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Stock Options and Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Weighted Average Assumptions | The following weighted average assumptions were used for the fiscal years ended March 31, 2018, 2017 and 2016:
|  | Fiscal 2018 |  |  | Fiscal 2017 |  |  | Fiscal 2016 |
Expected volatility |  |  | 40 | % |  |  | 41 | % |  |  | 43 | %
Risk free interest rate |  | 1.88% to 2.56% |  |  | 1.03% to 1.92% |  |  | 1.25% to 1.65% |
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Weighted average option life |  | 4.4 to 4.5 years |  |  | 4.4 to 4.5 years |  |  | 4.4 to 4.5 years |
Stock Compensation Expense for Time Based Options and Performance Based Options | The table below shows the amounts recognized in the financial statements for the fiscal years ended March 31, 2018, 2017 and 2016.
|  | Fiscal 2018 |  |  | Fiscal 2017 |  |  | Fiscal 2016 |
Cost of revenue |  | $ | 1,749,000 |  |  | $ | 1,507,000 |  |  | $ | 1,288,000 |
General and administrative |  |  | 1,415,000 |  |  |  | 925,000 |  |  |  | 904,000 |
Total cost of stock-based compensation included in income before income taxes |  |  | 3,164,000 |  |  |  | 2,432,000 |  |  |  | 2,192,000 |
Amount of income tax benefit recognized |  |  | 1,105,000 |  |  |  | 946,000 |  |  |  | 852,000 |
Amount charged to net income |  | $ | 2,059,000 |  |  | $ | 1,486,000 |  |  | $ | 1,340,000 |
Effect on basic earnings per share |  | $ | 0.11 |  |  | $ | 0.08 |  |  | $ | 0.07 |
Effect on diluted earnings per share |  | $ | 0.11 |  |  | $ | 0.08 |  |  | $ | 0.07 |
Stock Options | The following table summarizes information for all stock options for the fiscal years ended March 31, 2018, 2017 and 2016:
|  | Fiscal 2018 |  |  | Fiscal 2017 |  |  | Fiscal 2016 |
Options outstanding – beginning of the year |  |  | 1,143,928 |  |  |  | 1,115,465 |  |  |  | 1,163,179 |
Options granted |  |  | 334,200 |  |  |  | 267,950 |  |  |  | 276,275 |
Options exercised |  |  | (314,846 | ) |  |  | (115,592 | ) |  |  | (200,753 | )
Options cancelled/forfeited |  |  | (98,843 | ) |  |  | (123,895 | ) |  |  | (123,236 | )
Options outstanding – end of year |  |  | 1,064,439 |  |  |  | 1,143,928 |  |  |  | 1,115,465 |
During the year, weighted average exercise price of: |  |  |  |  |  |  |  |  |  |  |  |
Options granted |  | $ | 52.57 |  |  | $ | 37.13 |  |  | $ | 35.51 |
Options exercised |  | $ | 27.59 |  |  | $ | 22.74 |  |  | $ | 19.75 |
Options cancelled/forfeited |  | $ | 35.59 |  |  | $ | 36.90 |  |  | $ | 33.44 |
At the end of the year: |  |  |  |  |  |  |  |  |  |  |  |
Price range of outstanding options |  | $12.71-$57.75 |  |  | $12.71-$45.73 |  |  | $9.05-$45.55 |
Weighted average exercise price per share |  | $ | 39.45 |  |  | $ | 32.02 |  |  | $ | 30.36 |
Options available for future grants |  |  | 260,961 |  |  |  | 505,493 |  |  |  | 650,345 |
Exercisable options |  |  | 445,387 |  |  |  | 585,424 |  |  |  | 529,691 |
Stock Options Outstanding and Exercisable | The following table summarizes the status of stock options outstanding and exercisable at March 31, 2018:
Range of Exercise Prices |  | Number of Outstanding Options |  |  | Weighted Average Remaining Contractual Life |  |  | Outstanding Options – Weighted Average Exercise Price |  |  | Exercisable Options – Number of Exercisable Options |  |  | Exercisable Options – Weighted Average Exercise Price |
$12.71 to $32.10 |  |  | 292,156 |  |  |  | 2.84 |  |  | $ | 24.96 |  |  |  | 195,387 |  |  | $ | 21.42 |
$32.11 to $34.78 |  |  | 177,354 |  |  |  | 2.91 |  |  |  | 34.41 |  |  |  | 85,900 |  |  |  | 34.37 |
$34.79 to $44.86 |  |  | 186,408 |  |  |  | 3.19 |  |  |  | 41.20 |  |  |  | 106,502 |  |  |  | 41.22 |
$44.87 to $57.75 |  |  | 408,521 |  |  |  | 4.38 |  |  |  | 52.58 |  |  |  | 57,598 |  |  |  | 45.60 |
Total |  |  | 1,064,439 |  |  |  | 3.40 |  |  | $ | 39.45 |  |  |  | 445,387 |  |  | $ | 31.78 |
Outstanding Options | The following table summarizes the status of all outstanding options at March 31, 2018, and changes during the fiscal year then ended:
|  | Number of Options |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value as of March 31, 2018 |
Options outstanding, March 31, 2017 |  |  | 1,143,928 |  |  | $ | 32.02 |  |  |  |  |  |  |  |  |
Granted |  |  | 334,200 |  |  |  | 52.57 |  |  |  |  |  |  |  |  |
Exercised |  |  | (314,846 | ) |  |  | 27.59 |  |  |  |  |  |  |  |  |
Cancelled – forfeited |  |  | (81,586 | ) |  |  | 36.22 |  |  |  |  |  |  |  |  |
Cancelled – expired |  |  | (17,257 | ) |  |  | 27.57 |  |  |  |  |  |  |  |  |
Options outstanding, March 31, 2018 |  |  | 1,064,439 |  |  | $ | 39.45 |  |  |  | 3.41 |  |  | $ | 12,986,338 |
Options vested and expected to vest |  |  | 959,664 |  |  | $ | 39.76 |  |  |  | 3.43 |  |  | $ | 10,249,240 |
Ending exercisable |  |  | 445,387 |  |  | $ | 31.78 |  |  |  | 2.45 |  |  | $ | 8,360,918 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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