognize accrued interest and penalties related to unrecognized tax benefits as a component of tax expense. We recorded interest expense of $4 thousand and $9 thousand for the three months and six months ended September 30, 2013 and 2012. We did not recognize any additional penalties. We had $206 thousand and $189 thousand accrued for the payment of interest at September 30, 2013 and 2012, respectively.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Sep. 30, 2013

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

'

FAIR VALUE OF FINANCIAL INSTRUMENTS

'

12

FAIR VALUE OF FINANCIAL INSTRUMENTS

We account for the fair values of our assets and liabilities in accordance with Codification Topic Fair Value Measurement and Disclosure. Accordingly, we established a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value. The fair value of our contingent consideration liability is calculated using the discounted cash flow approach based on significant unobservable inputs, which is considered a level 3 measurement.

The following table summarizes the fair value hierarchy of our contingent consideration liability as of March 31, 2013 (in thousands):

Fair Value Measurement Using

31-Mar-13

Quoted Prices in

Significant

Significant

Total Gains (Losses)

Active Markets

Other

Unobservable

for Identical

Observable

Inputs (Level 3)

Assets (Level 1)

Inputs (Level 2)

Liabilities:

Contingent consideration

$

918

$

-

$

-

$

918

$

-

For the six months ended September 30, 2013, the adjustment to the fair value of the contingent consideration was an increase of $355 thousand, which was presented within general and administrative expenses in our unaudited consolidated statement of operations. During the six months ended September 30, 2013, we paid $1,272 thousand in consideration to satisfy our contingent liability. As of September 30, 2013, there were no outstanding amounts due under the contingent consideration arrangement.

For the six months ended September 30, 2012, the adjustment to the fair value of the contingent consideration was a decrease of $170 thousand, which was presented as a reduction to general and administrative expenses in our unaudited consolidated statement of operations.

SEGMENT_REPORTING

SEGMENT REPORTING	6 Months Ended
	Sep. 30, 2013
SEGMENT REPORTING [Abstract]	'
SEGMENT REPORTING	'
	13	SEGMENT REPORTING
	We manage our business segments on the basis of the products and services offered. Our reportable segments consist of our technology and financing segments. The technology segment sells information technology equipment and software and related services to corporate and governmental customers on a nationwide basis. The technology segment also provides Internet-based business-to-business supply chain management solutions for information technology and other operating resources. The financing segment offers lease-financing solutions to corporations and governmental entities nationwide. We evaluate segment performance on the basis of total revenue, segment earnings and earnings before provision for income taxes.
	Both segments utilize our proprietary software and services within the organization. Our reportable segment information is as follows (in thousands):
			Three Months Ended September 30, 2013						Three Months Ended September 30, 2012
			Technology		Financing		Total		Technology		Financing		Total
	Sales of product and services		$	261,283	$	-	$	261,283	$	250,178	$	-	$	250,178
	Financing revenue			-		8,001		8,001		-		7,413		7,413
	Fee and other income			1,829		16		1,845		1,591		869		2,460
	Total revenues			263,112		8,017		271,129		251,769		8,282		260,051
	Cost of sales, product and services			214,854		-		214,854		205,199		-		205,199
	Direct lease costs			-		3,495		3,495		-		2,461		2,461
	Professional and other fees			1,580		328		1,908		2,260		447		2,707
	Salaries and benefits			27,244		2,441		29,685		24,414		2,505		26,919
	General and administrative expenses			5,701		358		6,059		5,011		400		5,411
	Interest and financing costs			26		407		433		21		425		446
	Total costs and expenses			249,405		7,029		256,434		236,905		6,238		243,143
	Earnings before provision for income taxes		$	13,707	$	988	$	14,695	$	14,864	$	2,044	$	16,908
	Total assets		$	269,149	$	196,152	$	465,301	$	250,138	$	190,656	$	440,794
			Six Months Ended September 30, 2013						Six Months Ended September 30, 2012
			Technology		Financing		Total		Technology		Financing		Total
	Sales of product and services		$	508,320	$	-	$	508,320	$	484,460	$	-	$	484,460
	Financing revenue			-		18,761		18,761		-		15,313		15,313
	Fee and other income			3,286		79		3,365		3,593		1,409		5,002
	Total revenues			511,606		18,840		530,446		488,053		16,722		504,775
	Cost of sales, product and services			418,184		-		418,184		399,590		-		399,590
	Direct lease costs			-		6,748		6,748		-		4,704		4,704
	Professional and other fees			4,443		703		5,146		4,763		1,057		5,820
	Salaries and benefits			55,142		5,225		60,367		48,496		4,777		53,273
	General and administrative expenses			10,515		545		11,060		9,450		616		10,066
	Interest and financing costs			46		847		893		52		799		851
	Total costs and expenses			488,330		14,068		502,398		462,351		11,953		474,304
	Earnings before provision for income taxes		$	23,276	$	4,772	$	28,048	$	25,702	$	4,769	$	30,471
	Total assets		$	269,149	$	196,152	$	465,301	$	250,138	$	190,656	$	440,794

ORGANIZATION_AND_SUMMARY_OF_SI1

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2013
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION — Our company was founded in 1990 and is a Delaware corporation. ePlus inc. is sometimes referred to in this Quarterly Report on Form 10-Q as “we,” “our,” “us,” “ourselves,” or “ePlus.” The unaudited condensed consolidated financial statements include the accounts of ePlus inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.
INTERIM FINANCIAL STATEMENTS	'
	INTERIM FINANCIAL STATEMENTS — The condensed consolidated financial statements for the three and six months ended September 30, 2013 and 2012 are unaudited, but include all normal and recurring adjustments that, in the opinion of management, are necessary for a fair presentation of our financial position, results of operations, changes in equity and cash flows for such periods. Operating results for the three and six months ended September 30, 2013 and 2012 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2014 or any other future period. These unaudited condensed consolidated financial statements do not include all disclosures required by the accounting principles generally accepted in the United States (“U.S. GAAP”) for annual financial statements. Our audited consolidated financial statements are contained in our annual report on Form 10-K for the year ended March 31, 2013 (“2013 Annual Report”), which should be read in conjunction with these interim financial statements.
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS — Management has evaluated subsequent events after the balance sheet date through the date our financial statements are issued.
USE OF ESTIMATES	'
	USE OF ESTIMATES — The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Estimates are used when accounting for items and matters including, but not limited to, revenue recognition, residual values, vendor consideration, lease classification, goodwill and intangibles, reserves for credit losses, inventory obsolescence, and the recognition and measurement of income tax assets and other provisions and contingencies. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates.
ACCOUNTS RECEIVABLE - TRADE	'
	ACCOUNTS RECEIVABLE—TRADE — Trade accounts receivable are recorded at the invoiced amount and typically do not bear interest. The Company provides allowances for doubtful accounts related to accounts receivable for estimated losses resulting from the inability of its customers to make required payments. Our reserve for credit losses was $1.0 million as of September 30, 2013 and March 31, 2013.
ACCOUNTS RECEIVABLE - OTHER	'
	ACCOUNTS RECEIVABLE—OTHER — Accounts receivable—other consists of advances and payments made on behalf of our customers, as well as amounts due from vendors. Prior to the effective date of a lease or financing arrangement with our customer, any payments made by our financing segment for products and services for our customers are presented in accounts receivable—other as we generally act as an agent of our customer until the financing arrangement is accepted by our customer. We also receive incentives from vendors, including consideration pursuant to volume sales incentive programs, volume purchase incentive programs and shared marketing expense programs. These incentives generally relate to vendor programs with specified performance requirements, and estimated amounts earned but not paid by the vendors are included in accounts receivable—other. Our reserve for credit losses was $0.1 million as of September 30, 2013 and March 31, 2013.
REVENUE RECOGNITION	'
	REVENUE RECOGNITION — The majority of our revenues are derived from the following sources: sales of products, sales of third-party software, sales of services provided by us, sales of third-party maintenance and services, financing revenues and sales of our software. For all these revenue sources, we determine whether we are the principal or agent in accordance with Accounting Standards Codification (“Codification”) Topic, Revenue Recognition, Subtopic Principal Agent Considerations. Our revenue recognition policies vary based upon these revenue sources.
	For the sale of third party software assurance, maintenance and services we concluded that we are acting as an agent and recognize revenue for these transactions on a net basis at the date of sale, which is presented within sales of products and services in our unaudited condensed consolidated statements of operations. Gross billings for all products and services for the three months ended September 30, 2013 and September 30, 2012 were $321.2 million and $318.8 million, respectively. Gross billings for all products and services for the six months ended September 30, 2013 and September 30, 2012 were $624.4 million and $597.6 million, respectively.
DEFERRED COSTS AND DEFERRED REVENUE	'
	DEFERRED COSTS AND DEFERRED REVENUE – Deferred costs include internal and third party costs associated with deferred revenue arrangements. Deferred revenue relate to professional services, which are generally recognized upon completion, and maintenance, managed service or hosting arrangements that are recognized on a straight-line basis over the term of the arrangement.
EARNINGS PER SHARE	'
	EARNINGS PER SHARE — Basic earnings per share is calculated by dividing net earnings attributable to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share reflects the potential dilution of securities that could participate in our earnings, including incremental shares issuable upon the assumed exercise of “in-the-money” stock options and other common stock equivalents during each period. We use the two-class method to allocate net income between common shares and other participating securities. For additional information, see Note 8, “Earnings Per Share”.
CONCENTRATIONS OF RISK	'
	CONCENTRATIONS OF RISK — Financial instruments that potentially subject us to concentrations of credit risk include cash and cash equivalents, short-term investments, accounts receivable, notes receivable and investments in direct financing and sales-type leases. Cash and cash equivalents and short-term investments are maintained principally with financial institutions in the United States, which have high credit ratings. Risk associated with our accounts receivable, notes receivable and investments in direct financing and sales-type leases is reduced by the large number of diverse industries comprising our customer base and through the ongoing evaluation of collectability of our portfolio. Our credit risk is further mitigated through the underlying collateral and whether the lease is funded with recourse or non-recourse notes payable.
	A substantial portion of our sales of product and services are from sales of Cisco, Hewlett Packard, and NetApp products, which represented 46.8%, 11.2%, and 5.5%, and 50.5%, 10.4%, and 7.4%, respectively, of our sales of product and services for the three and six months ended September 30, 2013, as compared to 49.8%, 10.0%, and 7.2%, and 51.6%, 10.1%, and 6.7%, respectively, of our sales of product and services for the three and six months ended September 30, 2012. Any changes in our vendors’ ability to provide products could have a material adverse effect on our business, results of operations and financial condition.
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS	'
	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS — There were no new accounting standards issued during the three months ended September 30, 2013 that materially impacted our condensed consolidated financial statements or could materially impact our financial statements or related disclosures in a future period.

FINANCING_INVESTMENTS_Tables

FINANCING INVESTMENTS (Tables)	6 Months Ended
	Sep. 30, 2013
FINANCING INVESTMENTS [Abstract]	'
Components of Notes Receivable Net and Investments in Leases	'
	Our financing investments consist of the following (in thousands):
			September 30,			March 31,
			2013
	Notes receivable		$	49,110		$	31,893
	Investment in direct financing and sales-type leases—net			66,229			66,243
	Investment in operating lease equipment—net			25,192			24,467
			$	140,531		$	122,603
Schedule of Notes Receivable	'
	Our notes receivable balance as of September 30, 2013 and March 31, 2013 consists of the following (in thousands):
			September 30,			March 31,
			2013
	Notes receivable		$	52,233		$	35,030
	Less:  Reserve for credit losses			(3,123	)		(3,137	)
	Notes receivable—net		$	49,110		$	31,893
Investment in Direct Financing and Sales-type Leases - Net	'
	Our investment in direct financing and sales-type leases—net consists of the following (in thousands):
			September 30,			March 31,
			2013
	Minimum lease payments		$	63,529		$	64,614
	Estimated unguaranteed residual value (1)			7,796			7,557
	Initial direct costs, net of amortization (2)			658			684
	Less:  Unearned lease income			(4,856	)		(5,767	)
	Less:  Reserve for credit losses (3)			(898	)		(845	)
	Investment in direct financing and sales-type leases—net		$	66,229		$	66,243
	-1	Includes estimated unguaranteed residual values of $3,647 thousand and $3,361 thousand as of September 30, 2013 and March 31, 2013, respectively, for direct financing leases which have been sold and accounted for as sales under Codification Topic, Transfers and Servicing.
	-2	Initial direct costs are shown net of amortization of $509 thousand and $479 thousand as of September 30, 2013 and March 31, 2013, respectively.
	-3	For details on reserve for credit losses, refer to Note 4, “Reserves for Credit Losses.”
Investment in Operating Lease Equipment - Net	'
	The components of the investment in operating lease equipment—net are as follows (in thousands):
			September 30,			March 31,
			2013
	Cost of equipment under operating leases		$	45,971		$	46,106
	Less:  Accumulated depreciation and amortization			(20,779	)		(21,639	)
	Investment in operating lease equipment—net (1)		$	25,192		$	24,467
	-1	Includes estimated unguaranteed residual values of $7,009 thousand and $7,763 thousand as of September 30, 2013 and March 31, 2013, respectively, for operating leases.

GOODWILL_AND_OTHER_INTANGIBLE_1

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Sep. 30, 2013
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]	'
Components of Goodwill and Other Intangible Assets	'
	Our goodwill and other intangible assets consist of the following (in thousands):
		September 30,		March 31,
		2013
	Goodwill	$	28,660	$	28,660
	Customer relationships		2,418		2,897
	Capitalized software development		1,856		1,407
		$	32,934	$	32,964

RESERVES_FOR_CREDIT_LOSSES_Tab

RESERVES FOR CREDIT LOSSES (Tables)	6 Months Ended
	Sep. 30, 2013
RESERVES FOR CREDIT LOSSES [Abstract]	'
Activity in Reserves for Credit Losses	'
	Activity in our reserves for credit losses for the six months ended September 30, 2013 and 2012 were as follows (in thousands):
		Accounts Receivable			Notes Receivable			Lease-Related Receivables			Total
	Balance April 1, 2013	$	1,147		$	3,137		$	845		$	5,129
	Provision for bad debts, net of recoveries		152			(14	)		53			191
	Write-offs and other		(121	)		-			-			(121	)
	Balance September 30, 2013	$	1,178		$	3,123		$	898		$	5,199
		Accounts Receivable			Notes Receivable			Lease-Related Receivables			Total
	Balance April 1, 2012	$	1,307		$	2,963		$	1,336		$	5,606
	Provision for bad debts, net of recoveries		(206	)		117			19			(70	)
	Write-offs and other		(48	)		-			(3	)		(51	)
	Balance September 30, 2012	$	1,053		$	3,080		$	1,352		$	5,485
Reserve for Credit Losses and Minimum Lease Payments Associated with Notes Receivable and Investment in Direct Financing and Sales-type Lease Balances Disaggregated on the Basis of Impairment Method	'
	Our reserves for credit losses and minimum payments associated with our notes receivables and lease related receivables disaggregated on the basis of our impairment method were as follows (in thousands):
		30-Sep-13						31-Mar-13
		Notes Receivable			Lease-Related Receivables			Notes Receivable			Lease-Related Receivables
	Reserves for credit losses:
	Ending balance: collectively evaluated for impairment	$	296		$	796		$	310		$	747
	Ending balance: individually evaluated for impairment		2,827			102			2,827			98
	Ending balance	$	3,123		$	898		$	3,137		$	845
	Minimum payments:
	Ending balance: collectively evaluated for impairment	$	48,996		$	63,131		$	31,793		$	64,246
	Ending balance: individually evaluated for impairment		3,237			398			3,237			368
	Ending balance	$	52,233		$	63,529		$	35,030		$	64,614
Balance Disaggregated Based on Internally Assigned CQR	'
	As of September 30, 2013, the age of the recorded minimum lease payments and net credit exposure associated with our investment in direct financing and sales-type leases that are past due, disaggregated based on our internally assigned credit quality ratings (“CQR”), were as follows (in thousands):
		31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due			Total Past Due			Current		Unbilled Minimum Lease Payments		Total Minimum Lease Payments		Unearned Income			Non-Recourse Notes Payable			Net Credit Exposure
	30-Sep-13
	High CQR	$	63		$	14		$	146		$	223		$	344	$	38,388	$	38,955	$	(1,967	)	$	(6,354	)	$	30,634
	Average CQR		8			2			12			22			99		24,055		24,176		(1,508	)		(10,635	)		12,033
	Low CQR		-			-			61			61			-		337		398		(31	)		-			367
	Total		71			16			219			306			443		62,780		63,529		(3,506	)		(16,989	)		43,034
	31-Mar-13
	High CQR	$	454		$	316		$	28		$	798		$	322	$	38,278	$	39,398	$	(2,777	)	$	(10,337	)	$	26,284
	Average CQR		51			51			5			107			101		24,640		24,848		(1,596	)		(7,857	)		15,395
	Low CQR		-			-			61			61			-		307		368		(39	)		-			329
	Total		505			367			94			966			423		63,225		64,614		(4,412	)		(18,194	)		42,008
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR	'
	As of September 30, 2013, the age of the recorded notes receivable balance disaggregated based on our internally assigned CQR were as follows (in thousands):
		31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due			Total Past Due			Current		Unbilled Notes Receivable		Total Notes Receivable		Non-Recourse Notes Payable			Net Credit Exposure
	30-Sep-13
	High CQR	$	33		$	33		$	4,470		$	4,536		$	225	$	39,347	$	44,108	$	(12,469	)	$	31,639
	Average CQR		-			-			-			-			723		4,165		4,888		(2,096	)		2,792
	Low CQR		-			-			791			791			-		2,446		3,237		-			3,237
	Total	$	33		$	33		$	5,261		$	5,327		$	948	$	45,958	$	52,233	$	(14,565	)	$	37,668
	31-Mar-13
	High CQR	$	1,342		$	127		$	832		$	2,301		$	3,450	$	22,097	$	27,848	$	(5,621	)	$	22,227
	Average CQR		1,379			-			-			1,379			-		2,566		3,945		(1,203	)		2,742
	Low CQR		-			-			726			726			-		2,511		3,237		-			3,237
	Total	$	2,721		$	127		$	1,558		$	4,406		$	3,450	$	27,174	$	35,030	$	(6,824	)	$	28,206

OTHER_ASSETS_AND_ACCRUED_EXPEN1

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Sep. 30, 2013
OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES [Abstract]	'
Other Assets and Accrued Expenses and Other Liabilities	'
	Our other assets and accrued expenses and other liabilities consist of the following (in thousands):
		September 30,		March 31,
		2013
	Unbilled accounts receivable	$	744	$	3,095
	Prepaid assets		4,255		2,667
	Other		5,221		3,345
	Total other assets	$	10,220	$	9,107
		September 30,		March 31,
		2013
	Accrued expenses	$	6,013	$	9,533
	Other		7,679		10,731
	Total accrued expenses and other liabilities	$	13,692	$	20,264

NOTES_PAYABLE_AND_CREDIT_FACIL1

NOTES PAYABLE AND CREDIT FACILITY (Tables)	6 Months Ended
	Sep. 30, 2013
NOTES PAYABLE AND CREDIT FACILITY [Abstract]	'
Non-recourse and Recourse Obligations	'
	Non-recourse and recourse obligations consist of the following (in thousands):
		September 30,		March 31,
		2013
	Recourse note payable at 4.84% maturing on March 2, 2017	$	1,520	$	1,484
	Non-recourse notes payable secured by related investments in notes receivables and leases with interest rates ranging from 2.00% to 10.0% at September 30, 2013 and March 31, 2013	$	42,148	$	40,255

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2013
EARNINGS PER SHARE [Abstract]	'
Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share	'
	The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net earnings per common share as disclosed in our unaudited condensed consolidated statements of operations for the three and six months ended September 30, 2013 and September 30, 2012 (in thousands, except per share data).
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Basic and diluted shares outstanding
	Weighted average shares outstanding — basic		7,976		7,770		7,945		7,745
	Effect of dilutive shares		44		77		62		77
	Weighted average shares outstanding — diluted		8,020		7,847		8,007		7,822
	Calculation of earnings per share - basic
	Net earnings	$	8,591	$	10,033	$	16,441	$	18,095
	Net earnings attributable to participating securities		66		234		192		497
	Net earnings attributable to common shareholders	$	8,525	$	9,799	$	16,249	$	17,598
	Earnings per share - basic	$	1.07	$	1.26	$	2.05	$	2.27
	Calculation of earnings per share - diluted
	Net earnings attributable to common shareholders— basic	$	8,525	$	9,799	$	16,249	$	17,598
	Add: undistributed earnings attributable to participating securities		-		2		1		5
	Net earnings attributable to common shareholders— diluted	$	8,525	$	9,801	$	16,250	$	17,603
	Earnings per share - diluted	$	1.06	$	1.25	$	2.03	$	2.25

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2013
SHARE-BASED COMPENSATION [Abstract]	'
Summary of Nonvested Restricted Shares	'
	For the six months ended September 30, 2013, we granted 8,520 restricted shares under the 2008 Director LTIP, and 77,115 restricted shares under the 2012 Employee LTIP. For the six months ended September 30, 2012, we granted 7,831 restricted shares under the 2008 Director LTIP, and 96,590 restricted shares under the 2008 Employee LTIP. A summary of the restricted shares is as follows:
		Number of Shares			Weighted Average Grant-date Fair Value
	Nonvested April 1, 2013		246,048		$	26.32
	Granted		85,635		$	57.39
	Vested		(131,348	)	$	24.39
	Nonvested September 30, 2013		200,335		$	41.03

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Sep. 30, 2013
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]	'
Fair Value Hierarchy of Contingent Liability	'
	The following table summarizes the fair value hierarchy of our contingent consideration liability as of March 31, 2013 (in thousands):
				Fair Value Measurement Using
		31-Mar-13		Quoted Prices in		Significant		Significant		Total Gains (Losses)
				Active Markets		Other		Unobservable
				for Identical		Observable		Inputs (Level 3)
				Assets (Level 1)		Inputs (Level 2)
	Liabilities:
	Contingent consideration	$	918	$	-	$	-	$	918	$	-

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	6 Months Ended
	Sep. 30, 2013
SEGMENT REPORTING [Abstract]	'
Segment Reporting Information, by Reportable Segment	'
	Both segments utilize our proprietary software and services within the organization. Our reportable segment information is as follows (in thousands):
		Three Months Ended September 30, 2013						Three Months Ended September 30, 2012
		Technology		Financing		Total		Technology		Financing		Total
	Sales of product and services	$	261,283	$	-	$	261,283	$	250,178	$	-	$	250,178
	Financing revenue		-		8,001		8,001		-		7,413		7,413
	Fee and other income		1,829		16		1,845		1,591		869		2,460
	Total revenues		263,112		8,017		271,129		251,769		8,282		260,051
	Cost of sales, product and services		214,854		-		214,854		205,199		-		205,199
	Direct lease costs		-		3,495		3,495		-		2,461		2,461
	Professional and other fees		1,580		328		1,908		2,260		447		2,707
	Salaries and benefits		27,244		2,441		29,685		24,414		2,505		26,919
	General and administrative expenses		5,701		358		6,059		5,011		400		5,411
	Interest and financing costs		26		407		433		21		425		446
	Total costs and expenses		249,405		7,029		256,434		236,905		6,238		243,143
	Earnings before provision for income taxes	$	13,707	$	988	$	14,695	$	14,864	$	2,044	$	16,908
	Total assets	$	269,149	$	196,152	$	465,301	$	250,138	$	190,656	$	440,794
		Six Months Ended September 30, 2013						Six Months Ended September 30, 2012
		Technology		Financing		Total		Technology		Financing		Total
	Sales of product and services	$	508,320	$	-	$	508,320	$	484,460	$	-	$	484,460
	Financing revenue		-		18,761		18,761		-		15,313		15,313
	Fee and other income		3,286		79		3,365		3,593		1,409		5,002
	Total revenues		511,606		18,840		530,446		488,053		16,722		504,775
	Cost of sales, product and services		418,184		-		418,184		399,590		-		399,590
	Direct lease costs		-		6,748		6,748		-		4,704		4,704
	Professional and other fees		4,443		703		5,146		4,763		1,057		5,820
	Salaries and benefits		55,142		5,225		60,367		48,496		4,777		53,273
	General and administrative expenses		10,515		545		11,060		9,450		616		10,066
	Interest and financing costs		46		847		893		52		799		851
	Total costs and expenses		488,330		14,068		502,398		462,351		11,953		474,304
	Earnings before provision for income taxes	$	23,276	$	4,772	$	28,048	$	25,702	$	4,769	$	30,471
	Total assets	$	269,149	$	196,152	$	465,301	$	250,138	$	190,656	$	440,794

ORGANIZATION_AND_SUMMARY_OF_SI2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'	'	'	'	'
Gross billings for all products and services	$321.20	$38.80	$624.40	$597.60	'
Accounts receivable - trade, reserve for credit losses	1	'	1	'	1
Accounts receivable - other, reserve for credit losses	$0.10	'	$0.10	'	$0.10
Sales Revenue, Goods and Services [Member] | Cisco [Member]	'	'	'	'	'
CONCENTRATION OF RISK [Abstract]	'	'	'	'	'
Percentage of concentration risk (in hundredths)	46.80%	49.80%	50.50%	51.60%	'
Sales Revenue, Goods and Services [Member] | Hewlett Packard [Member]	'	'	'	'	'
CONCENTRATION OF RISK [Abstract]	'	'	'	'	'
Percentage of concentration risk (in hundredths)	11.20%	10.00%	10.40%	10.10%	'
Sales Revenue, Goods and Services [Member] | NetApp [Member]	'	'	'	'	'
CONCENTRATION OF RISK [Abstract]	'	'	'	'	'
Percentage of concentration risk (in hundredths)	5.50%	7.20%	7.40%	6.70%	'

FINANCING_INVESTMENTS_Details

FINANCING INVESTMENTS (Details) (USD $)	3 Months Ended			6 Months Ended
	Sep. 30, 2013		Sep. 30, 2012	Sep. 30, 2013		Sep. 30, 2012	Mar. 31, 2013		Mar. 31, 2012
Investment in notes, leases and leased equipment [Abstract]	'		'	'		'	'		'
Investment in direct financing and sales-type leases - net	$66,229,000		'	$66,229,000		'	$66,243,000		'
Investment in operating lease equipment - net	25,192,000	[1]	'	25,192,000	[1]	'	24,467,000	[1]	'
Notes receivable and Investment in leases and leased equipment, net	140,531,000		'	140,531,000		'	122,603,000		'
Notes Receivable - Net [Abstract]	'		'	'		'	'		'
Less: Reserve for credit losses	-5,199,000		-5,485,000	-5,199,000		-5,485,000	-5,129,000		-5,606,000
Notes receivable - net	49,110,000		'	49,110,000		'	31,893,000		'
INVESTMENT IN DIRECT FINANCING AND SALES-TYPE LEASES - NET [Abstract]	'		'	'		'	'		'
Minimum lease payments	63,529,000		'	63,529,000		'	64,614,000		'
Estimated unguaranteed residual value	7,796,000	[2]	'	7,796,000	[2]	'	7,557,000	[2]	'
Initial direct costs, net of amortization	658,000	[3]	'	658,000	[3]	'	684,000	[3]	'
Less: Unearned lease income	-4,856,000		'	-4,856,000		'	-5,767,000		'
Less: Reserve for credit losses	-898,000	[4]	'	-898,000	[4]	'	-845,000	[4]	'
Investment in direct financing and sales-type leases - net	66,229,000		'	66,229,000		'	66,243,000		'
Estimated unguaranteed residual values for direct financing lease	3,647,000		'	3,647,000		'	3,361,000		'
Accumulated amortization of initial direct cost	509,000		'	509,000		'	479,000		'
Gain (Loss) on sale of financing receivables	1,200,000		500,000	5,600,000		1,700,000	'		'
Proceeds from sale of financing receivables	34,900,000		12,600,000	122,400,000		42,000,000	'		'
Investment in operating lease equipment - net [Abstract]	'		'	'		'	'		'
Cost of equipment under operating lease	45,971,000		'	45,971,000		'	46,106,000		'
Less: Accumulated depreciation and amortization	-20,779,000		'	-20,779,000		'	-21,639,000		'
Investment in operating lease equipment - net	25,192,000	[1]	'	25,192,000	[1]	'	24,467,000	[1]	'
Unguaranteed residual value of operating lease equipment net	7,009,000		'	7,009,000		'	7,763,000		'
Notes Receivable [Member]	'		'	'		'	'		'
Notes Receivable - Net [Abstract]	'		'	'		'	'		'
Notes receivable	52,233,000		'	52,233,000		'	35,030,000		'
Less: Reserve for credit losses	-3,123,000		-3,080,000	-3,123,000		-3,080,000	-3,137,000		-2,963,000
INVESTMENT IN DIRECT FINANCING AND SALES-TYPE LEASES - NET [Abstract]	'		'	'		'	'		'
Minimum lease payments	$52,233,000		'	$52,233,000		'	$35,030,000		'
[1]	Includes estimated unguaranteed residual values of $7,009 thousand and $7,763 thousand as of September 30, 2013 and March 31, 2013, respectively, for operating leases.
[2]	Includes estimated unguaranteed residual values of $3,647 thousand and $3,361 thousand as of September 30, 2013 and March 31, 2013, respectively, for direct financing leases which have been sold and accounted for as sales under Codification Topic, Transfers and Servicing.
[3]	Initial direct costs are shown net of amortization of $509 thousand and $479 thousand as of September 30, 2013 and March 31, 2013, respectively.
[4]	For details on reserve for credit losses, refer to Note 4, bReserves for Credit Losses.b

GOODWILL_AND_OTHER_INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Mar. 31, 2013
			Customer Relationships [Member]	Customer Relationships [Member]	Capitalized Software Development [Member]	Capitalized Software Development [Member]	Capitalized Software Development [Member]	Capitalized Software Development [Member]	Technology Sales Business Segment [Member]	Technology Sales Business Segment [Member]
							Minimum [Member]	Maximum [Member]
Goodwill [Line Items]	'	'	'	'	'	'	'	'	'	'
Goodwill	$28,660,000	$28,660,000	'	'	'	'	'	'	$27,600,000	$1,100,000
Goodwill and other intangible assets	32,934,000	32,964,000	'	'	'	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'	'	'	'	'
Intangible assets	'	'	2,418,000	2,897,000	1,856,000	1,407,000	'	'	'	'
Gross carrying amount	'	'	6,500,000	6,500,000	2,500,000	1,800,000	'	'	'	'
Accumulated amortization	'	'	$4,000,000	$3,600,000	$700,000	$400,000	'	'	'	'
Estimated useful life	'	'	'	'	'	'	'3 years	'5 years	'	'

RESERVES_FOR_CREDIT_LOSSES_Det

RESERVES FOR CREDIT LOSSES (Details) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
Activity in reserves for credit losses [Roll Forward]	'	'	'
Balance	$5,129,000	$5,606,000	'
Provision for bad debts, net of recoveries	191,000	-70,000	'
Write-offs and other	-121,000	-51,000	'
Balance	5,199,000	5,485,000	'
Accounts Receivable [Member]	'	'	'
Activity in reserves for credit losses [Roll Forward]	'	'	'
Balance	1,147,000	1,307,000	'
Provision for bad debts, net of recoveries	152,000	-206,000	'
Write-offs and other	-121,000	-48,000	'
Balance	1,178,000	1,053,000	'
Notes Receivable [Member]	'	'	'
Activity in reserves for credit losses [Roll Forward]	'	'	'
Balance	3,137,000	2,963,000	'
Provision for bad debts, net of recoveries	-14,000	117,000	'
Write-offs and other	0	0	'
Balance	3,123,000	3,080,000	'
Reserve for credit losses: [Abstract]	'	'	'
Ending balance: collectively evaluated for impairment	296,000	'	310,000
Ending balance: individually evaluated for impairment	2,827,000	'	2,827,000
Minimum lease payments: [Abstract]	'	'	'
Ending balance: collectively evaluated for impairment	48,996,000	'	31,793,000
Ending balance: individually evaluated for impairment	3,237,000	'	3,237,000
Ending balance	52,233,000	'	35,030,000
Lease-Related Receivables [Member]	'	'	'
Activity in reserves for credit losses [Roll Forward]	'	'	'
Balance	845,000	1,336,000	'
Provision for bad debts, net of recoveries	53,000	19,000	'
Write-offs and other	0	-3,000	'
Balance	898,000	1,352,000	'
Reserve for credit losses: [Abstract]	'	'	'
Ending balance: collectively evaluated for impairment	796,000	'	747,000
Ending balance: individually evaluated for impairment	102,000	'	98,000
Minimum lease payments: [Abstract]	'	'	'
Ending balance: collectively evaluated for impairment	63,131,000	'	64,246,000
Ending balance: individually evaluated for impairment	398,000	'	368,000
Ending balance	63,529,000	'	64,614,000
Specific Customer in Bankruptcy [Member]	'	'	'
Activity in reserves for credit losses [Roll Forward]	'	'	'
Balance	'	'	2,800,000
Balance	2,800,000	'	2,800,000
Minimum lease payments: [Abstract]	'	'	'
Notes Receivable	$3,300,000	'	$3,400,000

RESERVES_FOR_CREDIT_LOSSES_CQR

RESERVES FOR CREDIT LOSSES, CQR (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Financing Receivable, Recorded Investment [Line Items]	'	'
Total Minimum Lease Payments	$63,529	$64,614
Investment in direct financing and sales-type leases that are past due [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	71	505
61-90 Days Past Due	16	367
Greater Than 90 Days Past Due	219	94
Total Past Due	306	966
Current	443	423
Unbilled Minimum Lease Payments	62,780	63,225
Total Minimum Lease Payments	63,529	64,614
Unearned Income	-3,506	-4,412
Non-Recourse Notes Payable	-16,989	-18,194
Net Credit Exposure	43,034	42,008
Notes Receivable [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	33	2,721
61-90 Days Past Due	33	127
Greater Than 90 Days Past Due	5,261	1,558
Total Past Due	5,327	4,406
Current	948	3,450
Unbilled Minimum Lease Payments	45,958	27,174
Total Minimum Lease Payments	52,233	35,030
Non-Recourse Notes Payable	-14,565	-6,824
Net Credit Exposure	37,668	28,206
High CQR [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
Losses on net credit exposure, lower limit (in hundredths)	0.00%	'
Losses on net credit exposure, upper limit (in hundredths)	5.00%	'
High CQR [Member] | Investment in direct financing and sales-type leases that are past due [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	63	454
61-90 Days Past Due	14	316
Greater Than 90 Days Past Due	146	28
Total Past Due	223	798
Current	344	322
Unbilled Minimum Lease Payments	38,388	38,278
Total Minimum Lease Payments	38,955	39,398
Unearned Income	-1,967	-2,777
Non-Recourse Notes Payable	-6,354	-10,337
Net Credit Exposure	30,634	26,284
High CQR [Member] | Notes Receivable [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	33	1,342
61-90 Days Past Due	33	127
Greater Than 90 Days Past Due	4,470	832
Total Past Due	4,536	2,301
Current	225	3,450
Unbilled Minimum Lease Payments	39,347	22,097
Total Minimum Lease Payments	44,108	27,848
Non-Recourse Notes Payable	-12,469	-5,621
Net Credit Exposure	31,639	22,227
Average CQR [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
Losses on net credit exposure, lower limit (in hundredths)	2.00%	'
Losses on net credit exposure, upper limit (in hundredths)	25.00%	'
Average CQR [Member] | Investment in direct financing and sales-type leases that are past due [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	8	51
61-90 Days Past Due	2	51
Greater Than 90 Days Past Due	12	5
Total Past Due	22	107
Current	99	101
Unbilled Minimum Lease Payments	24,055	24,640
Total Minimum Lease Payments	24,176	24,848
Unearned Income	-1,508	-1,596
Non-Recourse Notes Payable	-10,635	-7,857
Net Credit Exposure	12,033	15,395
Average CQR [Member] | Notes Receivable [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	0	1,379
61-90 Days Past Due	0	0
Greater Than 90 Days Past Due	0	0
Total Past Due	0	1,379
Current	723	0
Unbilled Minimum Lease Payments	4,165	2,566
Total Minimum Lease Payments	4,888	3,945
Non-Recourse Notes Payable	-2,096	-1,203
Net Credit Exposure	2,792	2,742
Low CQR [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
Losses on net credit exposure, lower limit (in hundredths)	50.00%	'
Losses on net credit exposure, upper limit (in hundredths)	100.00%	'
Low CQR [Member] | Investment in direct financing and sales-type leases that are past due [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	0	0
61-90 Days Past Due	0	0
Greater Than 90 Days Past Due	61	61
Total Past Due	61	61
Current	0	0
Unbilled Minimum Lease Payments	337	307
Total Minimum Lease Payments	398	368
Unearned Income	-31	-39
Non-Recourse Notes Payable	0	0
Net Credit Exposure	367	329
Low CQR [Member] | Notes Receivable [Member]	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'
31-60 Days Past Due	0	0
61-90 Days Past Due	0	0
Greater Than 90 Days Past Due	791	726
Total Past Due	791	726
Current	0	0
Unbilled Minimum Lease Payments	2,446	2,511
Total Minimum Lease Payments	3,237	3,237
Non-Recourse Notes Payable	0	0
Net Credit Exposure	$3,237	$3,237

OTHER_ASSETS_AND_ACCRUED_EXPEN2

OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Other Assets [Abstract]	'	'
Unbilled accounts receivable	$744	$3,095
Prepaid assets	4,255	2,667
Other	5,221	3,345
Total other assets	10,220	9,107
Accrued expenses and other liabilities [Abstract]	'	'
Accrued expenses	6,013	9,533
Other	7,679	10,731
Total accrued expenses and other liabilities	$13,692	$20,264

NOTES_PAYABLE_AND_CREDIT_FACIL2

NOTES PAYABLE AND CREDIT FACILITY (Details) (USD $)	6 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012	Mar. 31, 2013
Recourse and Non Recourse Notes Payable [Line Items]	'	'	'
Recourse notes payable	1,520,000	'	1,484,000
Non-recourse notes payable	42,148,000	'	40,255,000
Interest rate of recourse note , stated (in hundredths)	4.84%	'	'
Period of notice required to terminate credit facility at quarter end	'45 days	'	'
Period of notice required to terminate credit facility at year end	'90 days	'	'
GECDF [Member]	'	'	'
Recourse and Non Recourse Notes Payable [Line Items]	'	'	'
Number of components under GECDF credit facility	2	'	'
Basis spread on reference rate (in hundredths)	2.50%	'	'
Guarantor obligations for credit facility, maximum	10,500,000	'	'
First Commonwealth Bank of Virginia [Member]	'	'	'
Recourse and Non Recourse Notes Payable [Line Items]	'	'	'
Basis spread on reference rate (in hundredths)	1.00%	'	'
Amount outstanding under credit facility	500,000	'	'
Account receivable component [Member]	'	'	'
Recourse and Non Recourse Notes Payable [Line Items]	'	'	'
Maximum amount can be borrowed under credit facility	30,000,000	'	'
Amount outstanding under credit facility	0	'	0
Floor plan component [Member]	'	'	'
Recourse and Non Recourse Notes Payable [Line Items]	'	'	'
Maximum amount can be borrowed under credit facility	175,000,000	'	'
Amount outstanding under credit facility	80,300,000	'	66,300,000
Non-Recourse Note Payable [Member]	'	'	'
Recourse and Non Recourse Notes Payable [Line Items]	'	'	'
Interest rate of non recourse note , minimum (in hundredths)	2.00%	2.00%	'
Interest rate of non recourse note , maximum (in hundredths)	10.00%	10.00%	'
Weighted average interest rate of non recourse note (in hundredths)	3.82%	'	4.23%

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	6 Months Ended
	Sep. 30, 2013	19-May-09
	Defendant	Defendant
Legal Proceedings [Abstract]	'	'
Number of defendants infringing patents	'	4
Number of defendants entered into agreement	3	'
Judgment amount	$18,200,000	'
Daily coercive fine	$62,362	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Weighted average number diluted shares outstanding adjustment [Abstract]	'	'	'	'
Weighted average decrease in the effect of dilutive shares (in shares)	74,000	'	91,000	'
Decrease in basic earnings per share (in dollars per shares)	$0.03	'	$0.07	'
Decrease in diluted earnings per share (in dollars per shares)	$0.02	'	$0.04	'
Restricted stock awards that contain non-forfeitable rights to dividends (in shares)	'	'	45,000	'
Basic and Diluted Shares Outstanding [Abstract]	'	'	'	'
Weighted average shares outstanding-basic (in shares)	7,975,590	7,770,206	7,944,932	7,745,506
Effect of dilutive shares (in shares)	44,000	77,000	62,000	77,000
Weighted average shares outstanding-diluted (in shares)	8,019,557	7,847,227	8,006,572	7,822,079
Calculation of Earnings Per Share - Basic [Abstract]	'	'	'	'
Net earnings	$8,591	$10,033	$16,441	$18,095
Net earnings attributable to shareholders with participating rights	66	234	192	497
Net earnings attributable to common share holders	8,525	9,799	16,249	17,598
Earnings per share - basic (in dollars per share)	$1.07	$1.26	$2.05	$2.27
Calculation of Earnings Per Share - Diluted [Abstract]	'	'	'	'
Add: undistributed earnings attributable to participating securities	0	2	1	5
Net earnings attributable to common shareholders	$8,525	$9,801	$16,250	$17,603
Earnings per share - diluted (in dollars per share)	$1.06	$1.25	$2.03	$2.25

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	6 Months Ended	144 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
STOCKHOLDERS' EQUITY [Abstract]	'	'
Authorized number of shares under stock repurchase program (in shares)	500,000	500,000
Common stock repurchased during the period (in shares)	62,986	4,700,000
Average cost of share repurchased (in dollars per share)	$53.92	$14.47
Common stock repurchased during the period	$3.40	$68.70

SHAREBASED_COMPENSATION_Detail

SHARE-BASED COMPENSATION (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
Weighted Average Grant-date Fair Value [Rollforward]	'	'	'	'	'
Treasury stock (in shares)	4,854,739	'	4,854,739	'	4,749,680
Treasury stock	$73,207,000	'	$73,207,000	'	$67,306,000
Compensation Expense [Abstract]	'	'	'	'	'
Total share-based compensation expense	1,068,000	915,000	1,900,000	1,600,000	'
Unrecognized compensation expense	7,100,000	'	7,100,000	'	'
Unrecognized compensation expense, period for recognition (in months)	'	'	'33 months	'	'
Period over which employer contribution is vested	'4 years	'	'	'	'
Expenses for the plan	147,000	236,000	524,000	465,000	'
Restricted Stock [Member]	'	'	'	'	'
Number of Shares [Rollforward]	'	'	'	'	'
Nonvested (in shares)	'	'	246,048	'	'
Granted (in shares)	'	'	85,635	'	'
Vested (in shares)	'	'	-131,348	'	'
Nonvested (in shares)	200,335	'	200,335	'	'
Weighted Average Grant-date Fair Value [Rollforward]	'	'	'	'	'
Nonvested (in dollars per share)	'	'	$26.32	'	'
Granted (in dollars per share)	'	'	$57.39	'	'
Vested (in dollars per share)	'	'	$24.39	'	'
Nonvested (in dollars per share)	$41.03	'	$41.03	'	'
Treasury stock (in shares)	42,073	'	42,073	'	'
Treasury stock	$2,500,000	'	$2,500,000	'	'
Stock Options [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Stock options granted to employees (in shares)	0	0	0	0	'
Number of shares [Rollforward]	'	'	'	'	'
Outstanding, beginning of period (in shares)	'	0	40,000	'	'
Options exercised (in shares)	'	'	40,000	'	'
Stock Options [Member] | Minimum [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Exercise price of stock options (in dollars per share)	'	'	'	'	$12.73
Stock Options [Member] | Maximum [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Exercise price of stock options (in dollars per share)	'	'	'	'	$15.25
2008 Director LTIP [Member] | Restricted Stock [Member]	'	'	'	'	'
Number of Shares [Rollforward]	'	'	'	'	'
Granted (in shares)	'	'	8,520	7,831	'
2012 Employee LTIP [Member] | Restricted Stock [Member]	'	'	'	'	'
Number of Shares [Rollforward]	'	'	'	'	'
Granted (in shares)	'	'	77,115	96,590	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
INCOME TAXES [Abstract]	'	'	'	'
Gross liability related to uncertain tax positions	$316	'	$316	'
Impact of recognizing the unrecognized tax benefit	439	'	439	'
Interest on income taxes expense included in statement of operation	4	4	9	9
Accrued interest on income taxes	$206	$189	$206	$189

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013	Mar. 31, 2012
Liabilities :	'	'	'	'
Contingent consideration	'	'	'	$918
Total Gains (Losses)	'	'	0	'
Adjustment to fair value of contingent consideration	355	-170	'	'
Payments for contingent consideration	1,272	'	'	'
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'	'	'
Liabilities :	'	'	'	'
Contingent consideration	'	'	'	0
Significant Other Observable Inputs (Level 2) [Member]	'	'	'	'
Liabilities :	'	'	'	'
Contingent consideration	'	'	'	0
Significant Unobservable Inputs (Level 3) [Member]	'	'	'	'
Liabilities :	'	'	'	'
Contingent consideration	'	'	'	$918

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Sales of product and services	$261,283	$250,178	$508,320	$484,460	'
Financing revenues	8,001	7,413	18,761	15,313	'
Fee and other income	1,845	2,460	3,365	5,002	'
TOTAL REVENUES	271,129	260,051	530,446	504,775	'
Cost of sales, product & services	214,854	205,199	418,184	399,590	'
Direct lease costs	3,495	2,461	6,748	4,704	'
Professional and other fees	1,908	2,707	5,146	5,820	'
Salaries and benefits	29,685	26,919	60,367	53,273	'
General and administrative expenses	6,059	5,411	11,060	10,066	'
Interest and financing costs	433	446	893	851	'
Total costs and expenses	256,434	243,143	502,398	474,304	'
Earnings before provision for income taxes	14,695	16,908	28,048	30,471	'
Total assets	465,301	440,794	465,301	440,794	437,872
Technology Sales Business Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Sales of product and services	261,283	250,178	508,320	484,460	'
Financing revenues	0	0	0	0	'
Fee and other income	1,829	1,591	3,286	3,593	'
TOTAL REVENUES	263,112	251,769	511,606	488,053	'
Cost of sales, product & services	214,854	205,199	418,184	399,590	'
Direct lease costs	0	0	0	0	'
Professional and other fees	1,580	2,260	4,443	4,763	'
Salaries and benefits	27,244	24,414	55,142	48,496	'
General and administrative expenses	5,701	5,011	10,515	9,450	'
Interest and financing costs	26	21	46	52	'
Total costs and expenses	249,405	236,905	488,330	462,351	'
Earnings before provision for income taxes	13,707	14,864	23,276	25,702	'
Total assets	269,149	250,138	269,149	250,138	'
Financing Business Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Sales of product and services	0	0	0	0	'
Financing revenues	8,001	7,413	18,761	15,313	'
Fee and other income	16	869	79	1,409	'
TOTAL REVENUES	8,017	8,282	18,840	16,722	'
Cost of sales, product & services	0	0	0	0	'
Direct lease costs	3,495	2,461	6,748	4,704	'
Professional and other fees	328	447	703	1,057	'
Salaries and benefits	2,441	2,505	5,225	4,777	'
General and administrative expenses	358	400	545	616	'
Interest and financing costs	407	425	847	799	'
Total costs and expenses	7,029	6,238	14,068	11,953	'
Earnings before provision for income taxes	988	2,044	4,772	4,769	'
Total assets	$196,152	$190,656	$196,152	$190,656	'