Unaudited Quarterly Financial Information (Tables)

12 Months Ended

Mar. 31, 2020

Unaudited quarterly financial information for 2020 and 2019 is as follows:

Year Ended March 31, 2020


	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2019		September 30, 2019		December 31, 2019		March 31, 2020
Total revenues	$	232,154	$	238,069	$	241,552	$	251,235
Cost of sales	98,087		101,318		104,057		107,325
Gross profit	134,067		136,751		137,495		143,910

Operating expenses
Advertising and promotion	34,801		38,667		33,559		40,167
General and administrative	21,706		22,514		21,308		23,584
Depreciation and amortization	6,074		6,222		6,224		6,242


Total operating expenses	62,581		67,403		61,091		69,993
Operating income	71,486		69,348		76,404		73,917
Interest expense, net of interest income	25,020		24,477		24,275		22,452

Loss on extinguishment of debt	—		—		2,155		—
Other expense (income), net	416		859		(580)		930
Income before income taxes	46,050		44,012		50,554		50,535
Provision for income taxes	12,125		10,760		12,496		13,489
Net income	$	33,925	$	33,252	$	38,058	$	37,046

Earnings per share:
Basic	$	0.66	$	0.66	$	0.76	$	0.74
Diluted	$	0.65	$	0.65	$	0.75	$	0.73

Weighted average shares outstanding:
Basic	51,697		50,455		50,378		50,367
Diluted	52,047		50,811		50,831		50,878

Comprehensive (loss) income, net of tax:
Currency translation adjustments	(224)		(3,584)		3,497		(12,052)
Unrealized loss on interest rate swaps	—		—		—		(4,864)
Unrecognized net gain on pension plans	—		—		—		(1,187)
Total other comprehensive (loss) income	(224)		(3,584)		3,497		(18,103)
Comprehensive income	$	33,701	$	29,668	$	41,555	$	18,943

Year Ended March 31, 2019


	Quarterly Period Ended
(In thousands, except for per share data)	June 30, 2018		September 30, 2018		December 31, 2018		March 31, 2019
Total revenues	$	253,980	$	239,357	$	241,414	$	241,026
Cost of sales	113,357		101,885		102,179		102,780
Gross profit	140,623		137,472		139,235		138,246

Operating expenses
Advertising and promotion	37,111		37,042		34,504		34,433
General and administrative	23,941		24,034		20,485		21,299
Depreciation and amortization	7,084		6,756		6,705		6,502
Gain on divestiture	—		(1,284)		—		—
Goodwill and tradename impairment	—		—		—		229,461
Total operating expenses	68,136		66,548		61,694		291,695
Operating income (loss)	72,487		70,924		77,541		(153,449)
Interest expense, net of interest income	25,940		27,070		26,327		25,745


Other expense (income), net	87		335		218		(164)
Income (loss) before income taxes	46,460		43,519		50,996		(179,030)
Provision (benefit) for income taxes	11,994		12,678		12,829		(39,756)
Net income (loss)	$	34,466	$	30,841	$	38,167	$	(139,274)

Earnings (loss) per share:
Basic	$	0.65	$	0.59	$	0.74	$	(2.68)
Diluted	$	0.65	$	0.59	$	0.73	$	(2.68)

Weighted average shares outstanding:
Basic	52,640		51,841		51,881		51,912
Diluted	52,942		52,153		52,202		51,912

Comprehensive (loss) income, net of tax:
Currency translation adjustments	(2,974)		(2,145)		(2,020)		659
Unrecognized net loss on pension plans	—		—		—		48
Total other comprehensive (loss) income	(2,974)		(2,145)		(2,020)		707
Comprehensive income (loss)	$	31,492	$	28,696	$	36,147	$	(138,567)