10 unchanged sentences
PURCHASES OF OUR COMMON STOCK
−Removed: The following table provides information regarding our purchases of e Plus inc.
−Removed: common stock during the fiscal year ended March 31, 2020.
+Added: The following table provides information regarding our total purchases of 96,741 shares of e Plus inc.
+Added: common stock during the fiscal year ended March 31, 2021, including a total of 59,101 shares purchased as part of the publicly announced share repurchase plans or programs.
Total number of
47 unchanged sentences
SELECTED FINANCIAL DATA
−Removed: The following selected financial data should be read in conjunction with “Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations” and with the consolidated financial statements and related notes, which are included elsewhere in this Form 10-K.
−Removed: The selected consolidated statement of operations data for the years ended March 31, 2020, 2019 and 2018 and the selected consolidated balance sheet data as of March 31, 2020, and 2019 presented below was derived from our audited consolidated financial statements, which are included elsewhere herein.
−Removed: On March 31, 2017, we completed a two-for-one stock split in the form of a stock dividend.
−Removed: Per share amounts have been retroactively adjusted for this stock split.
−Removed: The selected financial data as of and for the years ended March 31, 2017, and 2016 have been derived from our audited consolidated financial statements, which are not included in this report.
−Removed: For the years ended March 31,
−Removed: Statement of Operations Data:
−Removed: (in thousands, except per share data)
−Removed: Cost of sales
−Removed: Operating expense
−Removed: Operating income
−Removed: Other (income) expense
−Removed: Earnings before provision for income taxes
−Removed: Provision for income taxes
−Removed: Net earnings per common share - basic
−Removed: Net earnings per common share - diluted
−Removed: For the years ended March 31,
−Removed: Balance Sheet Data:
−Removed: (in thousands)
−Removed: Cash and cash equivalents
−Removed: Accounts receivable—net
−Removed: Total financing receivables and operating leases—net
−Removed: Total non-recourse and recourse notes payable
−Removed: Total liabilities
−Removed: Total stockholders’ equity
−Removed: Weighted average common shares outstanding—basic
−Removed: Weighted average common shares outstanding—diluted
−Removed: Other Financial Data:
−Removed: Our management monitors several financial and non-financial measures and ratios on a regular basis to track the progress of our business.
−Removed: We believe that the most important of these measures and ratios include net sales, gross margin, operating income margin, net earnings, net earnings per common share, adjusted EBITDA, adjusted EBITDA margin, adjusted gross billings, and non-GAAP net earnings per share.
−Removed: We use a variety of operating and other information to evaluate the operating performance of our business, develop financial forecasts, make strategic decisions, and prepare and approve annual budgets.
−Removed: These key indicators include financial information that is prepared in accordance with US GAAP and presented in our unaudited condensed consolidated financial statements, as well as non-GAAP performance measurement tools.
−Removed: Generally, a non-GAAP financial measure is a numerical measure of a company’s performance or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with US GAAP.
−Removed: Non-GAAP measures used by management may differ from similar measures used by other companies, even when similar terms are used to identify such measures.
−Removed: Our key business metrics are as follows (dollars in thousands):
−Removed: For the years ended March 31,
−Removed: Operating income margin
−Removed: Net earnings margin
−Removed: Net earnings per common share - diluted
−Removed: Net earnings (1)
−Removed: Net earnings per
−Removed: common share - diluted (1)
−Removed: Adjusted EBITDA (2)
−Removed: Adjusted EBITDA margin
−Removed: Purchases of property and equipment used internally
−Removed: Purchases of equipment under operating leases
−Removed: Total capital expenditures
−Removed: Technology Segment
−Removed: Adjusted gross billings (3)
−Removed: Operating income
−Removed: Adjusted EBITDA (2)
−Removed: Financing Segment
−Removed: Operating Income
−Removed: Adjusted EBITDA (2)
−Removed: Non-GAAP net earnings and non-GAAP net earnings per common share – diluted is based on net earnings calculated in accordance with GAAP, adjusted to exclude other income (expense), share-based compensation, and acquisition and integration expenses, and the related tax effects, the tax (benefit) expense due to the re-measurement of deferred tax assets and liabilities at the new US tax rates, and an adjustment to our tax expense in the prior year assuming a 21% federal income tax rate for US operations.
−Removed: We use non-GAAP net earnings per common share as a supplemental measure of our performance to gain insight into our operating performance.
−Removed: We believe that the exclusion of other income and acquisition related amortization expense in calculating non-GAAP net earnings per common share provides management and investors a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance.
−Removed: Accordingly, we believe that non-GAAP net earnings per common share provide useful information to investors and others in understanding and evaluating our operating results.
−Removed: However, our use of non-GAAP information as analytical tools has limitations, and you should not consider them in isolation or as substitutes for analysis of our financial results as reported under GAAP.
−Removed: In addition, other companies, including companies in our industry, might calculate similar non-GAAP net earnings and non-GAAP net earnings per common share or similarly titled measures differently, which may reduce their usefulness as comparative measures.
−Removed: For the years ended March 31,
−Removed: Earnings before tax
−Removed: Share based compensation
−Removed: Acquisition and integration expense
−Removed: Acquisition related amortization expense
−Removed: Other (income) expense
−Removed: Earnings before provision for income taxes
−Removed: Provision for income taxes
−Removed: Share based compensation
−Removed: Acquisition and integration expense
−Removed: Acquisition related amortization expense
−Removed: Other (income) expense
−Removed: Remeasurement of deferred taxes
−Removed: Adjustment to U.S.
−Removed: Federal Income Tax rate to 21%
−Removed: Tax benefit on restricted stock
−Removed: Provision for income taxes
−Removed: For the years ended March 31,
−Removed: Net earnings per common share - diluted
−Removed: Share based compensation
−Removed: Acquisition and integration expense
−Removed: Acquisition related amortization expense
−Removed: Other (income) expense
−Removed: Remeasurement of deferred taxes
−Removed: Adjustment to U.S.
−Removed: Federal Income Tax rate to 21%
−Removed: Tax benefit on restricted stock
−Removed: Total non-GAAP adjustments - net of tax
−Removed: Net earnings per common share - diluted
−Removed: We define Adjusted EBITDA as net earnings calculated in accordance with GAAP, adjusted for the following:
−Removed: interest expense, depreciation and amortization, share-based compensation, acquisition and integration expenses, provision for income taxes, and other income.
−Removed: Segment Adjusted EBITDA is defined as operating income calculated in accordance with GAAP, adjusted for interest expense, share-based compensation, acquisition and integration expenses, and depreciation and amortization.
−Removed: We consider the interest on notes payable from our financing segment and depreciation expense presented within cost of sales, which includes depreciation on assets financed as operating leases, to be operating expenses.
−Removed: As such, they are not included in the amounts added back to net earnings in the Adjusted EBITDA calculation.
−Removed: We provide below a reconciliation of Adjusted EBITDA to net earnings, which is the most directly comparable financial measure to this non-GAAP financial measure.
−Removed: Adjusted EBITDA margin is our calculation of Adjusted EBITDA divided by net sales.
−Removed: The presentation of Adjusted EBITDA has been changed from prior period presentations to include adjustments for expenses related to acquisitions such as legal, accounting, tax, and adjustments to the fair value of contingent purchase price consideration as well as stock compensation.
−Removed: We use Adjusted EBITDA as a supplemental measure of our performance to gain insight into our operating performance.
−Removed: We believe that the exclusion of other income in calculating Adjusted EBITDA and Adjusted EBITDA margin provides management and investors a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance.
−Removed: Accordingly, we believe that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors and others in understanding and evaluating our operating results.
−Removed: However, our use of Adjusted EBITDA and Adjusted EBITDA margin as analytical tools has limitations, and you should not consider them in isolation or as substitutes for analysis of our financial results as reported under GAAP.
−Removed: In addition, other companies, including companies in our industry, might calculate Adjusted EBITDA and Adjusted EBITDA margin or similarly titled measures differently, which may reduce their usefulness as comparative measures.
−Removed: For the years ended March 31,
−Removed: Provision for income taxes
−Removed: Share based compensation
−Removed: Interest and financing costs
−Removed: Acquisition and integration expense
−Removed: Depreciation and amortization
−Removed: Other (income) expense
−Removed: Adjusted EBITDA
−Removed: Technology Segment
−Removed: Operating income
−Removed: Depreciation and amortization
−Removed: Share based compensation
−Removed: Interest and financing costs
−Removed: Acquisition and integration expense
−Removed: Adjusted EBITDA
−Removed: Financing Segment
−Removed: Operating income
−Removed: Depreciation and amortization
−Removed: Share based compensation
−Removed: Adjusted EBITDA
−Removed: We define Adjusted gross billings as our technology segment net sales calculated in accordance with US GAAP, adjusted to exclude the costs incurred related to sales of third-party maintenance, software assurance and subscription/SaaS licenses, and services.
−Removed: We have provided below a reconciliation of adjusted gross billings to technology segment net sales, which is the most directly comparable financial measure to this non-GAAP financial measure.
−Removed: The presentation of adjusted gross billings has been updated to align with net sales for our technology segment.
−Removed: We use adjusted gross billings as a supplemental measure of our performance to gain insight into the volume of business generated by our technology segment, and to analyze the changes to our accounts receivable and accounts payable.
−Removed: Our use of adjusted gross billings as an analytical tool has limitations, and you should not consider them in isolation or as substitutes for analysis of our financial results as reported under US GAAP.
−Removed: In addition, other companies, including companies in our industry, might calculate adjusted gross billings or a similarly titled measure differently, which may reduce its usefulness as a comparative measure.
−Removed: For the years ended March 31,
−Removed: Technology segment net sales
−Removed: Costs incurred related to sales of third party maintenance, software assurance and subscription/Saas licenses, and services
−Removed: Adjusted gross billings
+Added: Not Applicable
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.