| Schedule of segment reporting information, by segment |
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in thousands |
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Three Months Ended September 30, |
|
2017 |
|
2016 |
|
Revenue by segment |
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|
|
|
|
Wholesale Trading & Ancillary Services |
|
$ |
2,153,420 |
|
|
$ |
1,805,653 |
|
|
Direct Sales |
|
10,370 |
|
(1) |
N/A |
|
|
Total revenue |
|
$ |
2,163,790 |
|
|
$ |
1,805,653 |
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|
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|
_________________________________ |
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(1) Includes $6.9 million of inter-company sales from the direct sales segment to the wholesale & ancillary services segment. |
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in thousands |
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Three Months Ended September 30, |
|
2017 |
|
2016 |
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|
Revenue by geographic region
(as determined by the shipping address or where the services were preformed):
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|
|
|
|
United States |
|
$ |
2,051,921 |
|
|
$ |
1,710,079 |
|
|
Europe |
|
54,358 |
|
|
47,020 |
|
|
North America, excluding United States |
|
54,878 |
|
|
44,803 |
|
|
Asia Pacific |
|
1,352 |
|
|
2,535 |
|
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Australia |
|
1,281 |
|
|
1,216 |
|
|
Total revenue |
|
$ |
2,163,790 |
|
|
$ |
1,805,653 |
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|
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Gross Profit and Gross Margin Percentage
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in thousands |
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Three Months Ended September 30, |
|
2017 |
|
2016 |
|
Gross profit by segment |
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|
|
|
Wholesale trading & ancillary services |
|
$ |
5,645 |
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|
$ |
8,064 |
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|
Direct sales |
|
1,661 |
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|
N/A |
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|
Total gross profit |
|
$ |
7,306 |
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|
$ |
8,064 |
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|
Gross margin percentage by segment |
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|
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Wholesale trading & ancillary services |
|
0.262 |
% |
|
0.447 |
% |
|
Direct sales |
|
16.017 |
% |
|
N/A |
|
|
Weighted average gross margin percentage |
|
0.338 |
% |
|
0.447 |
% |
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|
|
|
|
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Operating Expenses and Income
|
|
|
|
|
|
|
|
|
|
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in thousands |
|
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|
Three Months Ended September 30, |
|
2017 |
|
2016 |
|
Operating income and expenses by segment |
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Wholesale trading & ancillary services |
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|
|
|
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General and administrative expenses |
|
$ |
(5,793 |
) |
|
$ |
(5,664 |
) |
|
Interest income |
|
$ |
3,161 |
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|
$ |
2,884 |
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|
Interest expense |
|
$ |
(2,654 |
) |
|
$ |
(2,241 |
) |
|
Other expense |
|
$ |
(40 |
) |
|
$ |
(45 |
) |
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Direct sales |
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|
|
|
|
General and administrative expenses |
|
$ |
(1,183 |
) |
|
N/A |
|
|
Interest expense |
|
$ |
(79 |
) |
|
N/A |
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Depreciation and Amortization
|
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|
|
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|
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in thousands |
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Three Months Ended September 30, |
|
2017 |
|
2016 |
|
Depreciation and amortization by segment |
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|
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Wholesale trading & ancillary services |
|
$ |
(391 |
) |
|
$ |
(321 |
) |
|
Direct sales |
|
(138 |
) |
|
N/A |
|
|
Total depreciation and amortization |
|
$ |
(529 |
) |
|
$ |
(321 |
) |
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Advertising expense
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in thousands |
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Three Months Ended September 30, |
|
2017 |
|
2016 |
|
Advertising expense by segment |
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Wholesale trading & ancillary services |
|
$ |
(112 |
) |
|
$ |
(167 |
) |
|
Direct sales |
|
(405 |
) |
|
N/A |
|
|
Total advertising expense |
|
$ |
(517 |
) |
|
$ |
(167 |
) |
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Inventory
|
|
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in thousands |
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September 30, 2017 |
|
June 30, 2017 |
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Inventories by segment |
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Wholesale trading & ancillary services |
|
$ |
305,782 |
|
|
$ |
284,659 |
|
|
Direct sales |
|
5,802 |
|
|
N/A |
|
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Total inventories |
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$ |
311,584 |
|
|
$ |
284,659 |
|
|
|
|
|
|
|
|
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in thousands |
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|
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|
|
|
|
September 30, 2017 |
|
June 30, 2017 |
|
Inventories by geographic region |
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United States |
|
$ |
300,863 |
|
|
$ |
276,809 |
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|
Europe |
|
2,943 |
|
|
3,154 |
|
|
North America, excluding United States |
|
7,262 |
|
|
4,310 |
|
|
Asia |
|
516 |
|
|
386 |
|
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Total inventories |
|
$ |
311,584 |
|
|
$ |
284,659 |
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Assets
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in thousands |
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September 30, 2017 |
|
June 30, 2017 |
|
Assets by segment |
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Wholesale trading & ancillary services |
|
$ |
492,205 |
|
|
$ |
478,500 |
|
|
Direct sales |
|
24,335 |
|
|
N/A |
|
|
Total assets |
|
$ |
516,540 |
|
|
$ |
478,500 |
|
|
|
|
|
|
|
|
|
|
|
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in thousands |
|
|
|
|
|
|
|
September 30, 2017 |
|
June 30, 2017 |
|
Assets by geographic region |
|
|
|
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|
United States |
|
$ |
503,246 |
|
|
$ |
469,114 |
|
|
Europe |
|
5,516 |
|
|
4,690 |
|
|
North America, excluding United States |
|
7,262 |
|
|
4,310 |
|
|
Asia |
|
516 |
|
|
386 |
|
|
Total assets |
|
$ |
516,540 |
|
|
$ |
478,500 |
|
|
|
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|
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in thousands |
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|
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|
|
September 30, 2017 |
|
June 30, 2017 |
|
Long-term assets by segment |
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|
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Wholesale trading & ancillary services |
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$ |
28,556 |
|
|
$ |
31,479 |
|
|
Direct sales |
|
8,205 |
|
|
N/A |
|
|
Total long-term assets |
|
$ |
36,761 |
|
|
$ |
31,479 |
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in thousands |
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|
September 30, 2017 |
|
June 30, 2017 |
|
Long-term assets by geographic region |
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|
|
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|
United States |
|
$ |
36,706 |
|
|
$ |
31,423 |
|
|
Europe |
|
55 |
|
|
56 |
|
|
Total long-term assets |
|
$ |
36,761 |
|
|
$ |
31,479 |
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Goodwill
|
|
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in thousands |
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September 30, 2017 |
|
June 30, 2017 |
|
Goodwill by segment |
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|
|
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|
Wholesale trading & ancillary services |
|
$ |
8,881 |
|
|
$ |
8,881 |
|
|
Direct sales |
|
1,450 |
|
|
N/A |
|
|
Total goodwill |
|
$ |
10,331 |
|
|
$ |
8,881 |
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|