ePlus (PLUS) 10-Q 9 Aug 18 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2018	Aug. 06, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	EPLUS INC
Entity Central Index Key	1,022,408
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		13,720,043
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 57,480	$ 118,198
Accounts receivable-trade, net	321,033	268,287
Accounts receivable-other, net	37,628	28,401
Inventories	52,127	39,855
Financing receivables-net, current	70,619	69,936
Deferred costs	14,389	16,589
Other current assets	18,319	23,625
Total current assets	571,595	564,891
Financing receivables and operating leases-net	70,054	68,511
Property, equipment and other assets	17,592	19,143
Goodwill	76,484	76,624
Other intangible assets-net	24,674	26,302
TOTAL ASSETS	760,399	755,471
Current liabilities:
Accounts payable	98,672	106,933
Accounts payable-floor plan	129,577	112,109
Salaries and commissions payable	17,528	19,801
Deferred revenue	36,012	35,648
Recourse notes payable-current	0	1,343
Non-recourse notes payable-current	42,121	40,863
Other current liabilities	22,480	33,370
Total current liabilities	346,390	350,067
Non-recourse notes payable-long term	12,477	10,072
Deferred tax liability-net	1,648	1,662
Other liabilities	20,030	21,067
TOTAL LIABILITIES	380,545	382,868
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS' EQUITY
Preferred stock, $.01 per share par value; 2,000 shares authorized; none outstanding	0	0
Common stock, $.01 per share par value; 25,000 shares authorized; 13,723 outstanding at June 30, 2018 and 13,761 outstanding at March 31, 2018	143	142
Additional paid-in capital	131,693	130,000
Treasury stock, at cost, 575 shares at June 30, 2018 and 467 shares at March 31, 2018	(45,075)	(36,016)
Retained earnings	293,218	277,945
Accumulated other comprehensive income-foreign currency translation adjustment	(125)	532
Total Stockholders' Equity	379,854	372,603
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 760,399	$ 755,471

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2018	Mar. 31, 2018
STOCKHOLDERS' EQUITY
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
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	25,000
Common stock, shares outstanding (in shares)	13,723	13,761
Treasury stock, shares (in shares)	575	467

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) [Abstract]
Net sales	$ 356,532	$ 373,356
Cost of sales	275,829	295,763
Gross profit	80,703	77,593
Selling, general, and administrative expenses	56,966	54,664
Depreciation and amortization	2,790	2,063
Interest and financing costs	476	359
Operating expenses	60,232	57,086
Operating income	20,471	20,507
Other income	97	271
Earnings before tax	20,568	20,778
Provision for income taxes	5,295	7,355
Net earnings	$ 15,273	$ 13,423
Net earnings per common share-basic (in dollars per share)	$ 1.14	$ 0.97
Net earnings per common share-diluted (in dollars per share)	$ 1.12	$ 0.96
Weighted average common shares outstanding-basic (in shares)	13,434	13,806
Weighted average common shares outstanding-diluted (in shares)	13,597	14,019

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET EARNINGS	$ 15,273	$ 13,423
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Foreign currency translation adjustments	(657)	312
Other comprehensive income (loss)	(657)	312
TOTAL COMPREHENSIVE INCOME	$ 14,616	$ 13,735

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows From Operating Activities:
Net earnings	$ 15,273	$ 13,423
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	4,500	3,225
Reserve for credit losses, inventory obsolescence and sales returns	192	283
Share-based compensation expense	1,693	1,507
Payments from lessees directly to lenders-operating leases	(32)	(1,014)
Gain on disposal of property, equipment and leased equipment	(294)	(1,112)
Gain on sale of financing receivables	(1,354)	(2,292)
Other	4	(2)
Changes in:
Accounts receivable	(60,140)	(13,764)
Inventories	(12,440)	3,181
Financing receivables-net	3,749	(3,871)
Deferred costs, other intangible assets and other assets	5,491	(5,994)
Accounts payable	10,102	7,630
Salaries and commissions payable, deferred revenue and other liabilities	(15,776)	(4,650)
Net cash used in operating activities	(49,032)	(3,450)
Cash Flows From Investing Activities:
Proceeds from sale of property, equipment and leased equipment	1,034	980
Purchases of property, equipment and operating lease equipment	(1,630)	(1,871)
Purchases of assets to be leased or financed	(7,195)	(3,017)
Issuance of financing receivables	(49,355)	(51,024)
Repayments of financing receivables	15,555	20,630
Proceeds from sale of financing receivables	9,776	28,379
Cash used in acquisitions, net of cash acquired	0	(7,913)
Net cash used in investing activities	(31,815)	(13,836)
Cash Flows From Financing Activities:
Borrowings of non-recourse and recourse notes payable	18,802	4,700
Repayments of non-recourse and recourse notes payable	(5,903)	(467)
Repurchase of common stock	(9,830)	(4,130)
Repayments of financing of acquisitions	(500)	(604)
Net borrowings (repayments) on floor plan facility	17,468	6,320
Net cash provided by financing activities	20,037	5,819
Effect of exchange rate changes on cash	92	(49)
Net Increase (Decrease) in Cash and Cash Equivalents	(60,718)	(11,516)
Cash and Cash Equivalents, Beginning of Period	118,198	109,760
Cash and Cash Equivalents, End of Period	57,480	98,244
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	473	27
Cash paid for income taxes	5,545	2,960
Schedule of Non-Cash Investing and Financing Activities:
Proceeds from sale of property, equipment, and leased equipment	164	1,673
Purchase of property, equipment, and operating lease equipment	(675)	26
Purchase of assets to be leased or financed	592	(3,909)
Issuance of financing receivables	(19,709)	(56,791)
Repayment of financing receivables	0	4,058
Proceeds from sale of financing receivables	23,823	52,023
Financing of acquisitions	0	2,072
Borrowing of non-recourse and recourse notes payable	9,606	7,605
Repayments of non-recourse and recourse notes payable	(32)	(5,958)
Vesting of share-based compensation	$ 11,345	$ 10,458

UNAUDITED CONDENSED CONSOLIDAT7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 3 months ended Jun. 30, 2018 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total
Balance at Mar. 31, 2018	$ 142	$ 130,000	$ (36,016)	$ 277,945	$ 532	$ 372,603
Balance (in shares) at Mar. 31, 2018	13,761					13,761
Issuance of restricted stock awards	$ 1	0	0	0	0	$ 1
Issuance of restricted stock awards (in shares)	70
Share-based compensation	$ 0	1,693	0	0	0	1,693
Repurchase of common stock	$ 0	0	(9,059)	0	0	(9,059)
Repurchase of common stock (in shares)	(108)
Net earnings	$ 0	0	0	15,273	0	15,273
Foreign currency translation adjustment	0	0	0	0	(657)	(657)
Balance at Jun. 30, 2018	$ 143	$ 131,693	$ (45,075)	$ 293,218	$ (125)	$ 379,854
Balance (in shares) at Jun. 30, 2018	13,723					13,723

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2018
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS — Our company was founded in 1990 and is a Delaware corporation. e e e BASIS OF PRESENTATION — The unaudited condensed consolidated financial statements include the accounts of e INTERIM FINANCIAL STATEMENTS — The unaudited condensed consolidated financial statements for the three months ended June 30, 2018 and 2017 were prepared by us, without audit, and 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 comprehensive income, and cash flows for such periods. Operating results for the three months ended June 30, 2018 and 2017 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2019 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 (“US 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, 2018 (“2018 Annual Report”), which should be read in conjunction with these interim condensed consolidated financial statements. USE OF ESTIMATES — CONCENTRATIONS OF RISK — A substantial portion of our sales are products from Cisco Systems, which were 40% and 49% of our technology segment’s net sales for the three months ended June 30, 2018 and 2017, respectively. SIGNIFICANT ACCOUNTING POLICIES — The significant accounting policies used in preparing these Consolidated Financial Statements were applied on a basis consistent with those reflected in our Consolidated Financial Statements for the year ended March 31, 2018, except for changes from the adoption of Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) , as amended (“ASU 2014-09”). This Update adds Topic 606, Revenue from Contracts with Customers (“Topic 606”) to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“Codification”). The updates to our accounting policies from adopting ASU 2014-09 are provided below. REVENUE RECOGNITION — We recognize the majority of our revenues from the sales of third party products, third party software, third party services, such as maintenance and software support, and from sales of e e The core principle of Codification Topic 606 is that an entity should recognize revenue for the transfer of goods and services equal to an amount it expects to be entitled to receive for those goods and services. We account for a contract under Codification Topic 606 when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are established, the contract has commercial substance, and collectability of consideration is probable. Revenues are reported net of sales refunds, including an estimate of future returns based on an evaluation of historical sales returns, current economic conditions, volume, and other relevant factors. Our contracts with customers may include multiple promises that are distinct performance obligations. For such arrangements, we allocate the transaction price to each performance obligation based on its relative standalone selling price. We determine standalone selling prices using expected cost plus margin. We recognize revenue when (or as) we satisfy a performance obligation by transferring a promised good or service to a customer. A good or service is transferred when (or as) the customer obtains control of that good or service. Depending on the nature of each performance obligation, this may be at a point in time or over time, as further described below. We typically invoice our customers for third party products upon shipment, unless our customers lease the equipment through our financing segment in which case the arrangement is accounted for as a lease in accordance with Cofidication Topic 840, Leases Sales of third party products We are the principal in sales of third party products. As such, we recognize sales on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recognized as cost of sales. We recognize revenue from these sales at the point in time that control passes to the customer, which is typically upon delivery of the product to the customer. In some instances, our customers may request that we bill them for a product but retain physical possession of the product until later delivery, commonly known as bill-and-hold arrangements. In these transactions, we recognize revenue when the customer has signed a bill and hold agreement with us, the product is identified separately as belonging to the customer and, when orders include configuration, such configuration is complete and the product is ready for delivery to the customer. We recognize sales of leased equipment within our financing segment when control passes to the customer, which is typically the date of sale. Sales of third party software We are typically the principal in sales of third party software. We often sell third party support accompanying third party software. When the third party software benefits the customer only in conjunction with the accompanying support, such as in sales of anti-virus software and support, we consider the third party software and support as inputs to a single performance obligation. The third party controls the service as it is transferred to the customer and therefore we are acting as an agent in these transactions. We recognize revenue from these sales on a net basis when our customer and vendor accept the terms and conditions of the arrangement. Sales of third party maintenance, software support, and services We are the agent in sales of third party maintenance, software support, and services as the third party controls the service until it is transferred to the customer. We recognize sales on a net basis equal to the selling price to the customer less the acquisition cost. We recognize revenue from these sales when our customer and vendor accept the terms and conditions of the arrangement. Sales of ePlus professional and managed services Our e e We provide e In arrangements for e We host e Freight and sales tax We present freight billed to our customers within sales and the related freight charged to us within cost of sales. We present sales tax collected from customers and remittances to governmental authorities on a net basis. Financing revenue and other We account for leases to customers in accordance with Codification Topic 840, Leases We consider whether a lease meets any of the following four criteria as part of classifying the lease at its inception: · the lease transfers ownership of the property to the lessee by the end of the lease term; · the lease contains a bargain purchase option; · the lease term is equal to 75 percent or more of the estimated economic life of the leased property; or · the present value at the beginning of the lease term of the minimum lease payments equals or exceeds 90 percent of the fair value of the leased property at the inception of the lease. If a lease meets any of the four lease classification criteria and gives rise to dealer’s profit, we classify the lease as a sales-type lease. For sales-type lease, we recognize sales equal to the present value of the minimum lease payments discounted using the implicit interest rate in the lease and cost of sales equal to carrying amount of the asset being leased and any initial direct costs incurred, less the present value of the unguaranteed residual. Interest income from the lease is recognized in sales over the lease term in our financing segment. If a lease meets any of the four lease classification criteria, and does not give rise to dealer’s profit, we classify the lease as a direct financing lease. For direct financing leases, the difference between our gross investment in the lease and the cost of the leased property is deferred as unearned income and recognized as sales over the lease term. If a lease meets none of the four lease classification criteria, we classify the lease as an operating lease. For operating leases, we recognize the rent charged on the lease as sales on a straight-line basis ratably over the term of the lease agreement. We may also finance third-party software and third party services for our customers, which are classified as notes receivable. We recognize interest on notes receivable in net sales. Codification Topic 860 Transfers and Servicing CONTRACT BALANCES — We recognize contract liabilities when cash payments are received or due in advance of our performance. COSTS OF OBTAINING A CONTRACT — We capitalize costs that are incremental to obtaining customer contracts, predominately sales commissions, and expense them in proportion to each completed contract performance obligation.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Jun. 30, 2018
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS —We adopted ASU 2014-09 on April 1, 2018 using the full retrospective method. Under the full retrospective method, we apply the guidance retrospectively to each prior reporting period presented. The impact from the adopting ASU 2014-09 on our consolidated balance sheet as of March 31, 2018, was a decrease in accounts receivable – trade of $1.9 million, an increase in accounts receivable – other of $1.9 million, a decrease in deferred costs of $3.2 million, and a decrease in deferred revenues of $3.2 million. There is no impact to our retained earnings as of March 31, 2018. The impact on our consolidated statement of operations for the three months ended June 30, 2017 was an increase in net sales and cost of sales by $6.2 million. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED —In June 2016, the FASB issued ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In November 2016, the FASB issued ASU 2016-02, Leases

REVENUES

REVENUES	3 Months Ended
	Jun. 30, 2018
REVENUES [Abstract]
REVENUES	3. REVENUES Contract balances Accounts receivable – trade represents amounts due from contracts with customers. In addition, we had $21.0 million and $28.1 million of receivables from contracts with customers included within financing receivables as of June 30, 2018 and March 31, 2018, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands): Contract liabilities June 30, 2018 March 31, 2018 Current (included deferred revenue) $ 34,448 $ 34,643 Non-current (included in other liabilities) $ 11,739 $ 12,699 Revenue recognized from the beginning contract liability balance was $12.8 million and $19.5 million for the three months ended June 30, 2018 and 2017, respectively. Performance obligations The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for ePlus Managed Services, that are unsatisfied or partially unsatisfied at the end of the reporting period, in thousands. The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed. Remaining nine months of fiscal 2019 $ 14,868 Fiscal 2020 9,105 Fiscal 2021 4,811 Fiscal 2022 421 Fiscal 2023 153 Fiscal 2024 1 Total remaining performance obligations $ 29,359

FINANCING RECEIVABLES AND OPERA

FINANCING RECEIVABLES AND OPERATING LEASES	3 Months Ended
	Jun. 30, 2018
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
FINANCING RECEIVABLES AND OPERATING LEASES	4. FINANCING RECEIVABLES AND OPERATING LEASES Our financing receivables and operating leases consist of assets that we finance for our customers, which we manage as a portfolio of investments. Equipment financed for our customers is accounted for as investments in direct financing, sales-type or operating leases in accordance with Codification Topic 840, Leases FINANCING RECEIVABLES—NET Our financing receivables, net consist of the following (in thousands): June 30, 2018 Notes Receivables Lease-Related Receivables Total Financing Receivables Minimum payments $ 53,777 $ 74,522 $ 128,299 Estimated unguaranteed residual value (1) - 12,031 12,031 Initial direct costs, net of amortization (2) 499 439 938 Unearned income - (8,889 ) (8,889 ) Reserve for credit losses (3) (486 ) (696 ) (1,182 ) Total, net $ 53,790 $ 77,407 $ 131,197 Reported as: Current $ 34,408 $ 36,211 $ 70,619 Long-term 19,382 41,196 60,578 Total, net $ 53,790 $ 77,407 $ 131,197 (1) Includes estimated unguaranteed residual values of $6,271 thousand for direct financing leases, which have been sold and accounted for as sales. (2) Initial direct costs are shown net of amortization of $381 thousand. (3) For details on reserve for credit losses, refer to Note 6, “Reserves for Credit Losses.” March 31, 2018 Notes Receivables Lease-Related Receivables Total Financing Receivables Minimum payments $ 62,992 $ 65,943 $ 128,935 Estimated unguaranteed residual value (1) - 11,226 11,226 Initial direct costs, net of amortization (2) 375 334 709 Unearned income - (8,251 ) (8,251 ) Reserve for credit losses (3) (486 ) (640 ) (1,126 ) Total, net $ 62,881 $ 68,612 $ 131,493 Reported as: Current $ 39,993 $ 29,943 $ 69,936 Long-term 22,888 38,669 61,557 Total, net $ 62,881 $ 68,612 $ 131,493 (1) Includes estimated unguaranteed residual values of $6,004 thousand for direct financing leases which have been sold and accounted for as sales. (2) Initial direct costs are shown net of amortization of $341 thousand. (3) For details on reserve for credit losses, refer to Note 5, “Reserves for Credit Losses.” OPERATING LEASES—NET Operating leases—net represents leases that do not qualify as direct financing leases. The components of the operating leases—net are as follows (in thousands): June 30, March 31, 2018 2018 Cost of equipment under operating leases $ 16,265 $ 15,683 Accumulated depreciation (6,789 ) (8,729 ) Investment in operating lease equipment—net (1) $ 9,476 $ 6,954 (1) Includes estimated unguaranteed residual values of $2,467 thousand and $1,921 thousand as of June 30, 2018 and March 31, 2018, respectively. TRANSFERS OF FINANCIAL ASSETS We enter into arrangements to transfer the contractual payments due under financing receivables and operating lease agreements, which are accounted for as sales or secured borrowings in accordance with Codification Topic 860, Transfers and Servicing 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 are presented within net sales in the consolidated statement of operations. During the three months ended June 30, 2018 and 2017, we recognized net gains of $1.3 million and $2.3 million, respectively, and total proceeds from these sales were $46.9 million and $85.8 million, respectively. For certain assignments of financial assets, we retain a servicing obligation. For assignments accounted for as sales, we allocate a portion of the proceeds to deferred revenues, which is recognized as we perform the services. As of both June 30, 2018 and March 31, 2018, we had deferred revenue of $0.5 million for servicing. In a limited number of such sales, we indemnified the assignee in the event that the lessee elected to terminate the lease early. As of June 30, 2018, our maximum potential future payments related to such guarantees is $0.4 million. We believe the likelihood of making any such payments to be remote.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Jun. 30, 2018
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL The following table summarizes the changes in the carrying amount of goodwill for the three months ended June 30, 2018, (in thousands): Goodwill Accumulated Amortization / Impairment Loss Net Carrying Amount Balance as of March 31, 2018 $ 85,297 $ (8,673 ) $ 76,624 Foreign currency translations (140 ) - (140 ) Balance as of June 30, 2018 $ 85,157 $ (8,673 ) $ 76,484 Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. All of our goodwill as of June 30, 2018 and March 31, 2018 is related to our technology reportable segment, which we also determined to be one reporting unit. We test goodwill for impairment on an annual basis, as of the first day of our third fiscal quarter, and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying value. OTHER INTANGIBLE ASSETS Our other intangible assets consist of the following at June 30, 2018 and March 31, 2018 (in thousands): June 30, 2018 March 31, 2018 Gross Carrying Amount Accumulated Amortization / Impairment Loss Net Carrying Amount Gross Carrying Amount Accumulated Amortization / Impairment Loss Net Carrying Amount Customer relationships & other intangibles $ 41,839 $ (20,324 ) $ 21,515 $ 41,895 $ (18,634 ) $ 23,261 Capitalized software development 5,356 (2,197 ) 3,159 5,608 (2,567 ) 3,041 Total $ 47,195 $ (22,521 ) $ 24,674 $ 47,503 $ (21,201 ) $ 26,302 Customer relationships and capitalized software development costs are amortized over an estimated useful life, which is generally between 3 to 8 years. Total amortization expense for other intangible assets was $1.8 million and $1.1 million for the three months ended June 30, 2018 and 2017, respectively.

RESERVES FOR CREDIT LOSSES

RESERVES FOR CREDIT LOSSES	3 Months Ended
	Jun. 30, 2018
RESERVES FOR CREDIT LOSSES [Abstract]
RESERVES FOR CREDIT LOSSES	RESERVES FOR CREDIT LOSSES Activity in our reserves for credit losses for the three months ended June 30, 2018 and 2017 were as follows (in thousands): Accounts Receivable Notes Receivable Lease- Related Receivables Total Balance April 1, 2018 $ 1,538 $ 486 $ 640 $ 2,664 Provision for credit losses 123 - 56 179 Write-offs and other (1 ) - - (1 ) Balance June 30, 2018 $ 1,660 $ 486 $ 696 $ 2,842 Accounts Receivable Notes Receivable Lease- Related Receivables Total Balance April 1, 2017 $ 1,279 $ 3,434 $ 679 $ 5,392 Provision for credit losses (1 ) 67 202 268 Write-offs and other - (3,021 ) (165 ) (3,186 ) Balance June 30, 2017 $ 1,278 $ 480 $ 716 $ 2,474 Our reserves for credit losses and minimum payments associated with our notes receivables and lease-related receivables disaggregated based on of our impairment method were as follows (in thousands): June 30, 2018 March 31, 2018 Notes Receivable Lease- Related Receivables Notes Receivable Lease- Related Receivables Reserves for credit losses: Ending balance: collectively evaluated for impairment $ 424 $ 696 $ 424 $ 640 Ending balance: individually evaluated for impairment 62 - 62 - Ending balance $ 486 $ 696 $ 486 $ 640 Minimum payments: Ending balance: collectively evaluated for impairment $ 53,715 $ 74,522 $ 62,930 $ 65,943 Ending balance: individually evaluated for impairment 62 - 62 - Ending balance $ 53,777 $ 74,522 $ 62,992 $ 65,943 We place receivables on non-accrual status when events, such as a customer’s declaring bankruptcy, occur that indicate a receivable will not be collectable. We charge off uncollectable financing receivables when we stop pursuing collection. 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 rating (“CQR”) were as follows as of June 30, 2018 and March 31, 2018 (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 June 30, 2018 High CQR $ 421 $ 316 $ 2,354 $ 3,091 $ 489 $ 34,158 $ 37,738 $ (3,965 ) $ (19,831 ) $ 13,942 Average CQR 194 106 181 481 - 36,303 36,784 (3,136 ) (19,836 ) 13,812 Low CQR - - - - - - - - - - Total $ 615 $ 422 $ 2,535 $ 3,572 $ 489 $ 70,461 $ 74,522 $ (7,101 ) $ (39,667 ) $ 27,754 March 31, 2018 High CQR $ 143 $ 40 $ 43 $ 226 $ 224 $ 33,779 $ 34,229 $ (3,743 ) $ (17,207 ) $ 13,279 Average CQR 109 31 117 257 171 31,286 31,714 (2,749 ) (16,012 ) 12,953 Low CQR - - - - - - - - - - Total $ 252 $ 71 $ 160 $ 483 $ 395 $ 65,065 $ 65,943 $ (6,492 ) $ (33,219 ) $ 26,232 The age of the recorded notes receivable balance disaggregated based on our internally assigned CQR were as follows as June 30, 2018 and March 31, 2018 (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 2017 June 30, 2018 High CQR $ 3,052 $ 9 $ 13 $ 3,074 $ 1,994 $ 37,737 $ 42,805 $ (30,378 ) $ 12,427 Average CQR 223 4 18 245 292 10,373 10,910 (4,978 ) 5,932 Low CQR - - 62 62 - - 62 - 62 Total $ 3,275 $ 13 $ 93 $ 3,381 $ 2,286 $ 48,110 $ 53,777 $ (35,356 ) $ 18,421 March 31, 2018 High CQR $ 175 $ 527 $ 423 $ 1,125 $ 3,262 $ 40,896 $ 45,283 $ (30,345 ) $ 14,938 Average CQR 42 409 22 473 394 16,780 17,647 (10,424 ) 7,223 Low CQR - - 62 62 - - 62 - 62 Total $ 217 $ 936 $ 507 $ 1,660 $ 3,656 $ 57,676 $ 62,992 $ (40,769 ) $ 22,223 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% - 15% for customers with average CQR, and between 15% - 100% for customers with low CQR, which includes customers in bankruptcy.

PROPERTY, EQUIPMENT, OTHER ASSE

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES	3 Months Ended
	Jun. 30, 2018
PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES [Abstract]
PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES	7. PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES Our property, equipment, other assets and liabilities consist of the following (in thousands): June 30, 2018 March 31, 2018 Other current assets: Deposits & funds held in escrow $ 9,675 $ 16,202 Prepaid assets 8,236 7,031 Other 408 392 Total other current assets $ 18,319 $ 23,625 Property, equipment and other assets Property and equipment, net $ 7,219 $ 7,510 Deferred costs 8,506 9,302 Other 1,867 2,331 Total other assets - long term $ 17,592 $ 19,143 Other current liabilities: Accrued expenses $ 6,616 $ 8,339 Accrued income taxes payable 283 175 Contingent consideration - current 5,835 5,806 Other 9,746 19,050 Total other current liabilities $ 22,480 $ 33,370 Other liabilities: Deferred revenue $ 11,936 $ 12,910 Contingent consideration - long-term 8,094 7,707 Other - 450 Total other liabilities - long term $ 20,030 $ 21,067 In the above table, deposits and funds held in escrow related to financial assets that were sold to third-party banks. In conjunction with those sales, a portion of the proceeds was placed in escrow and will be released to us upon payment of outstanding invoices related to the underlying financing arrangements that were sold.

NOTES PAYABLE AND CREDIT FACILI

NOTES PAYABLE AND CREDIT FACILITY	3 Months Ended
	Jun. 30, 2018
NOTES PAYABLE AND CREDIT FACILITY [Abstract]
NOTES PAYABLE AND CREDIT FACILITY	NOTES PAYABLE AND CREDIT FACILITY Non-recourse and recourse obligations consist of the following (in thousands): June 30, 2018 March 31, 2018 Recourse notes payable with interest rate of 4.11% at March 31, 2018. Current $ - $ 1,343 Non-recourse notes payable secured by financing receivables and investments in operating leases with interest rates ranging from 2.04% to 8.45% as of June 30, 2018 and March 31, 2018. Current $ 42,121 $ 40,863 Long-term 12,477 10,072 Total non-recourse notes payable $ 54,598 $ 50,935 Principal and interest payments on 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 and 4.04%, as of June 30, 2018 and March 31, 2018, respectively. The weighted average interest rate for our recourse notes payable was 4.11% as of March 31, 2018. Under recourse financing, if a customer defaults, the lender has recourse to the customer, the assets serving as collateral, and us. Under non-recourse financing, if a customer defaults, the lender generally only has recourse against the customer and the assets serving as collateral, but not us. Our technology segment, through our subsidiary e As of June 30, 2018, the facility had an aggregate limit of $250 million for the two components, and the accounts receivable component had a sub-limit of $30 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 e e e e e e e The WFCF facility requires a guaranty of $10.5 million by e e On July 27, 2017, we executed an amendment to the WFCDF credit facility that temporarily increases the aggregate limit of the two components from $250.0 million to $325.0 million from the date of the agreement through October 31, 2018. The amendment also provides us an election beginning July 1 in each subsequent year to similarly temporarily increase the aggregate limit of the two components to $325.0 million ending the earlier of 90 days following the date of election and October 31 of that same year. On July 17, 2018, we elected to temporarily increase the aggregate limit to $325.0 million. Fair Value As of June 30, 2018 and March 31, 2018, the fair value of our long-term recourse and non-recourse notes payable approximated their carrying value.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2018
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES Legal Proceedings

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Jun. 30, 2018
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	10. EARNINGS PER SHARE Basic earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding plus common stock equivalents during each period. The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our unaudited consolidated statements of operations for the three months ended June 30, 2018 and 2017, respectively (in thousands, except per share data). Three Months Ended 2018 2017 Net earnings attributable to common shareholders - basic and diluted $ 15,273 $ 13,423 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 13,434 13,806 Effect of dilutive shares 163 213 Weighted average shares common outstanding — diluted 13,597 14,019 Earnings per common share - basic $ 1.14 $ 0.97 Earnings per common share - diluted $ 1.12 $ 0.96

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Jun. 30, 2018
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Share Repurchase Plan On August 15, 2017, The plan authorized purchases to 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. On April 26, 2018, The plan authorized purchases to 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 three months ended June 30, 2018, we purchased 70,445 shares of our outstanding common stock at a value of $5.5 million under the share repurchase plan; we also purchased 37,086 shares of common stock at a value of $3.6 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock. During the three months ended June 30, 2017, we did not purchase any shares of our outstanding common stock under the share repurchase plan; however, we purchased 54,546 shares of common stock at a value of $4.1 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Jun. 30, 2018
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION Share-Based Plans As of June 30, 2018, we had share-based awards outstanding under the following Restricted Stock Activity For the three months ended June 30, 2018, we granted 841 restricted shares under the 2017 Director LTIP, and 69,847 restricted shares under the 2012 Employee LTIP. For the three months ended June 30, 2017, we granted 282 restricted shares under the 2008 Director LTIP, and 66,530 restricted shares under the 2012 Employee LTIP. A summary of the restricted shares is as follows: Number of Shares Weighted Average Grant- date Fair Value Nonvested April 1, 2018 282,235 $ 51.69 Granted 70,688 $ 94.33 Vested (118,492 ) $ 48.91 Forfeited (814 ) $ 53.87 Nonvested June 30, 2018 233,617 $ 66.00 Upon each vesting period of the restricted stock awards, employees are subject to minimum tax withholding obligations. Under the 2012 Employee LTIP, we may purchase a sufficient number of shares due to the participant to satisfy their minimum tax withholding on employee stock awards. For the three months ended June 30, 2018, the Company had withheld 37,086 shares of common stock at a value of $3.6 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. There are no additional conditions for vesting other than service conditions. During the three months ended June 30, 2018 and 2017, we recognized $1.7 million and $1.5 million of total share-based compensation expense, respectively. Unrecognized compensation expense related to non-vested restricted stock was $14.3 million as of June 30, 2018, which will be fully recognized over the next thirty six (36) months. We also provide our employees with a contributory 401(k) profit sharing plan, to which we may contribute from time to time at our sole discretion. Employer contributions to the plan are fully vested at all times. For the three months ended June 30, 2018 and 2017, our estimated contribution expense for the plan was $0.5 million and $0.6 million, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2018
INCOME TAXES [Abstract]
INCOME TAXES	13. INCOME TAXES We account for our tax positions in accordance with Codification Topic 740, Income Taxes Our total gross unrecognized tax benefits recorded for uncertain income tax, and interest and penalties thereon, were negligible as of June 30, 2018 and June 30, 2017. We had no additions or reductions to our gross unrecognized tax benefits during the three months ended June 30, 2018. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Jun. 30, 2018
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	14. FAIR VALUE OF FINANCIAL INSTRUMENTS We account for the fair values of our assets and liabilities in accordance with Codification Topic 820, Fair Value Measurement and Disclosure. Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs June 30, 2018 Assets: Money market funds $ 18,041 $ 18,041 $ - $ - Liabilities: Contingent consideration $ 13,929 $ - $ - $ 13,929 March 31, 2018 Assets: Money market funds $ 60,385 $ 60,385 $ - $ - Liabilities: Contingent consideration $ 13,513 $ - $ - $ 13,513 For the three months ended June 30, 2018, we recorded adjustments that increased the fair value of our liability for contingent consideration by $0.4 million. There were no payments made to satisfy the current obligations of the contingent consideration arrangements for the three months ended June 30, 2018. For the three months ended June 30, 2017, we recorded adjustments that increased the fair value of our liability for contingent consideration by $2.1 million due to a business acquisition, and $0.3 million in payments that were made to satisfy the current obligations of the contingent consideration arrangement from our earlier acquisition of Consolidated IT Services.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Jun. 30, 2018
SEGMENT REPORTING [Abstract]
SEGMENT REPORTING	15. SEGMENT REPORTING Our operations are conducted through two operating segments that are also both reportable segments. Our technology segment includes sales of IT products, third-party software, third-party maintenance, advanced professional and managed services and our proprietary software to commercial enterprises, state and local governments, and government contractors. Our financing segment consists of the financing of IT equipment, software, and related services to commercial enterprises, state and local governments, and government contractors. We measure the performance of the segments based on operating income. Our reportable segment information was as follows (in thousands): Three Months Ended June 30, 2018 June 30, 2017 Technology Financing Total Technology Financing Total Contracts with customers $ 341,459 $ 596 $ 342,055 $ 359,361 $ 2,815 $ 362,176 Financing and other 5,405 9,072 14,477 3,538 7,642 11,180 Net sales 346,864 9,668 356,532 362,899 10,457 373,356 Cost of sales 274,081 1,748 275,829 293,266 2,497 295,763 Gross profit 72,783 7,920 80,703 69,633 7,960 77,593 Selling, general, and administrative 54,454 2,512 56,966 51,501 3,163 54,664 Depreciation and amortization 2,789 1 2,790 2,062 1 2,063 Interest and financing costs - 476 476 - 359 359 Operating expenses 57,243 2,989 60,232 53,563 3,523 57,086 Operating income 15,540 4,931 20,471 16,070 4,437 20,507 Other income 97 271 Earnings before tax $ 20,568 $ 20,778 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 3,015 $ 1,485 $ 4,500 $ 2,095 $ 1,130 $ 3,225 Purchases of property, equipment and operating lease equipment $ 1,180 $ 450 $ 1,630 $ 1,091 $ 780 $ 1,871 Selected Financial Data - Balance Sheet Total assets $ 557,864 $ 202,535 $ 760,399 $ 577,398 $ 177,786 $ 755,184 Technology Segment Disaggregation of Revenue We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized below (in thousands): Three Months Ended June 30, 2018 2017 Customer end market: Technology $ 82,817 $ 89,355 Telecom, Media & Entertainment 46,868 57,405 Financial Services 45,225 38,291 SLED 68,205 77,163 Healthcare 46,450 46,486 All others 57,299 54,199 Net sales 346,864 362,899 Financing and other (5,405 ) (3,538 ) Revenue from contracts with customers $ 341,459 $ 359,361 Three Months Ended June 30, 2018 2017 Vendor: Cisco Systems $ 139,577 $ 174,256 NetApp 15,020 15,540 HP Inc. & HPE 20,355 28,360 Arista Networks 19,844 17,451 Juniper 10,431 9,381 All others 141,637 117,911 Net sales 346,864 362,899 Financing and other (5,405 ) (3,538 ) Revenue from contracts with customers $ 341,459 $ 359,361 Financing Segment Disaggregation of Revenue We analyze our revenues within our financing segment based on the nature of the arrangement and our revenues from contracts with customers consist of proceeds from the sale of off-lease equipment.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	3 Months Ended
	Jun. 30, 2018
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	16. BUSINESS COMBINATIONS Integrated Data Storage, LLC acquisition On September 15, 2017, our subsidiary e Plus Technology, inc. acquired of Integrated Data Storage, LLC (“IDS”) though an asset purchase agreement. Headquartered in Oak Brook, Illinois and with offices in downtown Chicago, Illinois and Indianapolis, Indiana, IDS is an advanced data center solutions provider focused on cloud enablement and managed services, including its proprietary IDS Cloud, which features enterprise-class technology infrastructure coupled with consulting services to support private, hybrid, and public cloud deployments. The acquisition expands e Plus’ footprint in the Midwest and enhances its sales and engineering capabilities in cloud services, disaster recovery and backup as a service, storage, data center, and professional services. Our sum of total consideration transferred was $38.4 million, consisting of $29.8 million paid in cash at closing, less $1.4 million paid back as a working capital adjustment , plus an additional $10.0 million equal to the acquisition date fair value of consideration that is contingent on the acquired business’ future gross profit. The contingent consideration was calculated using the Monte Carlo simulation model based on our projections of future gross profits. The maximum payout of the contingent consideration is $15.0 million paid over 3 years. Acquisition Date Amount Accounts receivable and other assets $ 14,353 Property and equipment 1,620 Identified intangible assets 13,650 Accounts payable and other current liabilities (12,313 ) Total identifiable net assets 17,310 Goodwill 21,088 Total purchase consideration $ 38,398 The identified intangible assets of $13.7 million consist of customer relationships with an estimated useful life of 8 years. The fair value of acquired receivables equals the gross contractual amounts receivable. We expect to collect all acquired receivables. We recognized goodwill related to this transaction of $21.1 million, which was assigned to our technology reporting unit. The goodwill recognized in the acquisition is attributable to the acquired assembled workforce and expected synergies, none of which qualify for recognition as a separate intangible asset. The total amount of goodwill is expected to be deductible for tax purposes. The amount of revenues and earnings of the acquiree since the acquisition date are not material. Likewise, the impact to the revenue and earnings of the combined entity for the current reporting period through the acquisition date had the acquisition date been April 1, 2017, is not material. OneCloud Consulting Inc. On May 17, 2017, our subsidiary e Plus Technology, inc., acquired 100% of the stock of OneCloud Consulting, Inc. (“OneCloud”). Based in Milpitas, California, and with locations in India, OneCloud is a versatile team of highly trained technology consultants, architects, developers and instructors. OneCloud enables its customers’ cloud and application strategy via professional services, technical education and software development. The acquisition provides us with additional ability to address customers’ need for cloud-based solutions and infrastructure, including DevOps, OpenStack, and other emerging technologies. Our sum of total consideration transferred was $10.0 million consisting of $7.9 million paid in cash at closing, net of cash acquired, and $2.1 million equal to the fair value of contingent consideration, calculated using the Monte Carlo simulation model. The maximum payout of the contingent consideration is $4.5 million paid over 3 years. Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable and other assets $ 488 Identified intangible assets 4,130 Accounts payable and other current liabilities (1,822 ) Total identifiable net assets 2,796 Goodwill 7,189 Total purchase consideration $ 9,985 The identified intangible assets of $4.1 million consist of customer relationships of $1.7 million with an estimated useful life of 8 years, and internally developed processes of $2.4 million with an estimated useful life of 5 years. We recognized goodwill related to this transaction of $7.2 million, which was assigned to our technology reporting unit. The goodwill recognized in the acquisition is attributable to the acquired assembled workforce and expected synergies, none of which qualify for recognition as a separate intangible asset. The total amount of goodwill is expected to be deductible for tax purposes. The amount of revenues and earnings of the acquiree since the acquisition date are not material. Likewise, the impact to the revenue and earnings of the combined entity for the current reporting period through the acquisition date had the acquisition date been April 1, 2017, is not material.

ORGANIZATION AND SUMMARY OF S24

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2018
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION — The unaudited condensed consolidated financial statements include the accounts of e
INTERIM FINANCIAL STATEMENTS	INTERIM FINANCIAL STATEMENTS — The unaudited condensed consolidated financial statements for the three months ended June 30, 2018 and 2017 were prepared by us, without audit, and 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 comprehensive income, and cash flows for such periods. Operating results for the three months ended June 30, 2018 and 2017 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2019 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 (“US 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, 2018 (“2018 Annual Report”), which should be read in conjunction with these interim condensed consolidated financial statements.
USE OF ESTIMATES	USE OF ESTIMATES —
CONCENTRATIONS OF RISK	CONCENTRATIONS OF RISK — A substantial portion of our sales are products from Cisco Systems, which were 40% and 49% of our technology segment’s net sales for the three months ended June 30, 2018 and 2017, respectively.
REVENUE RECOGNITION	REVENUE RECOGNITION — We recognize the majority of our revenues from the sales of third party products, third party software, third party services, such as maintenance and software support, and from sales of e e The core principle of Codification Topic 606 is that an entity should recognize revenue for the transfer of goods and services equal to an amount it expects to be entitled to receive for those goods and services. We account for a contract under Codification Topic 606 when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are established, the contract has commercial substance, and collectability of consideration is probable. Revenues are reported net of sales refunds, including an estimate of future returns based on an evaluation of historical sales returns, current economic conditions, volume, and other relevant factors. Our contracts with customers may include multiple promises that are distinct performance obligations. For such arrangements, we allocate the transaction price to each performance obligation based on its relative standalone selling price. We determine standalone selling prices using expected cost plus margin. We recognize revenue when (or as) we satisfy a performance obligation by transferring a promised good or service to a customer. A good or service is transferred when (or as) the customer obtains control of that good or service. Depending on the nature of each performance obligation, this may be at a point in time or over time, as further described below. We typically invoice our customers for third party products upon shipment, unless our customers lease the equipment through our financing segment in which case the arrangement is accounted for as a lease in accordance with Cofidication Topic 840, Leases Sales of third party products We are the principal in sales of third party products. As such, we recognize sales on a gross basis with the selling price to the customer recorded as sales and the acquisition cost of the product recognized as cost of sales. We recognize revenue from these sales at the point in time that control passes to the customer, which is typically upon delivery of the product to the customer. In some instances, our customers may request that we bill them for a product but retain physical possession of the product until later delivery, commonly known as bill-and-hold arrangements. In these transactions, we recognize revenue when the customer has signed a bill and hold agreement with us, the product is identified separately as belonging to the customer and, when orders include configuration, such configuration is complete and the product is ready for delivery to the customer. We recognize sales of leased equipment within our financing segment when control passes to the customer, which is typically the date of sale. Sales of third party software We are typically the principal in sales of third party software. We often sell third party support accompanying third party software. When the third party software benefits the customer only in conjunction with the accompanying support, such as in sales of anti-virus software and support, we consider the third party software and support as inputs to a single performance obligation. The third party controls the service as it is transferred to the customer and therefore we are acting as an agent in these transactions. We recognize revenue from these sales on a net basis when our customer and vendor accept the terms and conditions of the arrangement. Sales of third party maintenance, software support, and services We are the agent in sales of third party maintenance, software support, and services as the third party controls the service until it is transferred to the customer. We recognize sales on a net basis equal to the selling price to the customer less the acquisition cost. We recognize revenue from these sales when our customer and vendor accept the terms and conditions of the arrangement. Sales of ePlus professional and managed services Our e e We provide e In arrangements for e We host e Freight and sales tax We present freight billed to our customers within sales and the related freight charged to us within cost of sales. We present sales tax collected from customers and remittances to governmental authorities on a net basis. Financing revenue and other We account for leases to customers in accordance with Codification Topic 840, Leases We consider whether a lease meets any of the following four criteria as part of classifying the lease at its inception: · the lease transfers ownership of the property to the lessee by the end of the lease term; · the lease contains a bargain purchase option; · the lease term is equal to 75 percent or more of the estimated economic life of the leased property; or · the present value at the beginning of the lease term of the minimum lease payments equals or exceeds 90 percent of the fair value of the leased property at the inception of the lease. If a lease meets any of the four lease classification criteria and gives rise to dealer’s profit, we classify the lease as a sales-type lease. For sales-type lease, we recognize sales equal to the present value of the minimum lease payments discounted using the implicit interest rate in the lease and cost of sales equal to carrying amount of the asset being leased and any initial direct costs incurred, less the present value of the unguaranteed residual. Interest income from the lease is recognized in sales over the lease term in our financing segment. If a lease meets any of the four lease classification criteria, and does not give rise to dealer’s profit, we classify the lease as a direct financing lease. For direct financing leases, the difference between our gross investment in the lease and the cost of the leased property is deferred as unearned income and recognized as sales over the lease term. If a lease meets none of the four lease classification criteria, we classify the lease as an operating lease. For operating leases, we recognize the rent charged on the lease as sales on a straight-line basis ratably over the term of the lease agreement. We may also finance third-party software and third party services for our customers, which are classified as notes receivable. We recognize interest on notes receivable in net sales. Codification Topic 860 Transfers and Servicing
CONTRACT BALANCES	CONTRACT BALANCES — We recognize contract liabilities when cash payments are received or due in advance of our performance.
COSTS OF OBTAINING A CONTRACT	COSTS OF OBTAINING A CONTRACT — We capitalize costs that are incremental to obtaining customer contracts, predominately sales commissions, and expense them in proportion to each completed contract performance obligation.

RECENT ACCOUNTING PRONOUNCEME25

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
	Jun. 30, 2018
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS —We adopted ASU 2014-09 on April 1, 2018 using the full retrospective method. Under the full retrospective method, we apply the guidance retrospectively to each prior reporting period presented. The impact from the adopting ASU 2014-09 on our consolidated balance sheet as of March 31, 2018, was a decrease in accounts receivable – trade of $1.9 million, an increase in accounts receivable – other of $1.9 million, a decrease in deferred costs of $3.2 million, and a decrease in deferred revenues of $3.2 million. There is no impact to our retained earnings as of March 31, 2018. The impact on our consolidated statement of operations for the three months ended June 30, 2017 was an increase in net sales and cost of sales by $6.2 million.
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED —In June 2016, the FASB issued ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In November 2016, the FASB issued ASU 2016-02, Leases

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Jun. 30, 2018
REVENUES [Abstract]
Balance of Receivables, Contract Assets, and Contract Liabilities	The following table provides the balance of contract liabilities from contracts with customers (in thousands): Contract liabilities June 30, 2018 March 31, 2018 Current (included deferred revenue) $ 34,448 $ 34,643 Non-current (included in other liabilities) $ 11,739 $ 12,699
Remaining Performance Obligations	The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for ePlus Managed Services, that are unsatisfied or partially unsatisfied at the end of the reporting period, in thousands. The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed. Remaining nine months of fiscal 2019 $ 14,868 Fiscal 2020 9,105 Fiscal 2021 4,811 Fiscal 2022 421 Fiscal 2023 153 Fiscal 2024 1 Total remaining performance obligations $ 29,359

FINANCING RECEIVABLES AND OPE27

FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	3 Months Ended
	Jun. 30, 2018
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
Notes Receivable Net and Investments in Leases	Our financing receivables, net consist of the following (in thousands): June 30, 2018 Notes Receivables Lease-Related Receivables Total Financing Receivables Minimum payments $ 53,777 $ 74,522 $ 128,299 Estimated unguaranteed residual value (1) - 12,031 12,031 Initial direct costs, net of amortization (2) 499 439 938 Unearned income - (8,889 ) (8,889 ) Reserve for credit losses (3) (486 ) (696 ) (1,182 ) Total, net $ 53,790 $ 77,407 $ 131,197 Reported as: Current $ 34,408 $ 36,211 $ 70,619 Long-term 19,382 41,196 60,578 Total, net $ 53,790 $ 77,407 $ 131,197 (1) Includes estimated unguaranteed residual values of $6,271 thousand for direct financing leases, which have been sold and accounted for as sales. (2) Initial direct costs are shown net of amortization of $381 thousand. (3) For details on reserve for credit losses, refer to Note 6, “Reserves for Credit Losses.” March 31, 2018 Notes Receivables Lease-Related Receivables Total Financing Receivables Minimum payments $ 62,992 $ 65,943 $ 128,935 Estimated unguaranteed residual value (1) - 11,226 11,226 Initial direct costs, net of amortization (2) 375 334 709 Unearned income - (8,251 ) (8,251 ) Reserve for credit losses (3) (486 ) (640 ) (1,126 ) Total, net $ 62,881 $ 68,612 $ 131,493 Reported as: Current $ 39,993 $ 29,943 $ 69,936 Long-term 22,888 38,669 61,557 Total, net $ 62,881 $ 68,612 $ 131,493 (1) Includes estimated unguaranteed residual values of $6,004 thousand for direct financing leases which have been sold and accounted for as sales. (2) Initial direct costs are shown net of amortization of $341 thousand. (3) For details on reserve for credit losses, refer to Note 5, “Reserves for Credit Losses.”
Investment in Operating Lease Equipment - Net	Operating leases—net represents leases that do not qualify as direct financing leases. The components of the operating leases—net are as follows (in thousands): June 30, March 31, 2018 2018 Cost of equipment under operating leases $ 16,265 $ 15,683 Accumulated depreciation (6,789 ) (8,729 ) Investment in operating lease equipment—net (1) $ 9,476 $ 6,954 (1) Includes estimated unguaranteed residual values of $2,467 thousand and $1,921 thousand as of June 30, 2018 and March 31, 2018, respectively.

GOODWILL AND OTHER INTANGIBLE28

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Jun. 30, 2018
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Changes in Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the three months ended June 30, 2018, (in thousands): Goodwill Accumulated Amortization / Impairment Loss Net Carrying Amount Balance as of March 31, 2018 $ 85,297 $ (8,673 ) $ 76,624 Foreign currency translations (140 ) - (140 ) Balance as of June 30, 2018 $ 85,157 $ (8,673 ) $ 76,484
Other Intangible Assets	Our other intangible assets consist of the following at June 30, 2018 and March 31, 2018 (in thousands): June 30, 2018 March 31, 2018 Gross Carrying Amount Accumulated Amortization / Impairment Loss Net Carrying Amount Gross Carrying Amount Accumulated Amortization / Impairment Loss Net Carrying Amount Customer relationships & other intangibles $ 41,839 $ (20,324 ) $ 21,515 $ 41,895 $ (18,634 ) $ 23,261 Capitalized software development 5,356 (2,197 ) 3,159 5,608 (2,567 ) 3,041 Total $ 47,195 $ (22,521 ) $ 24,674 $ 47,503 $ (21,201 ) $ 26,302

RESERVES FOR CREDIT LOSSES (Tab

RESERVES FOR CREDIT LOSSES (Tables)	3 Months Ended
	Jun. 30, 2018
RESERVES FOR CREDIT LOSSES [Abstract]
Activity in Reserves for Credit Losses	Activity in our reserves for credit losses for the three months ended June 30, 2018 and 2017 were as follows (in thousands): Accounts Receivable Notes Receivable Lease- Related Receivables Total Balance April 1, 2018 $ 1,538 $ 486 $ 640 $ 2,664 Provision for credit losses 123 - 56 179 Write-offs and other (1 ) - - (1 ) Balance June 30, 2018 $ 1,660 $ 486 $ 696 $ 2,842 Accounts Receivable Notes Receivable Lease- Related Receivables Total Balance April 1, 2017 $ 1,279 $ 3,434 $ 679 $ 5,392 Provision for credit losses (1 ) 67 202 268 Write-offs and other - (3,021 ) (165 ) (3,186 ) Balance June 30, 2017 $ 1,278 $ 480 $ 716 $ 2,474
Reserve for Credit Losses and Minimum Lease Payments Associated with Notes Receivable and Investment in Direct Financing and Sales-type Lease Balances Disaggregated Based on Our Impairment Method	Our reserves for credit losses and minimum payments associated with our notes receivables and lease-related receivables disaggregated based on of our impairment method were as follows (in thousands): June 30, 2018 March 31, 2018 Notes Receivable Lease- Related Receivables Notes Receivable Lease- Related Receivables Reserves for credit losses: Ending balance: collectively evaluated for impairment $ 424 $ 696 $ 424 $ 640 Ending balance: individually evaluated for impairment 62 - 62 - Ending balance $ 486 $ 696 $ 486 $ 640 Minimum payments: Ending balance: collectively evaluated for impairment $ 53,715 $ 74,522 $ 62,930 $ 65,943 Ending balance: individually evaluated for impairment 62 - 62 - Ending balance $ 53,777 $ 74,522 $ 62,992 $ 65,943
Balance Disaggregated Based on Internally Assigned CQR	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 rating (“CQR”) were as follows as of June 30, 2018 and March 31, 2018 (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 June 30, 2018 High CQR $ 421 $ 316 $ 2,354 $ 3,091 $ 489 $ 34,158 $ 37,738 $ (3,965 ) $ (19,831 ) $ 13,942 Average CQR 194 106 181 481 - 36,303 36,784 (3,136 ) (19,836 ) 13,812 Low CQR - - - - - - - - - - Total $ 615 $ 422 $ 2,535 $ 3,572 $ 489 $ 70,461 $ 74,522 $ (7,101 ) $ (39,667 ) $ 27,754 March 31, 2018 High CQR $ 143 $ 40 $ 43 $ 226 $ 224 $ 33,779 $ 34,229 $ (3,743 ) $ (17,207 ) $ 13,279 Average CQR 109 31 117 257 171 31,286 31,714 (2,749 ) (16,012 ) 12,953 Low CQR - - - - - - - - - - Total $ 252 $ 71 $ 160 $ 483 $ 395 $ 65,065 $ 65,943 $ (6,492 ) $ (33,219 ) $ 26,232
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR	The age of the recorded notes receivable balance disaggregated based on our internally assigned CQR were as follows as June 30, 2018 and March 31, 2018 (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 2017 June 30, 2018 High CQR $ 3,052 $ 9 $ 13 $ 3,074 $ 1,994 $ 37,737 $ 42,805 $ (30,378 ) $ 12,427 Average CQR 223 4 18 245 292 10,373 10,910 (4,978 ) 5,932 Low CQR - - 62 62 - - 62 - 62 Total $ 3,275 $ 13 $ 93 $ 3,381 $ 2,286 $ 48,110 $ 53,777 $ (35,356 ) $ 18,421 March 31, 2018 High CQR $ 175 $ 527 $ 423 $ 1,125 $ 3,262 $ 40,896 $ 45,283 $ (30,345 ) $ 14,938 Average CQR 42 409 22 473 394 16,780 17,647 (10,424 ) 7,223 Low CQR - - 62 62 - - 62 - 62 Total $ 217 $ 936 $ 507 $ 1,660 $ 3,656 $ 57,676 $ 62,992 $ (40,769 ) $ 22,223

PROPERTY, EQUIPMENT, OTHER AS30

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2018
PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES [Abstract]
Property, Equipment, Other Assets and Liabilities	Our property, equipment, other assets and liabilities consist of the following (in thousands): June 30, 2018 March 31, 2018 Other current assets: Deposits & funds held in escrow $ 9,675 $ 16,202 Prepaid assets 8,236 7,031 Other 408 392 Total other current assets $ 18,319 $ 23,625 Property, equipment and other assets Property and equipment, net $ 7,219 $ 7,510 Deferred costs 8,506 9,302 Other 1,867 2,331 Total other assets - long term $ 17,592 $ 19,143 Other current liabilities: Accrued expenses $ 6,616 $ 8,339 Accrued income taxes payable 283 175 Contingent consideration - current 5,835 5,806 Other 9,746 19,050 Total other current liabilities $ 22,480 $ 33,370 Other liabilities: Deferred revenue $ 11,936 $ 12,910 Contingent consideration - long-term 8,094 7,707 Other - 450 Total other liabilities - long term $ 20,030 $ 21,067

NOTES PAYABLE AND CREDIT FACI31

NOTES PAYABLE AND CREDIT FACILITY (Tables)	3 Months Ended
	Jun. 30, 2018
NOTES PAYABLE AND CREDIT FACILITY [Abstract]
Non-recourse and Recourse Obligations	Non-recourse and recourse obligations consist of the following (in thousands): June 30, 2018 March 31, 2018 Recourse notes payable with interest rate of 4.11% at March 31, 2018. Current $ - $ 1,343 Non-recourse notes payable secured by financing receivables and investments in operating leases with interest rates ranging from 2.04% to 8.45% as of June 30, 2018 and March 31, 2018. Current $ 42,121 $ 40,863 Long-term 12,477 10,072 Total non-recourse notes payable $ 54,598 $ 50,935

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jun. 30, 2018
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 income per common share as disclosed on our unaudited consolidated statements of operations for the three months ended June 30, 2018 and 2017, respectively (in thousands, except per share data). Three Months Ended 2018 2017 Net earnings attributable to common shareholders - basic and diluted $ 15,273 $ 13,423 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 13,434 13,806 Effect of dilutive shares 163 213 Weighted average shares common outstanding — diluted 13,597 14,019 Earnings per common share - basic $ 1.14 $ 0.97 Earnings per common share - diluted $ 1.12 $ 0.96

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Jun. 30, 2018
SHARE-BASED COMPENSATION [Abstract]
Summary of Restricted Shares	A summary of the restricted shares is as follows: Number of Shares Weighted Average Grant- date Fair Value Nonvested April 1, 2018 282,235 $ 51.69 Granted 70,688 $ 94.33 Vested (118,492 ) $ 48.91 Forfeited (814 ) $ 53.87 Nonvested June 30, 2018 233,617 $ 66.00

FAIR VALUE OF FINANCIAL INSTR34

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Jun. 30, 2018
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Fair Value Hierarchy of Financial Instruments	The following table summarizes the fair value hierarchy of our financial instruments as of June 30, 2018 and March 31, 2018 (in thousands): Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs June 30, 2018 Assets: Money market funds $ 18,041 $ 18,041 $ - $ - Liabilities: Contingent consideration $ 13,929 $ - $ - $ 13,929 March 31, 2018 Assets: Money market funds $ 60,385 $ 60,385 $ - $ - Liabilities: Contingent consideration $ 13,513 $ - $ - $ 13,513

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Jun. 30, 2018
SEGMENT REPORTING [Abstract]
Segment Reporting Information, by Reportable Segment	Our reportable segment information was as follows (in thousands): Three Months Ended June 30, 2018 June 30, 2017 Technology Financing Total Technology Financing Total Contracts with customers $ 341,459 $ 596 $ 342,055 $ 359,361 $ 2,815 $ 362,176 Financing and other 5,405 9,072 14,477 3,538 7,642 11,180 Net sales 346,864 9,668 356,532 362,899 10,457 373,356 Cost of sales 274,081 1,748 275,829 293,266 2,497 295,763 Gross profit 72,783 7,920 80,703 69,633 7,960 77,593 Selling, general, and administrative 54,454 2,512 56,966 51,501 3,163 54,664 Depreciation and amortization 2,789 1 2,790 2,062 1 2,063 Interest and financing costs - 476 476 - 359 359 Operating expenses 57,243 2,989 60,232 53,563 3,523 57,086 Operating income 15,540 4,931 20,471 16,070 4,437 20,507 Other income 97 271 Earnings before tax $ 20,568 $ 20,778 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 3,015 $ 1,485 $ 4,500 $ 2,095 $ 1,130 $ 3,225 Purchases of property, equipment and operating lease equipment $ 1,180 $ 450 $ 1,630 $ 1,091 $ 780 $ 1,871 Selected Financial Data - Balance Sheet Total assets $ 557,864 $ 202,535 $ 760,399 $ 577,398 $ 177,786 $ 755,184
Disaggregation of Revenue	Technology Segment Disaggregation of Revenue We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized below (in thousands): Three Months Ended June 30, 2018 2017 Customer end market: Technology $ 82,817 $ 89,355 Telecom, Media & Entertainment 46,868 57,405 Financial Services 45,225 38,291 SLED 68,205 77,163 Healthcare 46,450 46,486 All others 57,299 54,199 Net sales 346,864 362,899 Financing and other (5,405 ) (3,538 ) Revenue from contracts with customers $ 341,459 $ 359,361 Three Months Ended June 30, 2018 2017 Vendor: Cisco Systems $ 139,577 $ 174,256 NetApp 15,020 15,540 HP Inc. & HPE 20,355 28,360 Arista Networks 19,844 17,451 Juniper 10,431 9,381 All others 141,637 117,911 Net sales 346,864 362,899 Financing and other (5,405 ) (3,538 ) Revenue from contracts with customers $ 341,459 $ 359,361

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	3 Months Ended
	Jun. 30, 2018
Integrated Data Storage LLC [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable and other assets $ 14,353 Property and equipment 1,620 Identified intangible assets 13,650 Accounts payable and other current liabilities (12,313 ) Total identifiable net assets 17,310 Goodwill 21,088 Total purchase consideration $ 38,398
OneCloud Consulting, Inc [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable and other assets $ 488 Identified intangible assets 4,130 Accounts payable and other current liabilities (1,822 ) Total identifiable net assets 2,796 Goodwill 7,189 Total purchase consideration $ 9,985

ORGANIZATION AND SUMMARY OF S37

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
REVENUE RECOGNITION [Abstract]
Lease criteria minimum estimated economic life	75.00%
Lease criteria minimum fair value of lease payments at inception of lease	90.00%
Net Sales [Member] | Cisco Systems [Member]
Concentration of risk [Abstract]
Percentage of concentration risk	40.00%	49.00%

RECENT ACCOUNTING PRONOUNCEME38

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable-trade, net	$ 321,033		$ 268,287
Accounts receivable-other, net	37,628		28,401
Deferred costs	14,389		16,589
Deferred revenue	36,012		35,648
Net sales	342,055	$ 362,176
Cost of sales	$ 275,829	295,763
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ASU 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts receivable-trade, net			(1,900)
Accounts receivable-other, net			1,900
Deferred costs			(3,200)
Deferred revenue			$ (3,200)
Net sales		6,200
Cost of sales		$ 6,200

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Contract with Customer, Asset and Liability [Abstract]
Accounts receivable - trade	$ 21,000	$ 28,100
Current (included in deferred revenue)	34,448		$ 34,643
Non-current (included in other liabilities)	11,739		$ 12,699
Revenue recognized from the beginning contract liability	12,800	$ 19,500
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	29,359
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 14,868
Expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 9,105
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 4,811
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 421
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 153
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 1
Expected timing of satisfaction, period	1 year

FINANCING RECEIVABLES AND OPE40

FINANCING RECEIVABLES AND OPERATING LEASES (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2018		Jun. 30, 2017	Mar. 31, 2018		Mar. 31, 2017
Financing Receivables [Abstract]
Reserve for credit losses		$ (2,842)		$ (2,474)	$ (2,664)		$ (5,392)
Reported as [Abstract]
Current		70,619			69,936
Estimated unguaranteed residual values for direct financing lease		6,271			6,004
Accumulated amortization of initial direct cost		381			341
Investment in operating lease equipment - net [Abstract]
Cost of equipment under operating leases		16,265			15,683
Accumulated depreciation		(6,789)			(8,729)
Investment in operating lease equipment - net	[1]	9,476			6,954
Unguaranteed residual value of operating lease equipment net		2,467			1,921
Collateral for non-recourse notes payable - Finance receivables		52,900			52,000
Collateral for non-recourse notes payable - Operating leases		7,100			5,300
Gain on sale of financing receivables		1,300		2,300
Proceeds from sale of financing receivables		46,900		85,800
Contract liabilities - servicing of financial assets		500			500
Maximum potential future payments related guarantees		400
Notes Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		53,777			62,992
Estimated unguaranteed residual value		0	[2]		0	[3]
Initial direct costs, net of amortization		499	[4]		375	[5]
Unearned income		0			0
Reserve for credit losses		(486)	[6]	(480)	(486)	[6]	(3,434)
Total, net		53,790			62,881
Reported as [Abstract]
Current		34,408			39,993
Long-term		19,382			22,888
Total, net		53,790			62,881
Lease-Related Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		74,522			65,943
Estimated unguaranteed residual value		12,031	[2]		11,226	[3]
Initial direct costs, net of amortization		439	[4]		334	[5]
Unearned income		(8,889)			(8,251)
Reserve for credit losses		(696)	[6]	$ (716)	(640)	[6]	$ (679)
Total, net		77,407			68,612
Reported as [Abstract]
Current		36,211			29,943
Long-term		41,196			38,669
Total, net		77,407			68,612
Financing Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		128,299			128,935
Estimated unguaranteed residual value		12,031	[2]		11,226	[3]
Initial direct costs, net of amortization		938	[4]		709	[5]
Unearned income		(8,889)			(8,251)
Reserve for credit losses	[6]	(1,182)			(1,126)
Total, net		131,197			131,493
Reported as [Abstract]
Current		70,619			69,936
Long-term		60,578			61,557
Total, net		$ 131,197			$ 131,493
[1]	Includes estimated unguaranteed residual values of $2,467 thousand and $1,921 thousand as of June 30, 2018 and March 31, 2018, respectively.
[2]	Includes estimated unguaranteed residual values of $6,271 thousand for direct financing leases, which have been sold and accounted for as sales.
[3]	Includes estimated unguaranteed residual values of $6,004 thousand for direct financing leases which have been sold and accounted for as sales.
[4]	Initial direct costs are shown net of amortization of $381 thousand.
[5]	Initial direct costs are shown net of amortization of $341 thousand.
[6]	For details on reserve for credit losses, refer to Note 6, "Reserves for Credit Losses."

GOODWILL AND OTHER INTANGIBLE41

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2018USD ($)Unit	Jun. 30, 2017USD ($)	Mar. 31, 2018USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 85,297
Goodwill, Accumulated Amortization / Impairment Loss, Beginning Balance	(8,673)
Goodwill, Net Carrying Amount, Beginning Balance	76,624
Foreign currency translations	(140)
Goodwill, Ending Balance	85,157
Goodwill, Accumulated Amortization / Impairment Loss, Ending Balance	(8,673)
Goodwill, Net Carrying Amount, Ending Balance	$ 76,484
Number of reporting units | Unit	1
Other Intangible Assets [Abstract]
Intangibles assets, Gross carrying amount	$ 47,195		$ 47,503
Intangibles Assets, Accumulated amortization / Impairment Loss	(22,521)		(21,201)
Intangible assets, Net Carrying Amount	24,674		26,302
Total amortization expense for other intangible assets	1,800	$ 1,100
Customer Relationships and Other Intangibles [Member]
Other Intangible Assets [Abstract]
Intangibles assets, Gross carrying amount	41,839		41,895
Intangibles Assets, Accumulated amortization / Impairment Loss	(20,324)		(18,634)
Intangible assets, Net Carrying Amount	$ 21,515		23,261
Customer Relationships [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	3 years
Customer Relationships [Member] | Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	8 years
Capitalized Software Development [Member]
Other Intangible Assets [Abstract]
Intangibles assets, Gross carrying amount	$ 5,356		5,608
Intangibles Assets, Accumulated amortization / Impairment Loss	(2,197)		(2,567)
Intangible assets, Net Carrying Amount	$ 3,159		$ 3,041
Capitalized Software Development [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	3 years
Capitalized Software Development [Member] | Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	8 years
Trade Names and Trademarks [Member]
Other Intangible Assets [Abstract]
Estimated useful life	10 years

RESERVES FOR CREDIT LOSSES (Det

RESERVES FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2018		Mar. 31, 2018
Activity in reserves for credit losses [Roll Forward]
Balance	$ 2,664		$ 5,392
Provision for credit losses	179		268
Write-offs and other	(1)		(3,186)
Balance	2,842		2,474
Reserve for credit losses [Abstract]
Ending balance	2,664		5,392	$ 2,842		$ 2,664
Accounts Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,538		1,279
Provision for credit losses	123		(1)
Write-offs and other	(1)		0
Balance	1,660		1,278
Reserve for credit losses [Abstract]
Ending balance	1,538		1,279	1,660		1,538
Notes Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	486	[1]	3,434
Provision for credit losses	0		67
Write-offs and other	0		(3,021)
Balance	486	[1]	480
Reserve for credit losses [Abstract]
Ending balance: collectively evaluated for impairment				424		424
Ending balance: individually evaluated for impairment				62		62
Ending balance	486	[1]	3,434	486	[1]	486	[1]
Minimum payments [Abstract]
Ending balance: collectively evaluated for impairment				53,715		62,930
Ending balance: individually evaluated for impairment				62		62
Ending balance				53,777		62,992
Lease-Related Receivables [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	640	[1]	679
Provision for credit losses	56		202
Write-offs and other	0		(165)
Balance	696	[1]	716
Reserve for credit losses [Abstract]
Ending balance: collectively evaluated for impairment				696		640
Ending balance: individually evaluated for impairment				0		0
Ending balance	$ 640	[1]	$ 679	696	[1]	640	[1]
Minimum payments [Abstract]
Ending balance: collectively evaluated for impairment				74,522		65,943
Ending balance: individually evaluated for impairment				0		0
Ending balance				$ 74,522		$ 65,943
[1]	For details on reserve for credit losses, refer to Note 6, "Reserves for Credit Losses."

RESERVES FOR CREDIT LOSSES, CQR

RESERVES FOR CREDIT LOSSES, CQR (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	$ 3,572	$ 483
Current	489	395
Unbilled minimum lease payments	70,461	65,065
Total minimum lease payments	74,522	65,943
Unearned income	(7,101)	(6,492)
Non-recourse notes payable	(39,667)	(33,219)
Net credit exposure	27,754	26,232
Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	3,381	1,660
Current	2,286	3,656
Unbilled minimum lease payments	48,110	57,676
Total minimum lease payments	53,777	62,992
Non-recourse notes payable	(35,356)	(40,769)
Net credit exposure	$ 18,421	22,223
High CQR [Member] | Minimum [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Losses on net credit exposure	0.00%
High CQR [Member] | Maximum [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Losses on net credit exposure	5.00%
High CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	$ 3,091	226
Current	489	224
Unbilled minimum lease payments	34,158	33,779
Total minimum lease payments	37,738	34,229
Unearned income	(3,965)	(3,743)
Non-recourse notes payable	(19,831)	(17,207)
Net credit exposure	13,942	13,279
High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	3,074	1,125
Current	1,994	3,262
Unbilled minimum lease payments	37,737	40,896
Total minimum lease payments	42,805	45,283
Non-recourse notes payable	(30,378)	(30,345)
Net credit exposure	$ 12,427	14,938
Average CQR [Member] | Minimum [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Losses on net credit exposure	2.00%
Average CQR [Member] | Maximum [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Losses on net credit exposure	15.00%
Average CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	$ 481	257
Current	0	171
Unbilled minimum lease payments	36,303	31,286
Total minimum lease payments	36,784	31,714
Unearned income	(3,136)	(2,749)
Non-recourse notes payable	(19,836)	(16,012)
Net credit exposure	13,812	12,953
Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	245	473
Current	292	394
Unbilled minimum lease payments	10,373	16,780
Total minimum lease payments	10,910	17,647
Non-recourse notes payable	(4,978)	(10,424)
Net credit exposure	$ 5,932	7,223
Low CQR [Member] | Minimum [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Losses on net credit exposure	15.00%
Low CQR [Member] | Maximum [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Losses on net credit exposure	100.00%
Low CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	$ 0	0
Current	0	0
Unbilled minimum lease payments	0	0
Total minimum lease payments	0	0
Unearned income	0	0
Non-recourse notes payable	0	0
Net credit exposure	0	0
Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	62	62
Current	0	0
Unbilled minimum lease payments	0	0
Total minimum lease payments	62	62
Non-recourse notes payable	0	0
Net credit exposure	62	62
31 to 60 Days Past Due [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	615	252
31 to 60 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	3,275	217
31 to 60 Days Past Due [Member] | High CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	421	143
31 to 60 Days Past Due [Member] | High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	3,052	175
31 to 60 Days Past Due [Member] | Average CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	194	109
31 to 60 Days Past Due [Member] | Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	223	42
31 to 60 Days Past Due [Member] | Low CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	0	0
31 to 60 Days Past Due [Member] | Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	0	0
61 to 90 Days Past Due [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	422	71
61 to 90 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	13	936
61 to 90 Days Past Due [Member] | High CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	316	40
61 to 90 Days Past Due [Member] | High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	9	527
61 to 90 Days Past Due [Member] | Average CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	106	31
61 to 90 Days Past Due [Member] | Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	4	409
61 to 90 Days Past Due [Member] | Low CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	0	0
61 to 90 Days Past Due [Member] | Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	0	0
Greater than 90 Days Past Due [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	2,535	160
Greater than 90 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	93	507
Greater than 90 Days Past Due [Member] | High CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	2,354	43
Greater than 90 Days Past Due [Member] | High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	13	423
Greater than 90 Days Past Due [Member] | Average CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	181	117
Greater than 90 Days Past Due [Member] | Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	18	22
Greater than 90 Days Past Due [Member] | Low CQR [Member] | Investment in Direct Financing and Sales-type Leases that are Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	0	0
Greater than 90 Days Past Due [Member] | Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due	$ 62	$ 62

PROPERTY, EQUIPMENT, OTHER AS44

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Other current assets [Abstract]
Deposits & funds held in escrow	$ 9,675	$ 16,202
Prepaid assets	8,236	7,031
Other	408	392
Total other current assets	18,319	23,625
Property, equipment and other assets [Abstract]
Property and equipment, net	7,219	7,510
Deferred costs	8,506	9,302
Other	1,867	2,331
Total other assets - long term	17,592	19,143
Other current liabilities [Abstract]
Accrued expenses	6,616	8,339
Accrued income taxes payable	283	175
Contingent consideration - current	5,835	5,806
Other	9,746	19,050
Total other current liabilities	22,480	33,370
Other liabilities [Abstract]
Deferred revenue	11,936	12,910
Contingent consideration long-term	8,094	7,707
Other	0	450
Total other liabilities - long term	$ 20,030	$ 21,067

NOTES PAYABLE AND CREDIT FACI45

NOTES PAYABLE AND CREDIT FACILITY (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2018USD ($)Component	Jul. 17, 2018USD ($)	Mar. 31, 2018USD ($)
Recourse Notes Payable [Abstract]
Current	$ 0		$ 1,343
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Current	42,121		40,863
Long-term	12,477		10,072
Guarantor obligations for credit facility, maximum	400
Recourse Note Payable [Member]
Recourse Notes Payable [Abstract]
Current	0		$ 1,343
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Interest rate of notes			4.11%
Weighted average interest rate of notes			4.11%
Non-Recourse Note Payable [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Current	42,121		$ 40,863
Long-term	12,477		10,072
Total non-recourse notes payable	$ 54,598		$ 50,935
Weighted average interest rate of notes	4.31%		4.04%
Non-Recourse Note Payable [Member] | Minimum [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Interest rate of notes	2.04%		2.04%
Non-Recourse Note Payable [Member] | Maximum [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Interest rate of notes	8.45%		8.45%
WFCDF [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Number of components under credit facility | Component	2
Maximum borrowing capacity under credit facility	$ 250,000
Maturity date of credit facility	Oct. 31, 2018
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
Guarantor obligations for credit facility, maximum	$ 10,500
WFCDF [Member] | Subsequent Event [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Maximum borrowing capacity under credit facility		$ 325,000
WFCDF [Member] | Floor Plan Component [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Amount outstanding under credit facility	129,600		$ 112,100
WFCDF [Member] | Account Receivable Component [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Amount outstanding under credit facility	0		$ 0
Maximum borrowing capacity under credit facility	$ 30,000
WFCDF [Member] | Account Receivable Component [Member] | LIBOR [Member]
Non-recourse Notes Payable Secured by Financing Receivables and Investment in Operating Leases [Abstract]
Debt instrument term of variable rate	1 month
Basis spread on reference rate	2.50%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share, Basic and Diluted [Abstract]
Net earnings attributable to common shareholders - basic and diluted	$ 15,273	$ 13,423
Basic and diluted common shares outstanding [Abstract]
Weighted average common shares outstanding - basic (in shares)	13,434	13,806
Effect of dilutive shares (in shares)	163	213
Weighted average shares common outstanding - diluted (in shares)	13,597	14,019
Earnings per common share - basic (in dollars per share)	$ 1.14	$ 0.97
Earnings per common share - diluted (in dollars per share)	$ 1.12	$ 0.96

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Apr. 26, 2018	Aug. 15, 2017
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)	70,445	0
Common stock repurchased during the period	$ 5.5
Shares repurchased to satisfy tax withholding obligation (in shares)	37,086	54,546
Value of shares repurchased to satisfy tax withholding obligation	$ 3.6	$ 4.1

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Additional Disclosures [Abstract]
Vested share-based awards withheld to satisfy income tax obligations (in shares)	37,086	54,546
Vested share-based awards withheld to satisfy income tax obligations	$ 3,600	$ 4,100
Compensation Expense [Abstract]
Share-based compensation expense	1,693	1,507
401(k) Profit Sharing Plan [Abstract]
Contribution to profit sharing plan	$ 500	$ 600
Restricted Stock [Member]
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	282,235
Granted (in shares)	70,688
Vested (in shares)	(118,492)
Forfeited (in shares)	(814)
Nonvested at end of period (in shares)	233,617
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share)	$ 51.69
Granted (in dollars per share)	94.33
Vested (in dollars per share)	48.91
Forfeited (in dollars per share)	53.87
Nonvested at end of period (in dollars per share)	$ 66
Compensation Expense [Abstract]
Unrecognized compensation expense	$ 14,300
Unrecognized compensation expense, period for recognition	36 months
2017 Director LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)	841
2012 Employee LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)	69,847	66,530
Additional Disclosures [Abstract]
Vested share-based awards withheld to satisfy income tax obligations (in shares)	37,086
Vested share-based awards withheld to satisfy income tax obligations	$ 3,600
2008 Director LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)		282

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Millions	3 Months Ended
	Jun. 30, 2018USD ($)
INCOME TAXES [Abstract]
Additions or reductions to gross unrecognized tax benefits	$ 0

FAIR VALUE OF FINANCIAL INSTR50

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Assets [Abstract]
Money market funds	$ 18,041		$ 60,385
Liabilities [Abstract]
Contingent consideration	13,929		13,513
Adjustment to fair value of contingent consideration	400	$ 2,100
Payments of contingent consideration	0	$ 300
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Money market funds	18,041		60,385
Liabilities [Abstract]
Contingent consideration	0		0
Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Money market funds	0		0
Liabilities [Abstract]
Contingent consideration	0		0
Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Money market funds	0		0
Liabilities [Abstract]
Contingent consideration	$ 13,929		$ 13,513

SEGMENT REPORTING, Reportable S

SEGMENT REPORTING, Reportable Segment Information (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2018USD ($)Segment	Jun. 30, 2017USD ($)	Mar. 31, 2018USD ($)
SEGMENT REPORTING [Abstract]
Number of business segments | Segment	2
Reportable Segment Information [Abstract]
Revenue from contracts with customers	$ 342,055	$ 362,176
Financing and Other	14,477	11,180
Net sales	356,532	373,356
Cost of sales	275,829	295,763
Gross profit	80,703	77,593
Selling, general, and administrative	56,966	54,664
Depreciation and amortization	2,790	2,063
Interest and financing costs	476	359
Operating expenses	60,232	57,086
Operating income	20,471	20,507
Other income	97	271
Earnings before tax	20,568	20,778
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	4,500	3,225
Purchases of property, equipment and operating lease equipment	1,630	1,871
Selected Financial Data - Balance Sheet [Abstract]
Total assets	760,399	755,184	$ 755,471
Technology Segment [Member]
Reportable Segment Information [Abstract]
Revenue from contracts with customers	341,459	359,361
Financing and Other	5,405	3,538
Net sales	346,864	362,899
Operating Segments [Member] | Technology Segment [Member]
Reportable Segment Information [Abstract]
Revenue from contracts with customers	341,459	359,361
Financing and Other	5,405	3,538
Net sales	346,864	362,899
Cost of sales	274,081	293,266
Gross profit	72,783	69,633
Selling, general, and administrative	54,454	51,501
Depreciation and amortization	2,789	2,062
Interest and financing costs	0	0
Operating expenses	57,243	53,563
Operating income	15,540	16,070
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	3,015	2,095
Purchases of property, equipment and operating lease equipment	1,180	1,091
Selected Financial Data - Balance Sheet [Abstract]
Total assets	557,864	577,398
Operating Segments [Member] | Financing Segment [Member]
Reportable Segment Information [Abstract]
Revenue from contracts with customers	596	2,815
Financing and Other	9,072	7,642
Net sales	9,668	10,457
Cost of sales	1,748	2,497
Gross profit	7,920	7,960
Selling, general, and administrative	2,512	3,163
Depreciation and amortization	1	1
Interest and financing costs	476	359
Operating expenses	2,989	3,523
Operating income	4,931	4,437
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	1,485	1,130
Purchases of property, equipment and operating lease equipment	450	780
Selected Financial Data - Balance Sheet [Abstract]
Total assets	$ 202,535	$ 177,786

SEGMENT REPORTING, Technology S

SEGMENT REPORTING, Technology Segment Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Abstract]
Net sales	$ 356,532	$ 373,356
Financing and Other	(14,477)	(11,180)
Revenue from contracts with customers	342,055	362,176
Technology Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	346,864	362,899
Financing and Other	(5,405)	(3,538)
Revenue from contracts with customers	341,459	359,361
Technology Segment [Member] | Technology [Member]
Disaggregation of Revenue [Abstract]
Net sales	82,817	89,355
Technology Segment [Member] | Telecom, Media & Entertainment [Member]
Disaggregation of Revenue [Abstract]
Net sales	46,868	57,405
Technology Segment [Member] | Financial Services [Member]
Disaggregation of Revenue [Abstract]
Net sales	45,225	38,291
Technology Segment [Member] | SLED [Member]
Disaggregation of Revenue [Abstract]
Net sales	68,205	77,163
Technology Segment [Member] | Healthcare [Member]
Disaggregation of Revenue [Abstract]
Net sales	46,450	46,486
Technology Segment [Member] | All others [Member]
Disaggregation of Revenue [Abstract]
Net sales	57,299	54,199
Technology Segment [Member] | Cisco Systems [Member]
Disaggregation of Revenue [Abstract]
Net sales	139,577	174,256
Technology Segment [Member] | NetApp [Member]
Disaggregation of Revenue [Abstract]
Net sales	15,020	15,540
Technology Segment [Member] | HP Inc. & HPE [Member]
Disaggregation of Revenue [Abstract]
Net sales	20,355	28,360
Technology Segment [Member] | Arista Networks [Member]
Disaggregation of Revenue [Abstract]
Net sales	19,844	17,451
Technology Segment [Member] | Juniper [Member]
Disaggregation of Revenue [Abstract]
Net sales	10,431	9,381
Technology Segment [Member] | All others [Member]
Disaggregation of Revenue [Abstract]
Net sales	$ 141,637	$ 117,911

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Sep. 15, 2017	May 17, 2017	Jun. 30, 2018	Mar. 31, 2018
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill			$ 76,484	$ 76,624
Fair value of contingent consideration			$ 8,094	$ 7,707
Integrated Data Storage LLC [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable and other current assets	$ 14,353
Property and equipment	1,620
Identified intangible assets	13,650
Accounts payable and other current liabilities	(12,313)
Total identifiable net assets	17,310
Goodwill	21,088
Total purchase consideration	38,398
Cash portion of the acquisition	29,800
Receivables as a working capital adjustment	1,400
Fair value of contingent consideration	10,000
Fair value of contingent consideration, maximum	$ 15,000
Contingent consideration payout period			3 years
Integrated Data Storage LLC [Member] | Customer Relationships [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Estimated useful lives			8 years
OneCloud Consulting, Inc [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable and other current assets		$ 488
Identified intangible assets		4,130
Accounts payable and other current liabilities		(1,822)
Total identifiable net assets		2,796
Goodwill		7,189
Total purchase consideration		9,985
Cash portion of the acquisition		7,900
Fair value of contingent consideration		2,100
Fair value of contingent consideration, maximum		$ 4,500
Contingent consideration payout period			3 years
Percentage of stock acquired		100.00%
OneCloud Consulting, Inc [Member] | Customer Relationships [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Identified intangible assets		$ 1,700
Estimated useful lives			8 years
OneCloud Consulting, Inc [Member] | Internally Developed Processes [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Identified intangible assets		$ 2,400
Estimated useful lives			5 years