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Transition period (Tables) | 12 Months Ended
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Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Financial Statements | The Company is presenting its consolidated financial statements for the three-month transition period ended March 31, 2019. The following tables provide certain unaudited comparative financial information for the same period of the prior year. Consolidated Statements of Income (in thousands, except share and per share data)
| Three months ended March 31, |  |
|  |  | (unaudited) |  |  |  |
| 2019 |  | 2018 |  |  |  |
Net sales | $ | 66,141 |  |  | $ | 65,920 |  |  |  |  |
Cost of sales | 25,650 |  |  | 25,712 |  |  |  |  |
Gross profit | 40,491 |  |  | 40,208 |  |  |  |  |
Selling, general and administrative expenses | 37,324 |  |  | 36,234 |  |  |  |  |
Restructuring expenses | 22,176 |  |  | — |  |  |  |  |
Operating income (loss) | (19,009) |  |  | 3,974 |  |  |  |  |
Other expense, net | (315) |  |  | (888) |  |  |  |  |
Interest expense, net | (1,849) |  |  | (1,963) |  |  |  |  |
Income (loss) before provision for income taxes | (21,173) |  |  | 1,123 |  |  |  |  |
Income tax benefit (provision) | 3,259 |  |  | (433) |  |  |  |  |
Net income (loss) | $ | (17,914) |  |  | $ | 690 |  |  |  |  |
Comprehensive income (loss) | $ | (17,914) |  |  | $ | 690 |  |  |  |  |
Net income (loss) per share: |  |  |  |  |  |  |
Basic | $ | (0.37) |  |  | $ | 0.01 |  |  |  |  |
Diluted | $ | (0.37) |  |  | $ | 0.01 |  |  |  |  |
Weighted average shares outstanding: |  |  |  |  |  |  |
Basic | 48,022,926 |  |  | 46,435,560 |  |  |  |  |
Diluted | 48,022,926 |  |  | 49,302,771 |  |  |  |  |
Consolidated Statements of Cash Flows (in thousands)
| Three months ended March 31,
| 2019 |  | 2018
Cash flows from operating activities: |  |  | (unaudited)
Net income (loss) | $ | (17,914) |  |  | $ | 690 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |
Depreciation and amortization | 7,544 |  |  | 4,288 |
Restructuring loss | 22,176 |  |  | — |
Stock-based compensation expense | 3,683 |  |  | 3,640 |
Amortization of debt issuance costs and discount on debt | 190 |  |  | 199 |
Deferred income taxes | (3,433) |  |  | 735 |
Other, net | 242 |  |  | 142 |
Changes in operating assets and liabilities: |  |  |
Accounts receivable | 4,215 |  |  | 12,771 |
Inventories | 2,561 |  |  | 951 |
Prepaid expenses and other assets | (1,732) |  |  | (1,498) |
Accounts payable and accrued expenses | (6,021) |  |  | (16,891) |
Other liabilities | (3,295) |  |  | 3 |
Net cash provided by operating activities | 8,216 |  |  | 5,030 |
Cash flows from investing activities: |  |  |
Purchase of property and equipment | (3,400) |  |  | (2,667) |
Net cash used in investing activities | (3,400) |  |  | (2,667) |
Cash flows from financing activities: |  |  |
Proceeds from revolving line of credit | — |  |  | 2,000 |
Repayment of revolving line of credit | — |  |  | (2,000) |
Repayment of long-term debt | (2,063) |  |  | (2,063) |
Cash received from issuance of common stock | 115 |  |  | 212 |
Other, net | (199) |  |  | (97) |
Net cash used in financing activities | (2,147) |  |  | (1,948) |
Net increase in cash and cash equivalents | 2,669 |  |  | 415 |
Cash and cash equivalents - beginning of period | 51,205 |  |  | 10,059 |
Cash and cash equivalents - end of period | $ | 53,874 |  |  | $ | 10,474 |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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