ScanSource (SCSC) 10-Q 9 Nov 23 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	000-26926
Entity Registrant Name	ScanSource, Inc.
Entity Incorporation, State or Country Code	SC
Entity Tax Identification Number	57-0965380
Entity Address, Address Line One	6 Logue Court
Entity Address, City or Town	Greenville
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29615
City Area Code	864
Local Phone Number	288-2432
Title of 12(b) Security	Common stock, no par value
Trading Symbol	SCSC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		24,966,931
Entity Central Index Key	0000918965
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 42,647	$ 36,178
Accounts receivable, less allowance of $19,570 at September 30, 2023 and $15,480 at June 30, 2023	691,669	753,236
Inventories	656,170	757,574
Prepaid expenses and other current assets	116,949	110,087
Total current assets	1,507,435	1,657,075
Property and equipment, net	36,745	37,379
Goodwill	215,152	216,706
Identifiable intangible assets, net	63,675	68,495
Deferred income taxes	16,421	17,764
Other non-current assets	59,107	70,750
Total assets	1,898,535	2,068,169
Current liabilities:
Accounts payable	617,594	691,119
Accrued expenses and other current liabilities	67,138	78,892
Income taxes payable	8,108	9,875
Current portion of long-term debt	8,209	6,915
Total current liabilities	701,049	786,801
Deferred income taxes	3,679	3,816
Long-term debt, net of current portion	141,774	144,006
Borrowings under revolving credit facility	98,125	178,980
Other long-term liabilities	38,655	49,268
Total liabilities	983,282	1,162,871
Commitments and contingencies
Shareholders’ equity:
Preferred stock, no par value; 3,000,000 shares authorized, none issued	0	0
Common stock, no par value; 45,000,000 shares authorized, 24,960,231 and 24,844,203 shares issued and outstanding at September 30, 2023 and June 30, 2023, respectively	59,501	58,241
Retained earnings	952,110	936,678
Accumulated other comprehensive loss	(96,358)	(89,621)
Total shareholders’ equity	915,253	905,298
Total liabilities and shareholders’ equity	$ 1,898,535	$ 2,068,169

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Current assets:
Allowance for accounts receivable	$ 19,570	$ 15,480
Shareholders’ equity:
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	45,000,000	45,000,000
Common stock, share issued (in shares)	24,960,231	24,844,203
Common stock, shares outstanding (in shares)	24,960,231	24,844,203

CONDENSED CONSOLIDATED INCOME S

CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 876,305	$ 943,813
Cost of goods sold	769,797	830,328
Gross profit	106,508	113,485
Selling, general and administrative expenses	75,436	71,593
Depreciation expense	2,795	2,763
Intangible amortization expense	4,193	4,241
Operating income	24,084	34,888
Interest expense	5,585	3,448
Interest income	(1,325)	(1,589)
Other expense, net	677	746
Income before income taxes	19,147	32,283
Provision for income taxes	3,715	8,241
Net income	$ 15,432	$ 24,042
Per share data:
Net income per common share, basic (in dollars per share)	$ 0.62	$ 0.95
Weighted-average shares outstanding, basic (in shares)	24,886	25,201
Net income per common share, diluted (in dollars per share)	$ 0.61	$ 0.94
Weighted-average shares outstanding, diluted (in shares)	25,178	25,451

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 15,432	$ 24,042
Unrealized gain on hedged transaction, net of tax	153	1,879
Foreign currency translation adjustment	(6,890)	(7,217)
Comprehensive income	$ 8,695	$ 18,704

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jun. 30, 2022		25,187,351
Beginning balance at Jun. 30, 2022	$ 806,528	$ 64,297	$ 846,869	$ (104,638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24,042		24,042
Unrealized gain on hedged transaction, net of tax	1,879			1,879
Foreign currency translation adjustment	(7,217)			(7,217)
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		38,551
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes	(586)	$ (586)
Share-based compensation	2,358	$ 2,358
Ending balance (in shares) at Sep. 30, 2022		25,225,902
Ending balance at Sep. 30, 2022	827,004	$ 66,069	870,911	(109,976)
Beginning balance (in shares) at Jun. 30, 2023		24,844,203
Beginning balance at Jun. 30, 2023	905,298	$ 58,241	936,678	(89,621)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,432		15,432
Unrealized gain on hedged transaction, net of tax	153			153
Foreign currency translation adjustment	(6,890)			(6,890)
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		116,028
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes	(1,510)	$ (1,510)
Share-based compensation	2,770	$ 2,770
Ending balance (in shares) at Sep. 30, 2023		24,960,231
Ending balance at Sep. 30, 2023	$ 915,253	$ 59,501	$ 952,110	$ (96,358)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 15,432	$ 24,042
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,217	7,228
Amortization of debt issue costs	96	289
Provision for doubtful accounts	4,157	125
Share-based compensation	2,769	2,316
Deferred income taxes	1,303	2,274
Finance lease interest	15	2
Changes in operating assets and liabilities:
Accounts receivable	53,284	(18,799)
Inventories	99,630	(62,192)
Prepaid expenses and other assets	(7,743)	14,690
Other non-current assets	11,227	(9,469)
Accounts payable	(70,292)	(1,053)
Accrued expenses and other liabilities	(21,764)	(13,168)
Income taxes payable	(1,798)	5,256
Net cash provided by (used in) operating activities	93,533	(48,459)
Cash flows from investing activities:
Capital expenditures	(2,315)	(684)
Net cash used in investing activities	(2,315)	(684)
Cash flows from financing activities:
Borrowings on revolving credit, net of expenses	588,570	579,011
Repayments on revolving credit, net of expenses	(669,424)	(542,147)
(Repayments) borrowings on long-term debt, net	(938)	18,402
Repayments on finance lease obligation	(191)	(303)
Debt issuance costs	0	(1,407)
Exercise of stock options	72	10
Taxes paid on settlement of equity awards	(1,582)	(596)
Net cash (used in) provided by financing activities	(83,493)	52,970
Effect of exchange rate changes on cash and cash equivalents	(1,256)	(1,342)
Increase in cash and cash equivalents	6,469	2,485
Cash and cash equivalents at beginning of period	36,178	37,987
Cash and cash equivalents at end of period	$ 42,647	$ 40,472

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Business and Summary of Significant Accounting Policies	Business and Summary of Significant Accounting Policies Business Description ScanSource, Inc. (together with its subsidiaries referred to as “the Company” or “ScanSource”) is a leading hybrid distributor connecting devices to the cloud and accelerating growth for partners across hardware, Software as a Service ("SaaS"), connectivity and cloud. The Company brings technology solutions and services from the world’s leading suppliers of mobility and barcode, point-of-sale ("POS"), payments, networking, physical security, unified communications and collaboration, telecom and cloud services to market. The Company operates in the United States, Canada, Brazil and the United Kingdom ("UK"). The Company's two operating segments, Specialty Technology Solutions and Modern Communications & Cloud, are based on technology type and are generally related to technology devices and communication, connectivity and cloud services, respectively. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared by the Company’s management in accordance with United States generally accepted accounting principles ("U.S. GAAP") for interim financial information and applicable rules and regulations of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. The unaudited condensed consolidated financial statements included herein contain all adjustments (consisting of normal recurring and non-recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position at September 30, 2023 and June 30, 2023, the results of operations for the quarters ended September 30, 2023 and 2022, the condensed consolidated statements of comprehensive income for the quarters ended September 30, 2023 and 2022, the condensed consolidated statements of shareholders' equity for the quarters ended September 30, 2023 and 2022 and the condensed consolidated statements of cash flows for the quarters ended September 30, 2023 and 2022. The results of operations for the quarter ended September 30, 2023 are not necessarily indicative of the results to be expected for a full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023. Unless otherwise indicated, disclosures provided in the Notes pertain to continuing operations only. Summary of Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies for the quarter ended September 30, 2023 from the policies described in the notes to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended June 30, 2023. For a discussion of the Company’s significant accounting policies, please see the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023. Cash and Cash Equivalents The Company considers all highly-liquid investments with original maturities of three months or less, when purchased, to be cash equivalents. The Company maintains zero-balance disbursement accounts at various financial institutions at which the Company does not maintain significant depository relationships. Due to the terms of the agreements governing these accounts, the Company generally does not have the right to offset outstanding checks written from these accounts against cash on hand, and the respective institutions are not legally obligated to honor the checks until sufficient funds are transferred to fund the checks. As a result, checks released but not yet cleared from these accounts in the amounts of $10.3 million and $8.0 million are included in accounts payable on the condensed consolidated balance sheets at September 30, 2023 and June 30, 2023, respectively. Long-lived Assets The Company presents depreciation expense and intangible amortization expense on the condensed consolidated income statements. The Company's depreciation expense related to selling, general and administrative costs totaled $2.8 million for the quarters ended September 30, 2023 and 2022. Depreciation expense reported as part of cost of goods sold on the condensed consolidated income statements totaled $0.2 million for the quarters ended September 30, 2023 and 2022. The Company's intangible amortization expense reported on the condensed consolidated income statements relates to selling, general and administrative costs, not the cost of selling goods. Intangible amortization expense totaled $4.2 million for the quarters ended September 30, 2023 and 2022. Recent Accounting Pronouncements In July 2023, the Securities and Exchange Commission issued final rules that require new and enhanced disclosures on cybersecurity risk management, strategy, governance, and incident reporting. Under the final rules, companies must report material cybersecurity incidents within four business days of determining the incident is material on Form 8-K. As additional information about the material aspects of the previously reported incidents become available, a Form 8-K/A must be filed with the additional disclosures. These disclosure requirements on Form 8-K are effective beginning December 18, 2023. For fiscal years ending on or after December 15, 2023, companies must disclose their cybersecurity processes, management's role in cybersecurity governance, and cybersecurity oversight by the Board of Directors on Form 10-K. The Company has reviewed newly issued accounting pronouncements and concluded that they are either not applicable to its business or that no material effect is expected on its consolidated financial statements as a result of future adoption.

Trade Accounts and Notes Receiv

Trade Accounts and Notes Receivable, Net	3 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Trade Accounts and Notes Receivable, Net	Trade Accounts and Notes Receivable, Net The Company maintains an allowance for doubtful accounts receivable for estimated future expected credit losses resulting from customers’ failure to make payments on accounts receivable due to the Company. The Company has notes receivable with certain customers, which are included in “Accounts receivable, less allowance” in the Condensed Consolidated Balance Sheets. Management determines the estimate of the allowance for doubtful accounts receivable by considering a number of factors, including: (i) historical experience, (ii) aging of the accounts receivable, (iii) specific information obtained by the Company on the financial condition and the current creditworthiness of its customers, (iv) the current economic and country-specific environment and (v) reasonable and supportable forecasts about collectability. Expected credit losses are estimated on a pool basis when similar risk characteristics exist using an age-based reserve model. Receivables that do not share risk characteristics are evaluated on an individual basis. Estimates of expected credit losses on trade receivables over the contractual life are recorded at inception and adjusted over the contractual life. The changes in the allowance for doubtful accounts for the three months ended September 30, 2023 are set forth in the table below. June 30, 2023 Amounts Charged to Expense Write-offs Other (1) September 30, 2023 (in thousands) Trade accounts and current notes receivable allowance $ 15,480 $ 4,157 $ (594) $ 527 $ 19,570

Revenue Recognition

Revenue Recognition	3 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue RecognitionThe Company provides technology solutions and services from the world's leading suppliers of mobility, barcode, POS, payments, physical security, unified communications, collaboration, telecom and cloud services. This includes hardware, related accessories and device configuration as well as software licenses, professional services and hardware support programs. In determining the appropriate amount of revenue to recognize, the Company applies the following five-step model: (i) identify contracts with customers; (ii) identify performance obligations in the contracts; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations per the contracts; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company recognizes revenue as control of products and services are transferred to customers, which is generally at the point of shipment. The Company delivers products to customers in several ways, including: (i) shipment from a Company warehouse, (ii) drop-shipment directly from the supplier, or (iii) electronic delivery for non-physical products. Principal versus Agent Considerations The Company is the principal for sales of all hardware and certain software and services. The Company considers itself the principal in those transactions where it has control of the product or service before it is transferred to the customer. The Company recognizes the principal-associated revenue and cost of goods sold on a gross basis. The Company is the agent for third-party service contracts, including product warranties and supplier-hosted software. These service contracts are sold separately from the products, and the Company often serves as the agent for the contract on behalf of the original equipment manufacturer. The Company's responsibility is to arrange for the provision of the specified service by the original equipment manufacturer, and the Company does not control the specified service before it is transferred to the customer. Because the Company acts as an agent, revenue is recognized net of cost at the time of sale. The Intelisys business operates under an agency model. Variable Considerations For certain transactions, products are sold with a right of return and may also provide other rebates or incentives, which are accounted for as variable consideration. The Company estimates a returns allowance based on historical experience and reduces revenue accordingly. The Company estimates the amount of variable consideration for rebates and incentives by using the expected value to be given to the customer and reduces the revenue by those estimated amounts. These estimates are reviewed and updated as necessary at the end of each reporting period. Contract Balances The Company records contract assets and liabilities for payments received from customers in advance of services performed. These assets and liabilities are the result of the sales of the Company's self-branded warranty programs and other transactions where control has not yet passed to the customer. These amounts are immaterial to the consolidated financial statements for the periods presented. Disaggregation of Revenue The following tables represent the Company's disaggregation of revenue: Quarter ended September 30, 2023 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service Hardware, software and cloud (excluding Intelisys) $ 509,570 $ 346,232 $ 855,802 Intelisys connectivity and cloud — 20,503 20,503 $ 509,570 $ 366,735 $ 876,305 Quarter ended September 30, 2022 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service Hardware, software and cloud (excluding Intelisys) $ 576,329 $ 348,631 $ 924,960 Intelisys connectivity and cloud — 18,853 18,853 $ 576,329 $ 367,484 $ 943,813

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding. Quarter ended September 30, 2023 2022 (in thousands, except per share data) Numerator: Net income $ 15,432 $ 24,042 Denominator: Weighted-average shares, basic 24,886 25,201 Dilutive effect of share-based payments 292 250 Weighted-average shares, diluted 25,178 25,451 Net income per common share, basic $ 0.62 $ 0.95 Net income per common share, diluted $ 0.61 $ 0.94 For the quarters ended September 30, 2023 and 2022, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 854,893 and 1,128,445, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of tax are as follows: September 30, 2023 June 30, 2023 (in thousands) Foreign currency translation adjustment $ (100,026) $ (93,136) Unrealized gain on hedged transaction, net of tax 3,668 3,515 Accumulated other comprehensive loss $ (96,358) $ (89,621) The tax effect of amounts in comprehensive loss reflect a tax (benefit) expense as follows: Quarter ended September 30, 2023 2022 (in thousands) Tax (benefit) expense $ (54) $ 414

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	3 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill for the quarter ended September 30, 2023, by reporting segment, are set forth in the table below. Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Balance at June 30, 2023 $ 16,370 $ 200,336 $ 216,706 Foreign currency translation adjustment — (1,554) (1,554) Balance at September 30, 2023 $ 16,370 $ 198,782 $ 215,152 The following table shows changes in the amount recognized for net identifiable intangible assets for the three months ended September 30, 2023. Net Identifiable Intangible Assets (in thousands) Balance at June 30, 2023 $ 68,495 Amortization expense (4,193) Foreign currency translation adjustment (627) Balance at September 30, 2023 $ 63,675

Short-Term Borrowings and Long-

Short-Term Borrowings and Long-Term Debt	3 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Short-Term Borrowings and Long-Term Debt	Short-Term Borrowings and Long-Term Debt The following table presents the Company’s debt at September 30, 2023 and June 30, 2023. September 30, 2023 June 30, 2023 (in thousands) Current portion of long-term debt $ 8,209 $ 6,915 Mississippi revenue bond, net of current portion 3,024 3,381 Senior secured term loan facility, net of current portion 138,750 140,625 Borrowings under revolving credit facility 98,125 178,980 Total debt $ 248,108 $ 329,901 Credit Facility The Company has a multi-currency senior secured credit facility (as amended, the "Amended Credit Agreement") with JPMorgan Chase Bank N.A., as administrative agent, and a syndicate of banks (collectively the "Lenders"). On September 28, 2022, the Company amended and restated the Amended Credit Agreement, which includes (i) a five-year, $350 million multicurrency senior secured revolving credit facility and (ii) a five-year $150 million senior secured term loan facility. The Amended Credit Agreement extended the credit facility maturity date to September 28, 2027. In addition, pursuant to an “accordion feature,” the Company may increase its borrowings up to an additional $250 million, subject to obtaining additional credit commitments from the lenders participating in the increase. The Amended Credit Agreement allows for the issuance of up to $50 million for letters of credit. Borrowings under the Amended Credit Agreement are guaranteed by substantially all of the domestic assets of the Company and its domestic subsidiaries. Under the terms of the revolving credit facility, the payment of cash dividends is restricted. The Company incurred debt issuance costs of $1.4 million in connection with the amendment and restatement of the Amended Credit Agreement. These costs were capitalized to other non-current assets on the Condensed Consolidated Balance Sheets and added to the unamortized debt issuance costs from the previous credit facility. Loans denominated in U.S. dollars, other than swingline loans, bear interest at a rate per annum equal to, at the Company’s option, (i) the adjusted term Secured Overnight Financing Rate ("SOFR") or adjusted daily simple SOFR plus an additional margin ranging from 1.00% to 1.75% depending upon the Company’s ratio of (A) total consolidated debt less up to $30 million of unrestricted domestic cash to (B) trailing four-quarter consolidated EBITDA measured as of the end of the most recent year or quarter, as applicable, for which financial statements have been delivered to the Lenders (the “leverage ratio”); or (ii) the alternate base rate plus an additional margin ranging from 0% to 0.75%, depending upon the Company’s leverage ratio, plus, if applicable, certain mandatory costs. All swingline loans denominated in U.S. dollars bear interest based upon the adjusted daily simple SOFR plus an additional margin ranging from 1.00% to 1.75% depending upon the Company's leverage ratio, or such other rate as the Company and the applicable swingline lender may agree. The adjusted term SOFR and adjusted daily simple SOFR include a fixed credit adjustment of 0.10% over the applicable SOFR reference rate. Loans denominated in foreign currencies bear interest at a rate per annum equal to the applicable benchmark rate set forth in the Amended Credit Agreement plus an additional margin ranging from 1.00% to 1.75%, depending upon the Company’s leverage ratio plus, if applicable, certain mandatory costs. During the quarter ended September 30, 2023, the Company's borrowings under the credit facility were U.S. dollar loans. The spread in effect as of September 30, 2023 was 1.50%, plus a 0.10% credit spread adjustment for SOFR-based loans and 0.50% for alternate base rate loans. The commitment fee rate in effect at September 30, 2023 was 0.25%. The Amended Credit Agreement includes customary representations, warranties and affirmative and negative covenants, including financial covenants. Specifically, the Company’s Leverage Ratio must be less than or equal to 3.50 to 1.00 at all times. In addition, the Company’s Interest Coverage Ratio (as such term is defined in the Amended Credit Agreement) must be at least 3.00 to 1.00 at the end of each fiscal quarter. In the event of a default, customary remedies are available to the lenders, including acceleration and increased interest rates. The Company was in compliance with all covenants under the credit facility at September 30, 2023. The average daily outstanding balance on the revolving credit facility, excluding the term loan facility, during the three month periods ended September 30, 2023 and 2022 was $200.9 million and $200.5 million, respectively. There was $251.9 million and $171.0 million available for additional borrowings as of September 30, 2023 and June 30, 2023, respectively. The effective interest rates for the revolving line of credit were 6.92% and 6.74% as of September 30, 2023 and June 30, 2023, respectively. There were no letters of credit issued under the multi-currency revolving credit facility at September 30, 2023 or June 30, 2023. Mississippi Revenue Bond On August 1, 2007, the Company entered into an agreement with the State of Mississippi to provide financing for the acquisition and installation of certain equipment to be utilized at the Company’s Southaven, Mississippi warehouse, through the issuance of an industrial development revenue bond. The bond matures on September 1, 2032. The bond accrues interest at the one-month term SOFR plus an adjustment of 0.10% plus a spread of 0.85%. The terms of the bond allow for payment of interest only for the first 10 years of the agreement. Starting on September 1, 2018 through 2032, principal and interest payments are due until the maturity date or the redemption of the bond. The agreement also provides the bondholder with a put option, exercisable only within 180 days of each fifth anniversary of the agreement, requiring the Company to pay back the bonds at 100% of the principal amount outstanding. At September 30, 2023, the Company was in compliance with all covenants under this bond. The interest rates at September 30, 2023 and June 30, 2023 were 6.28% and 6.11%, respectively. Debt Issuance Costs At September 30, 2023, net debt issuance costs associated with the credit facility and bond totaled $1.5 million and are being amortized on a straight-line basis through the maturity date of each respective debt instrument.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Sep. 30, 2023
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company's results of operations could be materially impacted by significant changes in foreign currency exchange rates and interest rates. In an effort to manage the exposure to these risks, the Company periodically enters into various derivative instruments. The Company's accounting policies for these instruments are based on whether the instruments are designated as hedge or non-hedge instruments in accordance with U.S. GAAP. The Company records all derivatives on the Condensed Consolidated Balance Sheet at fair value. Derivatives that are not designated as hedging instruments or the ineffective portions of cash flow hedges are adjusted to fair value through earnings in other income and expense. Foreign Currency Derivatives – The Company conducts a portion of its business internationally in a variety of foreign currencies and is exposed to market risk for changes in foreign currency exchange rates. The Company attempts to hedge transaction exposures with natural offsets to the fullest extent possible and once these opportunities have been exhausted the Company uses currency options and forward contracts or other hedging instruments with third parties. These contracts will periodically hedge the exchange of various currencies, including the U.S. dollar, Brazilian real, euro, British pound and Canadian dollar. The Company had contracts outstanding for purposes of managing cash flows with notional amounts of $34.4 million and $34.3 million for the exchange of foreign currencies at September 30, 2023 and June 30, 2023, respectively. To date, the Company has chosen not to designate these derivatives as hedging instruments, and accordingly, these instruments are adjusted to fair value through earnings in other income and expense. Summarized financial information related to these derivative contracts and changes in the underlying value of the foreign currency exposures included in the Condensed Consolidated Income Statements for the quarter ended September 30, 2023 and 2022 are as follows: Quarter ended September 30, 2023 2022 (in thousands) Net foreign exchange derivative contract (gains) losses $ (368) $ 438 Net foreign currency transactional and re-measurement losses 1,064 484 Net foreign currency exchange losses $ 696 $ 922 Net foreign currency exchange gains and losses consist of foreign currency transactional and functional currency re-measurements, offset by net foreign currency exchange contract gains and losses and are included in other income and expense. Foreign exchange gains and losses are generated as the result of fluctuations in the value of the U.S. dollar versus the Brazilian real, the U.S. dollar versus the euro, the British pound versus the euro, and the Canadian dollar versus the U.S. dollar. Interest Rates - The Company’s earnings are also affected by changes in interest rates due to the impact those changes have on interest expense from floating rate debt instruments. The Company manages its exposure to changes in interest rates by using interest rate swaps to hedge this exposure and to achieve a desired proportion of fixed versus floating rate debt. On April 30, 2019, the Company entered into an interest rate swap agreement to lock into a fixed LIBOR interest rate, which was amended on September 28, 2022, to change the reference rate from LIBOR to SOFR. The swap agreement has a notional amount of $100.0 million, with a $50.0 million tranche scheduled to mature on April 30, 2024 and a $50.0 million tranche scheduled to mature April 30, 2026. On March 31, 2023, the Company entered into an interest rate swap agreement to lock into a fixed SOFR interest rate with a notional amount of $25 million and a maturity date of March 31, 2028. These interest rate swap agreements are designated as cash flow hedges to hedge the variable rate interest payments on the revolving credit facility. Interest rate differentials paid or received under the swap agreements are recognized as adjustments to interest expense. To the extent the swaps are effective in offsetting the variability of the hedged cash flows, changes in the fair value of the swaps are not included in current earnings but are reported as other comprehensive income (loss). There was no ineffective portion to be recorded as an adjustment to earnings for the quarter ended September 30, 2023 and 2022. The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive Income for the quarter ended September 30, 2023 and 2022, are as follows: Quarter ended September 30, 2023 2022 (in thousands) Net interest (income) expense recognized as a result of interest rate swap $ (759) $ 32 Unrealized gain in fair value of interest rate swap 974 2,500 Net increase in accumulated other comprehensive income 215 2,532 Income tax effect 62 653 Net increase in accumulated other comprehensive income, net of tax $ 153 $ 1,879 The Company used the following derivative instruments at September 30, 2023 and June 30, 2023, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above: September 30, 2023 June 30, 2023 Balance Sheet Location Fair Value of Fair Value of Fair Value of Fair Value of (in thousands) Derivative assets: Foreign exchange contracts Prepaid expenses and other current assets — $27 — $1 Foreign currency hedge Prepaid expenses and other current assets — — $100 — Interest rate swap agreement Other non-current assets $4,902 — $4,687 — Derivative liabilities: Foreign currency hedge Accrued expenses and other current liabilities $108 — — —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Under this guidance, the Company classifies certain assets and liabilities based on the fair value hierarchy, which aggregates fair value measured assets and liabilities based upon the following levels of inputs: • Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and • Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The assets and liabilities maintained by the Company that are required to be measured at fair value on a recurring basis include deferred compensation plan investments, forward foreign currency exchange contracts, foreign currency hedge agreements and interest rate swap agreements. The carrying value of debt is considered to approximate fair value, as the Company’s debt instruments are indexed to a variable rate using the market approach (Level 2). The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at September 30, 2023: Total Quoted Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 28,773 $ 28,773 $ — Forward foreign currency exchange contracts 27 — 27 Interest rate swap agreement 4,902 — 4,902 Total assets at fair value $ 33,702 $ 28,773 $ 4,929 Liabilities: Deferred compensation plan investments, current and non-current portion $ 28,773 $ 28,773 $ — Foreign currency hedge 108 — 108 Total liabilities at fair value $ 28,881 $ 28,773 $ 108 The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at June 30, 2023: Total Quoted Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 28,209 $ 28,209 $ — Forward foreign currency exchange contracts 1 — 1 Foreign currency hedge 100 — 100 Interest rate swap agreement 4,687 — 4,687 Total assets at fair value $ 32,997 $ 28,209 $ 4,788 Liabilities: Deferred compensation plan investments, current and non-current portion $ 28,229 $ 28,229 $ — Total liabilities at fair value $ 28,229 $ 28,229 $ — The investments in the deferred compensation plan are held in a "rabbi trust" and include mutual funds and cash equivalents for payment of non-qualified benefits for certain retired, terminated and active employees. These investments are recorded to prepaid expenses and other current assets or other non-current assets depending on their corresponding, anticipated distribution dates to recipients, which are reported in accrued expenses and other current liabilities or other long-term liabilities, respectively. Derivative instruments, such as foreign currency forward contracts, are measured using the market approach on a recurring basis considering foreign currency spot rates and forward rates quoted by banks or foreign currency dealers and interest rates quoted by banks (Level 2). Fair values of interest rate swaps are measured using standard valuation models with inputs that can be derived from observable market transactions, including SOFR spot and forward rates (Level 2). Foreign currency contracts and interest rate swap agreements are classified in the Condensed Consolidated Balance Sheets as prepaid expenses and other non-current assets or accrued expenses and other long-term liabilities, depending on the respective instruments' favorable or unfavorable positions. See Note 8 - Derivatives and Hedging Activities .

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]
Segment Information	Segment Information The Company is a leading provider of technology solutions and services to customers in specialty technology markets. The Company has two reportable segments, based on technology type. Specialty Technology Solutions Segment The Specialty Technology Solutions segment includes the Company’s business in mobility and barcode, POS, payments, security and networking technologies. Mobility and barcode solutions include mobile computing, barcode scanners and imagers, radio frequency identification devices, barcode printing and related services. POS and payments solutions include POS systems, integrated POS software platforms, self-service kiosks including self-checkout, payment terminals and mobile payment devices. Security solutions include video surveillance and analytics, video management software and access control. Networking solutions include switching, routing and wireless products and software. The Company has business operations within this segment in the United States, Canada and Brazil. Modern Communications & Cloud Segment The Modern Communications & Cloud segment includes the Company’s business in communications and collaboration, connectivity and cloud services. Communications and collaboration solutions, delivered in the cloud, on-premise or hybrid, include voice, video, integration of communication platforms and contact center solutions. The Intelisys connectivity and cloud marketplace offers telecom, cable, Unified Communications as a Service (“UCaaS”), Contact Center as a Service (“CCaaS”), Infrastructure as a Service, Software-Defined Wide-Area Network and other cloud services. This segment includes SaaS and subscription services, which the Company offers using digital tools and platforms. The Company has business operations within this segment in the United States, Canada, Brazil and the UK. Selected financial information for each business segment is presented below: Quarter ended September 30, 2023 2022 (in thousands) Sales: Specialty Technology Solutions $ 509,570 $ 576,329 Modern Communications & Cloud 366,735 367,484 $ 876,305 $ 943,813 Depreciation and amortization: Specialty Technology Solutions $ 2,756 $ 2,702 Modern Communications & Cloud 3,741 3,649 Corporate 720 877 $ 7,217 $ 7,228 Operating income (loss): Specialty Technology Solutions $ 11,872 $ 21,852 Modern Communications & Cloud 12,413 13,036 Corporate (201) — $ 24,084 $ 34,888 Capital expenditures: Specialty Technology Solutions $ (1,261) $ (195) Modern Communications & Cloud (1,054) (489) $ (2,315) $ (684) Sales by Geography Category: United States and Canada $ 792,464 $ 861,602 International 85,305 84,275 Less intercompany sales (1,464) (2,064) $ 876,305 $ 943,813 September 30, 2023 June 30, 2023 (in thousands) Assets: Specialty Technology Solutions $ 1,016,749 $ 1,104,103 Modern Communications & Cloud 881,786 964,066 Corporate — — $ 1,898,535 $ 2,068,169 Property and equipment, net by Geography Category: United States and Canada $ 26,023 $ 27,323 International 10,722 10,056 $ 36,745 $ 37,379

Leases

Leases	3 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases In accordance with Accounting Standards Codification ("ASC") 842, at contract inception the Company determines if a contract contains a lease by assessing whether the contract contains an identified asset and whether the Company has the ability to control the asset. The Company also determines if the lease meets the classification criteria for an operating lease versus a finance lease under ASC 842. Substantially all of the Company's leases are operating leases for real estate, warehouse and office equipment ranging in duration from 1 year to 10 years. The Company has elected not to record short-term operating leases with an initial term of 12 months or less on the Condensed Consolidated Balance Sheets. Operating leases are recorded as other non-current assets, accrued expenses and other current liabilities and other long-term liabilities on the Condensed Consolidated Balance Sheets. The Company has finance leases for information technology equipment expiring through fiscal year 2027. Finance leases are recorded as property and equipment, net accrued expenses and other current liabilities other long-term liabilities Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the net present value of future minimum lease payments over the lease term. The Company generally is not able to determine the rate implicit in its leases and has elected to apply an incremental borrowing rate as the discount rate for the present value determination, which is based on the Company's cost of borrowings for the relevant terms of each lease and geographical economic factors. Certain operating lease agreements contain options to extend or terminate the lease. The lease term used is adjusted for these options when the Company is reasonably certain it will exercise the option. Operating lease expense is recognized on a straight-line basis over the lease term. Variable lease payments not based on a rate or index, such as costs for common area maintenance, are expensed as incurred. Further, the Company has elected the practical expedient to recognize all lease and non-lease components as a single lease component, where applicable. The following table presents amounts recorded on the Condensed Consolidated Balance Sheets related to operating leases at September 30, 2023 and June 30, 2023: September 30, 2023 June 30, 2023 Operating leases Balance Sheet location (in thousands) Operating lease right-of-use assets Other non-current assets $ 11,775 $ 12,539 Current operating lease liabilities Accrued expenses and other current liabilities $ 4,270 $ 4,355 Long-term operating lease liabilities Other long-term liabilities $ 8,569 $ 9,329 The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarter ended September 30, 2023 and 2022. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less. Quarter ended September 30, 2023 2022 (in thousands) Operating lease cost $ 1,209 $ 1,286 Variable lease cost 383 344 $ 1,592 $ 1,630 Supplemental cash flow information related to the Company's operating leases for the three months ended September 30, 2023 and 2022 are presented in the table below: Quarter ended September 30, 2023 2022 (in thousands) Cash paid for amounts in the measurement of lease liabilities $ 1,412 $ 1,339 Right-of-use assets obtained in exchange for lease obligations 230 111 The weighted-average remaining lease term and discount rate at September 30, 2023 are presented in the table below: September 30, 2023 Weighted-average remaining lease term 3.41 years Weighted-average discount rate 4.58 % The following table presents the maturities of the Company's operating lease liabilities at September 30, 2023: Operating leases (in thousands) 2024 $ 3,769 2025 3,677 2026 3,096 2027 2,678 2028 632 Thereafter — Total future payments 13,852 Less: amounts representing interest 1,013 Present value of lease payments $ 12,839
Leases	Leases In accordance with Accounting Standards Codification ("ASC") 842, at contract inception the Company determines if a contract contains a lease by assessing whether the contract contains an identified asset and whether the Company has the ability to control the asset. The Company also determines if the lease meets the classification criteria for an operating lease versus a finance lease under ASC 842. Substantially all of the Company's leases are operating leases for real estate, warehouse and office equipment ranging in duration from 1 year to 10 years. The Company has elected not to record short-term operating leases with an initial term of 12 months or less on the Condensed Consolidated Balance Sheets. Operating leases are recorded as other non-current assets, accrued expenses and other current liabilities and other long-term liabilities on the Condensed Consolidated Balance Sheets. The Company has finance leases for information technology equipment expiring through fiscal year 2027. Finance leases are recorded as property and equipment, net accrued expenses and other current liabilities other long-term liabilities Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the net present value of future minimum lease payments over the lease term. The Company generally is not able to determine the rate implicit in its leases and has elected to apply an incremental borrowing rate as the discount rate for the present value determination, which is based on the Company's cost of borrowings for the relevant terms of each lease and geographical economic factors. Certain operating lease agreements contain options to extend or terminate the lease. The lease term used is adjusted for these options when the Company is reasonably certain it will exercise the option. Operating lease expense is recognized on a straight-line basis over the lease term. Variable lease payments not based on a rate or index, such as costs for common area maintenance, are expensed as incurred. Further, the Company has elected the practical expedient to recognize all lease and non-lease components as a single lease component, where applicable. The following table presents amounts recorded on the Condensed Consolidated Balance Sheets related to operating leases at September 30, 2023 and June 30, 2023: September 30, 2023 June 30, 2023 Operating leases Balance Sheet location (in thousands) Operating lease right-of-use assets Other non-current assets $ 11,775 $ 12,539 Current operating lease liabilities Accrued expenses and other current liabilities $ 4,270 $ 4,355 Long-term operating lease liabilities Other long-term liabilities $ 8,569 $ 9,329 The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarter ended September 30, 2023 and 2022. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less. Quarter ended September 30, 2023 2022 (in thousands) Operating lease cost $ 1,209 $ 1,286 Variable lease cost 383 344 $ 1,592 $ 1,630 Supplemental cash flow information related to the Company's operating leases for the three months ended September 30, 2023 and 2022 are presented in the table below: Quarter ended September 30, 2023 2022 (in thousands) Cash paid for amounts in the measurement of lease liabilities $ 1,412 $ 1,339 Right-of-use assets obtained in exchange for lease obligations 230 111 The weighted-average remaining lease term and discount rate at September 30, 2023 are presented in the table below: September 30, 2023 Weighted-average remaining lease term 3.41 years Weighted-average discount rate 4.58 % The following table presents the maturities of the Company's operating lease liabilities at September 30, 2023: Operating leases (in thousands) 2024 $ 3,769 2025 3,677 2026 3,096 2027 2,678 2028 632 Thereafter — Total future payments 13,852 Less: amounts representing interest 1,013 Present value of lease payments $ 12,839

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is, from time to time, party to lawsuits arising out of operations. Although there can be no assurance, based upon information known to the Company, the Company believes that any liability resulting from an adverse determination of such lawsuits would not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. During the Company's due diligence for the Network1 acquisition, several pre-acquisition contingencies were identified regarding various Brazilian federal and state tax exposures. The Company recorded indemnification receivables that are reported gross of the pre-acquisition contingency liabilities as the funds were escrowed as part of the acquisition. The amount available after the impact of foreign currency translation for future pre-acquisition contingency settlements or to be released to the sellers was $3.4 million at September 30, 2023 and June 30, 2023. The table below summarizes the balances and line item presentation of Network1's pre-acquisition contingencies and corresponding indemnification receivables in the Company's Condensed Consolidated Balance Sheets at September 30, 2023 and June 30, 2023: September 30, 2023 June 30, 2023 Network1 (in thousands) Assets Prepaid expenses and other current assets $ 16 $ 16 Other non-current assets $ 3,994 $ 4,150 Liabilities Accrued expenses and other current liabilities $ 16 $ 16 Other long-term liabilities $ 3,994 $ 4,150

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome taxes for the quarters ended September 30, 2023 and 2022 have been included in the accompanying condensed consolidated financial statements using an estimated annual effective tax rate. In addition to applying the estimated annual effective tax rate to pre-tax income, the Company includes certain items treated as discrete events to arrive at an estimated overall tax provision. During the quarter ended September 30, 2023, a discrete net tax benefit of $1.5 million was recorded for additional foreign tax credits permitted for the 2023 fiscal year as a result of the issuance of IRS Notice 2023-55. During the quarter ended September 30, 2022, a discrete net tax benefit of $0.5 million was recorded, which is primarily attributable to a notional interest deduction on the net equity of the Company's Brazilian subsidiary. The Company’s effective tax rate of 19.4% for the quarter ended September 30, 2023, differs from the current federal statutory rate of 21% primarily as a result of income derived from tax jurisdictions with varying income tax rates, nondeductible expenses, state income taxes, and discrete items. The Company's effective tax rate was 25.5% for the quarter ended September 30, 2022. As of September 30, 2023, the Company is not permanently reinvested with respect to all earnings generated by foreign operations. The Company has determined that there is no material deferred tax liability for federal, state and withholding tax related to undistributed earnings. During the quarter ended September 30, 2023, foreign subsidiaries did not repatriate cash to the United States. There is no certainty to the timing of any future distributions of such earnings to the U.S. in whole or in part. The Company had approximately $1.2 million of total gross unrecognized tax benefits at September 30, 2023 and June 30, 2023. Of this total at September 30, 2023, approximately $1 million represents the amount of unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate. The Company does not believe that the total amount of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date. The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. At September 30, 2023 and June 30, 2023, the Company had approximately $1.2 million accrued for interest and penalties. The Company conducts business globally and one or more of its subsidiaries files income tax returns in the U.S. federal, various state, local and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities in countries and states in which it operates. With certain exceptions, the Company is no longer subject to federal, state and local or non-U.S. income tax examinations by tax authorities for the years before June 30, 2018.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 15,432	$ 24,042

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 2, 2023, Michael Baur, our Chief Executive Officer and Chair of the Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) and that provides for the sale of up to 427,001 shares of our common stock under Rule 144. The duration of such trading arrangement will be until November 20, 2024 (or earlier if all transactions under the trading arrangement had been completed or certain other events occurred).
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Michael Baur [Member]
Trading Arrangements, by Individual
Name	Michael Baur
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 2, 2023
Arrangement Duration	444 days
Aggregate Available	427,001

Business and Summary of Signi_2

Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared by the Company’s management in accordance with United States generally accepted accounting principles ("U.S. GAAP") for interim financial information and applicable rules and regulations of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. The unaudited condensed consolidated financial statements included herein contain all adjustments (consisting of normal recurring and non-recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position at September 30, 2023 and June 30, 2023, the results of operations for the quarters ended September 30, 2023 and 2022, the condensed consolidated statements of comprehensive income for the quarters ended September 30, 2023 and 2022, the condensed consolidated statements of shareholders' equity for the quarters ended September 30, 2023 and 2022 and the condensed consolidated statements of cash flows for the quarters ended September 30, 2023 and 2022. The results of operations for the quarter ended September 30, 2023 are not necessarily indicative of the results to be expected for a full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023. Unless otherwise indicated, disclosures provided in the Notes pertain to continuing operations only.
Summary of Significant Accounting Policies	There have been no material changes to the Company’s significant accounting policies for the quarter ended September 30, 2023 from the policies described in the notes to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended June 30, 2023. For a discussion of the Company’s significant accounting policies, please see the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023.
Cash and Cash Equivalents	The Company considers all highly-liquid investments with original maturities of three months or less, when purchased, to be cash equivalents. The Company maintains zero-balance disbursement accounts at various financial institutions at which the Company does not maintain significant depository relationships. Due to the terms of the agreements governing these accounts, the Company generally does not have the right to offset outstanding checks written from these accounts against cash on hand, and the respective institutions are not legally obligated to honor the checks until sufficient funds are transferred to fund the checks.
Long-lived Assets	The Company presents depreciation expense and intangible amortization expense on the condensed consolidated income statements. The Company's depreciation expense related to selling, general and administrative costs totaled $2.8 million for the quarters ended September 30, 2023 and 2022. Depreciation expense reported as part of cost of goods sold on the condensed consolidated income statements totaled $0.2 million for the quarters ended September 30, 2023 and 2022. The Company's intangible amortization expense reported on the condensed consolidated income statements relates to selling, general and administrative costs, not the cost of selling goods.
Recent Accounting Pronouncements	In July 2023, the Securities and Exchange Commission issued final rules that require new and enhanced disclosures on cybersecurity risk management, strategy, governance, and incident reporting. Under the final rules, companies must report material cybersecurity incidents within four business days of determining the incident is material on Form 8-K. As additional information about the material aspects of the previously reported incidents become available, a Form 8-K/A must be filed with the additional disclosures. These disclosure requirements on Form 8-K are effective beginning December 18, 2023. For fiscal years ending on or after December 15, 2023, companies must disclose their cybersecurity processes, management's role in cybersecurity governance, and cybersecurity oversight by the Board of Directors on Form 10-K. The Company has reviewed newly issued accounting pronouncements and concluded that they are either not applicable to its business or that no material effect is expected on its consolidated financial statements as a result of future adoption.
Trade Accounts and Notes Receivable, Net	The Company maintains an allowance for doubtful accounts receivable for estimated future expected credit losses resulting from customers’ failure to make payments on accounts receivable due to the Company. The Company has notes receivable with certain customers, which are included in “Accounts receivable, less allowance” in the Condensed Consolidated Balance Sheets. Management determines the estimate of the allowance for doubtful accounts receivable by considering a number of factors, including: (i) historical experience, (ii) aging of the accounts receivable, (iii) specific information obtained by the Company on the financial condition and the current creditworthiness of its customers, (iv) the current economic and country-specific environment and (v) reasonable and supportable forecasts about collectability. Expected credit losses are estimated on a pool basis when similar risk characteristics exist using an age-based reserve model. Receivables that do not share risk characteristics are evaluated on an individual basis. Estimates of expected credit losses on trade receivables over the contractual life are recorded at inception and adjusted over the contractual life.
Revenue Recognition	The Company provides technology solutions and services from the world's leading suppliers of mobility, barcode, POS, payments, physical security, unified communications, collaboration, telecom and cloud services. This includes hardware, related accessories and device configuration as well as software licenses, professional services and hardware support programs. In determining the appropriate amount of revenue to recognize, the Company applies the following five-step model: (i) identify contracts with customers; (ii) identify performance obligations in the contracts; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations per the contracts; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company recognizes revenue as control of products and services are transferred to customers, which is generally at the point of shipment. The Company delivers products to customers in several ways, including: (i) shipment from a Company warehouse, (ii) drop-shipment directly from the supplier, or (iii) electronic delivery for non-physical products. Principal versus Agent Considerations The Company is the principal for sales of all hardware and certain software and services. The Company considers itself the principal in those transactions where it has control of the product or service before it is transferred to the customer. The Company recognizes the principal-associated revenue and cost of goods sold on a gross basis. The Company is the agent for third-party service contracts, including product warranties and supplier-hosted software. These service contracts are sold separately from the products, and the Company often serves as the agent for the contract on behalf of the original equipment manufacturer. The Company's responsibility is to arrange for the provision of the specified service by the original equipment manufacturer, and the Company does not control the specified service before it is transferred to the customer. Because the Company acts as an agent, revenue is recognized net of cost at the time of sale. The Intelisys business operates under an agency model. Variable Considerations For certain transactions, products are sold with a right of return and may also provide other rebates or incentives, which are accounted for as variable consideration. The Company estimates a returns allowance based on historical experience and reduces revenue accordingly. The Company estimates the amount of variable consideration for rebates and incentives by using the expected value to be given to the customer and reduces the revenue by those estimated amounts. These estimates are reviewed and updated as necessary at the end of each reporting period. Contract Balances The Company records contract assets and liabilities for payments received from customers in advance of services performed. These assets and liabilities are the result of the sales of the Company's self-branded warranty programs and other transactions where control has not yet passed to the customer. These amounts are immaterial to the consolidated financial statements for the periods presented. Disaggregation of Revenue

Trade Accounts and Notes Rece_2

Trade Accounts and Notes Receivable, Net (Tables)	3 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Schedule of Changes in the Allowance for Doubtful Accounts	The changes in the allowance for doubtful accounts for the three months ended September 30, 2023 are set forth in the table below. June 30, 2023 Amounts Charged to Expense Write-offs Other (1) September 30, 2023 (in thousands) Trade accounts and current notes receivable allowance $ 15,480 $ 4,157 $ (594) $ 527 $ 19,570

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables represent the Company's disaggregation of revenue: Quarter ended September 30, 2023 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service Hardware, software and cloud (excluding Intelisys) $ 509,570 $ 346,232 $ 855,802 Intelisys connectivity and cloud — 20,503 20,503 $ 509,570 $ 366,735 $ 876,305 Quarter ended September 30, 2022 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service Hardware, software and cloud (excluding Intelisys) $ 576,329 $ 348,631 $ 924,960 Intelisys connectivity and cloud — 18,853 18,853 $ 576,329 $ 367,484 $ 943,813

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Quarter ended September 30, 2023 2022 (in thousands, except per share data) Numerator: Net income $ 15,432 $ 24,042 Denominator: Weighted-average shares, basic 24,886 25,201 Dilutive effect of share-based payments 292 250 Weighted-average shares, diluted 25,178 25,451 Net income per common share, basic $ 0.62 $ 0.95 Net income per common share, diluted $ 0.61 $ 0.94

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income, Net Of Tax	The components of accumulated other comprehensive loss, net of tax are as follows: September 30, 2023 June 30, 2023 (in thousands) Foreign currency translation adjustment $ (100,026) $ (93,136) Unrealized gain on hedged transaction, net of tax 3,668 3,515 Accumulated other comprehensive loss $ (96,358) $ (89,621)
Schedule of Other Comprehensive Loss, Tax	The tax effect of amounts in comprehensive loss reflect a tax (benefit) expense as follows: Quarter ended September 30, 2023 2022 (in thousands) Tax (benefit) expense $ (54) $ 414

Goodwill and Other Identifiab_2

Goodwill and Other Identifiable Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the quarter ended September 30, 2023, by reporting segment, are set forth in the table below. Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Balance at June 30, 2023 $ 16,370 $ 200,336 $ 216,706 Foreign currency translation adjustment — (1,554) (1,554) Balance at September 30, 2023 $ 16,370 $ 198,782 $ 215,152
Schedule of Net Identifiable Intangible Assets	The following table shows changes in the amount recognized for net identifiable intangible assets for the three months ended September 30, 2023. Net Identifiable Intangible Assets (in thousands) Balance at June 30, 2023 $ 68,495 Amortization expense (4,193) Foreign currency translation adjustment (627) Balance at September 30, 2023 $ 63,675

Short-Term Borrowings and Lon_2

Short-Term Borrowings and Long-Term Debt (Tables)	3 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt at September 30, 2023 and June 30, 2023. September 30, 2023 June 30, 2023 (in thousands) Current portion of long-term debt $ 8,209 $ 6,915 Mississippi revenue bond, net of current portion 3,024 3,381 Senior secured term loan facility, net of current portion 138,750 140,625 Borrowings under revolving credit facility 98,125 178,980 Total debt $ 248,108 $ 329,901

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Sep. 30, 2023
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Schedule of Derivative Contracts and Changes in Underlying Value of the Foreign Currency Exposures	Summarized financial information related to these derivative contracts and changes in the underlying value of the foreign currency exposures included in the Condensed Consolidated Income Statements for the quarter ended September 30, 2023 and 2022 are as follows: Quarter ended September 30, 2023 2022 (in thousands) Net foreign exchange derivative contract (gains) losses $ (368) $ 438 Net foreign currency transactional and re-measurement losses 1,064 484 Net foreign currency exchange losses $ 696 $ 922
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive Income for the quarter ended September 30, 2023 and 2022, are as follows: Quarter ended September 30, 2023 2022 (in thousands) Net interest (income) expense recognized as a result of interest rate swap $ (759) $ 32 Unrealized gain in fair value of interest rate swap 974 2,500 Net increase in accumulated other comprehensive income 215 2,532 Income tax effect 62 653 Net increase in accumulated other comprehensive income, net of tax $ 153 $ 1,879
Schedule of Derivative Instruments	The Company used the following derivative instruments at September 30, 2023 and June 30, 2023, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above: September 30, 2023 June 30, 2023 Balance Sheet Location Fair Value of Fair Value of Fair Value of Fair Value of (in thousands) Derivative assets: Foreign exchange contracts Prepaid expenses and other current assets — $27 — $1 Foreign currency hedge Prepaid expenses and other current assets — — $100 — Interest rate swap agreement Other non-current assets $4,902 — $4,687 — Derivative liabilities: Foreign currency hedge Accrued expenses and other current liabilities $108 — — —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at September 30, 2023: Total Quoted Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 28,773 $ 28,773 $ — Forward foreign currency exchange contracts 27 — 27 Interest rate swap agreement 4,902 — 4,902 Total assets at fair value $ 33,702 $ 28,773 $ 4,929 Liabilities: Deferred compensation plan investments, current and non-current portion $ 28,773 $ 28,773 $ — Foreign currency hedge 108 — 108 Total liabilities at fair value $ 28,881 $ 28,773 $ 108 The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at June 30, 2023: Total Quoted Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 28,209 $ 28,209 $ — Forward foreign currency exchange contracts 1 — 1 Foreign currency hedge 100 — 100 Interest rate swap agreement 4,687 — 4,687 Total assets at fair value $ 32,997 $ 28,209 $ 4,788 Liabilities: Deferred compensation plan investments, current and non-current portion $ 28,229 $ 28,229 $ — Total liabilities at fair value $ 28,229 $ 28,229 $ —

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of Financial Information by Segment	Selected financial information for each business segment is presented below: Quarter ended September 30, 2023 2022 (in thousands) Sales: Specialty Technology Solutions $ 509,570 $ 576,329 Modern Communications & Cloud 366,735 367,484 $ 876,305 $ 943,813 Depreciation and amortization: Specialty Technology Solutions $ 2,756 $ 2,702 Modern Communications & Cloud 3,741 3,649 Corporate 720 877 $ 7,217 $ 7,228 Operating income (loss): Specialty Technology Solutions $ 11,872 $ 21,852 Modern Communications & Cloud 12,413 13,036 Corporate (201) — $ 24,084 $ 34,888 Capital expenditures: Specialty Technology Solutions $ (1,261) $ (195) Modern Communications & Cloud (1,054) (489) $ (2,315) $ (684) Sales by Geography Category: United States and Canada $ 792,464 $ 861,602 International 85,305 84,275 Less intercompany sales (1,464) (2,064) $ 876,305 $ 943,813
Schedule of Reconciliation of Assets from Segment to Consolidated	September 30, 2023 June 30, 2023 (in thousands) Assets: Specialty Technology Solutions $ 1,016,749 $ 1,104,103 Modern Communications & Cloud 881,786 964,066 Corporate — — $ 1,898,535 $ 2,068,169 Property and equipment, net by Geography Category: United States and Canada $ 26,023 $ 27,323 International 10,722 10,056 $ 36,745 $ 37,379

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Assets and Liabilities, Lessee	The following table presents amounts recorded on the Condensed Consolidated Balance Sheets related to operating leases at September 30, 2023 and June 30, 2023: September 30, 2023 June 30, 2023 Operating leases Balance Sheet location (in thousands) Operating lease right-of-use assets Other non-current assets $ 11,775 $ 12,539 Current operating lease liabilities Accrued expenses and other current liabilities $ 4,270 $ 4,355 Long-term operating lease liabilities Other long-term liabilities $ 8,569 $ 9,329
Schedule of Lease, Cost	The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarter ended September 30, 2023 and 2022. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less. Quarter ended September 30, 2023 2022 (in thousands) Operating lease cost $ 1,209 $ 1,286 Variable lease cost 383 344 $ 1,592 $ 1,630 Supplemental cash flow information related to the Company's operating leases for the three months ended September 30, 2023 and 2022 are presented in the table below: Quarter ended September 30, 2023 2022 (in thousands) Cash paid for amounts in the measurement of lease liabilities $ 1,412 $ 1,339 Right-of-use assets obtained in exchange for lease obligations 230 111 The weighted-average remaining lease term and discount rate at September 30, 2023 are presented in the table below: September 30, 2023 Weighted-average remaining lease term 3.41 years Weighted-average discount rate 4.58 %
Schedule of Lessee, Operating Lease, Liability, Maturity	The following table presents the maturities of the Company's operating lease liabilities at September 30, 2023: Operating leases (in thousands) 2024 $ 3,769 2025 3,677 2026 3,096 2027 2,678 2028 632 Thereafter — Total future payments 13,852 Less: amounts representing interest 1,013 Present value of lease payments $ 12,839

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Pre-acquisition Contingencies and Corresponding Indemnification Receivables	The table below summarizes the balances and line item presentation of Network1's pre-acquisition contingencies and corresponding indemnification receivables in the Company's Condensed Consolidated Balance Sheets at September 30, 2023 and June 30, 2023: September 30, 2023 June 30, 2023 Network1 (in thousands) Assets Prepaid expenses and other current assets $ 16 $ 16 Other non-current assets $ 3,994 $ 4,150 Liabilities Accrued expenses and other current liabilities $ 16 $ 16 Other long-term liabilities $ 3,994 $ 4,150

Business and Summary of Signi_3

Business and Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)
Cash and Cash Equivalents [Line Items]
Number of operating segments | segment	2
Depreciation expense related to selling, general and administrative costs	$ 2,795	$ 2,763
Amortization of intangible assets	4,193	4,241
Product
Cash and Cash Equivalents [Line Items]
Depreciation expense reported as part of cost of goods sold	200	$ 200
Bank Overdrafts
Cash and Cash Equivalents [Line Items]
Outstanding checks	$ 10,300		$ 8,000

Trade Accounts and Notes Rece_3

Trade Accounts and Notes Receivable, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 15,480
Amounts Charged to Expense	4,157	$ 125
Write-offs	(594)
Other	527
Ending Balance	$ 19,570

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 876,305	$ 943,813
Hardware, software and cloud (excluding Intelisys)
Disaggregation of Revenue [Line Items]
Revenues	855,802	924,960
Intelisys connectivity and cloud
Disaggregation of Revenue [Line Items]
Revenues	20,503	18,853
Specialty Technology Solutions
Disaggregation of Revenue [Line Items]
Revenues	509,570	576,329
Specialty Technology Solutions | Hardware, software and cloud (excluding Intelisys)
Disaggregation of Revenue [Line Items]
Revenues	509,570	576,329
Specialty Technology Solutions | Intelisys connectivity and cloud
Disaggregation of Revenue [Line Items]
Revenues	0	0
Modern Communications & Cloud
Disaggregation of Revenue [Line Items]
Revenues	366,735	367,484
Modern Communications & Cloud | Hardware, software and cloud (excluding Intelisys)
Disaggregation of Revenue [Line Items]
Revenues	346,232	348,631
Modern Communications & Cloud | Intelisys connectivity and cloud
Disaggregation of Revenue [Line Items]
Revenues	$ 20,503	$ 18,853

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income	$ 15,432	$ 24,042
Denominator:
Weighted-average shares, basic (in shares)	24,886,000	25,201,000
Dilutive effect of share-based payments (in shares)	292,000	250,000
Weighted-average shares, diluted (in shares)	25,178,000	25,451,000
Net income per common share, basic (in dollars per share)	$ 0.62	$ 0.95
Net income per common share, diluted (in dollars per share)	$ 0.61	$ 0.94
Weighted average shares excluded from the computation of diluted earnings per share (in shares)	854,893	1,128,445

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	$ 915,253	$ 827,004	$ 905,298	$ 806,528
Tax (benefit) expense	(54)	414
Foreign currency translation adjustment
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	(100,026)		(93,136)
Unrealized gain on hedged transaction, net of tax
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	3,668		3,515
Accumulated other comprehensive loss
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	$ (96,358)	$ (109,976)	$ (89,621)	$ (104,638)

Goodwill and Other Identifiab_3

Goodwill and Other Identifiable Intangible Assets (Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at June 30, 2023	$ 216,706
Foreign currency translation adjustment	(1,554)
Balance at September 30, 2023	215,152
Specialty Technology Solutions
Goodwill [Roll Forward]
Balance at June 30, 2023	16,370
Foreign currency translation adjustment	0
Balance at September 30, 2023	16,370
Modern Communications & Cloud
Goodwill [Roll Forward]
Balance at June 30, 2023	200,336
Foreign currency translation adjustment	(1,554)
Balance at September 30, 2023	$ 198,782

Goodwill and Other Identifiab_4

Goodwill and Other Identifiable Intangible Assets (Net Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Finite-lived Intangible Assets [Roll Forward]
Balance at June 30, 2023	$ 68,495
Amortization expense	(4,193)	$ (4,241)
Foreign currency translation adjustment	(627)
Balance at September 30, 2023	$ 63,675

Short-Term Borrowings and Lon_3

Short-Term Borrowings and Long-Term Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Current portion of long-term debt	$ 8,209	$ 6,915
Long-term debt	141,774	144,006
Borrowings under revolving credit facility	98,125	178,980
Total debt	248,108	329,901
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	138,750	140,625
Multi-Currency Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings under revolving credit facility	98,125	178,980
Mississippi Revenue Bond
Debt Instrument [Line Items]
Long-term debt	$ 3,024	$ 3,381

Short-Term Borrowings and Lon_4

Short-Term Borrowings and Long-Term Debt (Narrative) (Details) - USD ($)			3 Months Ended
	Apr. 01, 2023	Sep. 28, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Debt Instrument [Line Items]
Debt issuance costs, net			$ 1,500,000
Mississippi Revenue Bond
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument	0.85%
Maximum time period of interest (in years)			10 years
Long-term debt, percentage bearing variable interest			6.28%		6.11%
Put option, exercisable period limitation (in days)			180 days
Percentage of principal due on exercise of put option			100%
SOFR | Mississippi Revenue Bond
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument	0.10%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, expiration period		5 years
Borrowing capacity under credit facility		$ 350,000,000
Line of credit facility, accordion feature, higher borrowing capacity option		250,000,000
Letters of credit outstanding			$ 0		$ 0
Debt issuance costs, gross		$ 1,400,000
Amount of unrestricted domestic cash			$ 30,000,000
Percentage of spread in effect Interest rate			1.50%
Line of credit facility, unused capacity, commitment fee percentage			0.25%
Average daily balance on revolving credit facility			$ 200,900,000	$ 200,500,000
Line of credit facility, remaining borrowing capacity			$ 251,900,000		$ 171,000,000
Effective interest rate			6.92%		6.74%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Minimum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			1%
Line of credit facility, interest coverage ratio			3
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Maximum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			1.75%
Line of credit facility, leverage ratio			3.50
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | SOFR
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			0.10%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | SOFR | Minimum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			1%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | SOFR | Maximum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			1.75%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Alternate Base Rate Loans
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			0.50%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Alternate Base Rate Loans | Minimum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			0%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Alternate Base Rate Loans | Maximum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument			0.75%
Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, expiration period		5 years
Borrowing capacity under credit facility		$ 150,000,000
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding		$ 50,000,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 28, 2022
Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	$ 34,400,000	$ 34,300,000
Interest rate swap agreement
Derivative [Line Items]
Derivative, notional amount				$ 100,000,000
Interest Rate Swap, Maturing April 30, 2024
Derivative [Line Items]
Derivative, notional amount				50,000,000
Interest Rate Swap, Maturing April 30, 2026
Derivative [Line Items]
Derivative, notional amount				$ 50,000,000
Interest Rate Swap, Maturing March 31, 2028
Derivative [Line Items]
Derivative, notional amount			$ 25,000,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Derivative Contracts and Changes in Underlying Value of the Foreign Currency Exposures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Net foreign exchange derivative contract (gains) losses	$ (368)	$ 438
Net foreign currency transactional and re-measurement losses	1,064	484
Net foreign currency exchange losses	$ 696	$ 922

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Schedule of Cash Flow Hedge Included in Accumulated Other Comprehensive Income (Loss), Net of Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Net increase in accumulated other comprehensive income, net of tax	$ 153	$ 1,879
Interest rate swap agreement
Derivative Instruments, Gain (Loss) [Line Items]
Net interest (income) expense recognized as a result of interest rate swap	(759)	32
Unrealized gain in fair value of interest rate swap	974	2,500
Net increase in accumulated other comprehensive income	215	2,532
Income tax effect	62	653
Net increase in accumulated other comprehensive income, net of tax	$ 153	$ 1,879

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Foreign exchange contracts | Prepaid expenses and other current assets | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	$ 0	$ 0
Foreign exchange contracts | Prepaid expenses and other current assets | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	27	1
Foreign currency hedge | Prepaid expenses and other current assets | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	0	100
Foreign currency hedge | Prepaid expenses and other current assets | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Foreign currency hedge | Accrued expenses and other current liabilities | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	108	0
Foreign currency hedge | Accrued expenses and other current liabilities | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	0
Interest rate swap agreement | Other non-current assets | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	4,902	4,687
Interest rate swap agreement | Other non-current assets | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	$ 0	$ 0

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Schedule of Remaining Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Foreign exchange contracts
Assets:
Interest rate swap agreement		$ 1
Quoted prices in active markets (Level 1) | Foreign exchange contracts
Assets:
Interest rate swap agreement		0
Significant other observable inputs (Level 2) | Foreign exchange contracts
Assets:
Interest rate swap agreement		1
Fair Value, Recurring
Assets:
Deferred compensation plan investments, current and non-current portion	$ 28,773	28,209
Total assets at fair value	33,702	32,997
Liabilities:
Deferred compensation plan investments, current and non-current portion	28,773	28,229
Total liabilities at fair value	28,881	28,229
Fair Value, Recurring | Foreign exchange contracts
Assets:
Interest rate swap agreement	27
Fair Value, Recurring | Interest rate swap agreement
Assets:
Interest rate swap agreement	4,902	4,687
Fair Value, Recurring | Foreign currency hedge
Assets:
Interest rate swap agreement		100
Liabilities:
Foreign currency hedge	108
Fair Value, Recurring | Quoted prices in active markets (Level 1)
Assets:
Deferred compensation plan investments, current and non-current portion	28,773	28,209
Total assets at fair value	28,773	28,209
Liabilities:
Deferred compensation plan investments, current and non-current portion	28,773	28,229
Total liabilities at fair value	28,773	28,229
Fair Value, Recurring | Quoted prices in active markets (Level 1) | Foreign exchange contracts
Assets:
Interest rate swap agreement	0
Fair Value, Recurring | Quoted prices in active markets (Level 1) | Interest rate swap agreement
Assets:
Interest rate swap agreement	0	0
Fair Value, Recurring | Quoted prices in active markets (Level 1) | Foreign currency hedge
Assets:
Interest rate swap agreement		0
Liabilities:
Foreign currency hedge	0
Fair Value, Recurring | Significant other observable inputs (Level 2)
Assets:
Deferred compensation plan investments, current and non-current portion	0	0
Total assets at fair value	4,929	4,788
Liabilities:
Deferred compensation plan investments, current and non-current portion	0	0
Total liabilities at fair value	108	0
Fair Value, Recurring | Significant other observable inputs (Level 2) | Foreign exchange contracts
Assets:
Interest rate swap agreement	27
Fair Value, Recurring | Significant other observable inputs (Level 2) | Interest rate swap agreement
Assets:
Interest rate swap agreement	4,902	4,687
Fair Value, Recurring | Significant other observable inputs (Level 2) | Foreign currency hedge
Assets:
Interest rate swap agreement		$ 100
Liabilities:
Foreign currency hedge	$ 108

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Sep. 30, 2023 segment
Segment Reporting, Measurement Disclosures [Abstract]
Number of reportable segments	2

Segment Information (Financial

Segment Information (Financial Information by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Sales	$ 876,305	$ 943,813
Depreciation and amortization	7,217	7,228
Operating income (loss)	24,084	34,888
Capital expenditures	(2,315)	(684)
Specialty Technology Solutions
Segment Reporting Information [Line Items]
Sales	509,570	576,329
Modern Communications & Cloud
Segment Reporting Information [Line Items]
Sales	366,735	367,484
Operating Segments | Specialty Technology Solutions
Segment Reporting Information [Line Items]
Sales	509,570	576,329
Depreciation and amortization	2,756	2,702
Operating income (loss)	11,872	21,852
Capital expenditures	(1,261)	(195)
Operating Segments | Modern Communications & Cloud
Segment Reporting Information [Line Items]
Sales	366,735	367,484
Depreciation and amortization	3,741	3,649
Operating income (loss)	12,413	13,036
Capital expenditures	(1,054)	(489)
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	720	877
Operating income (loss)	(201)	0
Reportable Geographical Components | United States and Canada
Segment Reporting Information [Line Items]
Sales	792,464	861,602
Reportable Geographical Components | International
Segment Reporting Information [Line Items]
Sales	85,305	84,275
Geography Eliminations
Segment Reporting Information [Line Items]
Sales	$ (1,464)	$ (2,064)

Segment Information (Assets By

Segment Information (Assets By Segment) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Segment Reporting Information [Line Items]
Assets	$ 1,898,535	$ 2,068,169
Property and equipment, net by Geography Category	36,745	37,379
United States and Canada
Segment Reporting Information [Line Items]
Property and equipment, net by Geography Category	26,023	27,323
International
Segment Reporting Information [Line Items]
Property and equipment, net by Geography Category	10,722	10,056
Continuing Operations | Corporate
Segment Reporting Information [Line Items]
Assets	0	0
Continuing Operations | Specialty Technology Solutions | Operating Segments
Segment Reporting Information [Line Items]
Assets	1,016,749	1,104,103
Continuing Operations | Modern Communications & Cloud | Operating Segments
Segment Reporting Information [Line Items]
Assets	$ 881,786	$ 964,066

Leases (Narrative) (Details)

Leases (Narrative) (Details)	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	10 years

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 11,775	$ 12,539
Current operating lease liabilities	4,270	4,355
Long-term operating lease liabilities	$ 8,569	$ 9,329
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities

Leases (Schedule of Lease Cost)

Leases (Schedule of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 1,209	$ 1,286
Variable lease cost	383	344
Total cost	$ 1,592	$ 1,630

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts in the measurement of lease liabilities	$ 1,412	$ 1,339
Right-of-use assets obtained in exchange for lease obligations	$ 230	$ 111

Leases (Weighted Average Remain

Leases (Weighted Average Remaining Term and Discount Rate) (Details)	Sep. 30, 2023
Leases [Abstract]
Weighted-average remaining lease term (in years)	3 years 4 months 28 days
Weighted-average discount rate	4.58%

Leases (Maturities of Operating

Leases (Maturities of Operating Lease Liabilities) (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2024	$ 3,769
2025	3,677
2026	3,096
2027	2,678
2028	632
Thereafter	0
Total future payments	13,852
Less: amounts representing interest	1,013
Present value of lease payments	$ 12,839

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023
Network1
Other Commitments [Line Items]
Cash held in escrow	$ 3.4	$ 3.4

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Pre-acquisition Contingencies and Corresponding Indemnification Receivables) (Details) - Network1 - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Assets
Prepaid expenses and other current assets	$ 16	$ 16
Other non-current assets	3,994	4,150
Liabilities
Accrued expenses and other current liabilities	16	16
Other long-term liabilities	$ 3,994	$ 4,150

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Discrete net tax benefit	$ 1.5	$ 0.5
Effective income tax rate	19.40%	25.50%
Unrecognized tax benefits that would impact effective tax rate if recognized	$ 1.2		$ 1.2
Income tax penalties and interest accrued	$ 1.2		$ 1.2