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INCOME TAXES (Tables) | 12 Months Ended
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Mar. 31, 2013
INCOME TAXES [Abstract] |
Reconciliation of gross unrecognized tax benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):
|  | Year Ended March 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Beginning balance |  | $ | 316 |  |  | $ | 719 |  |  | $ | 461 |
Additions for uncertain tax positions |  |  | - |  |  |  | - |  |  |  | 403 |
Reductions to uncertain tax positions |  |  | - |  |  |  | (403 | ) |  |  | (145 | )
Ending balance |  | $ | 316 |  |  | $ | 316 |  |  | $ | 719 |
Reconciliation of income taxes to the statutory federal income tax rate | A reconciliation of income taxes computed at the statutory federal income tax rate of 35% to the provision for income taxes included in the consolidated statements of operations is as follows (in thousands, except percentages):
|  | Year Ended March 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Statutory federal income tax rate |  |  | 35 | % |  |  | 35 | % |  |  | 35 | %
Income tax expense computed at the U.S. statutory federal rate |  | $ | 20,555 |  |  | $ | 13,850 |  |  | $ | 14,199 |
State income tax expense—net of federal benefit |  |  | 2,894 |  |  |  | 2,096 |  |  |  | 1,861 |
Non-deductible executive compensation |  |  | 150 |  |  |  | 152 |  |  |  | 81 |
Other |  |  | 316 |  |  |  | 109 |  |  |  | 700 |
Provision for income taxes |  | $ | 23,915 |  |  | $ | 16,207 |  |  | $ | 16,841 |
Effective income tax rate |  |  | 40.7 | % |  |  | 41.0 | % |  |  | 41.5 | %
Components of the provision for income taxes | The components of the provision for income taxes are as follows (in thousands):
|  | Year Ended March 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 20,041 |  |  | $ | 12,266 |  |  | $ | 10,604 |
State |  |  | 4,453 |  |  |  | 3,088 |  |  |  | 3,774 |
Foreign |  |  | 36 |  |  |  | 59 |  |  |  | 39 |
Total current expense |  |  | 24,530 |  |  |  | 15,413 |  |  |  | 14,417 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (581 | ) |  |  | 814 |  |  |  | 2,846 |
State |  |  | (34 | ) |  |  | (20 | ) |  |  | (422 | )
Total deferred expense (benefit) |  |  | (615 | ) |  |  | 794 |  |  |  | 2,424 |
Provision for income taxes |  | $ | 23,915 |  |  | $ | 16,207 |  |  | $ | 16,841 |
Components of deferred tax assets and liabilities | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities were as follows (in thousands):
|  | March 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Deferred Tax Assets: |  |  |  |  |  |  |  |  |
Accrued vacation |  | $ | 1,345 |  |  | $ | 1,174 |  |  | $ | 1,174 |
Provision for bad debts |  |  | 1,997 |  |  |  | 2,149 |  |  |  | 1,024 |
State net operating loss carryforward |  |  | 1,505 |  |  |  | 1,217 |  |  |  | 1,296 |
Basis difference in fixed assets |  |  | - |  |  |  | - |  |  |  | 147 |
Book compensation on discounted stock options |  |  | 77 |  |  |  | 262 |  |  |  | 611 |
Deferred compensation |  |  | 898 |  |  |  | 797 |  |  |  | 716 |
Deferred revenue |  |  | 221 |  |  |  | 140 |  |  |  | 203 |
Foreign tax credit |  |  | - |  |  |  | - |  |  |  | 72 |
Federal net operating loss carry forward |  |  | 168 |  |  |  | 111 |  |  |  | - |
Other accruals and reserves |  |  | 2,043 |  |  |  | 1,918 |  |  |  | 1,206 |
Gross deferred tax assets |  |  | 8,254 |  |  |  | 7,768 |  |  |  | 6,449 |
Less: valuation allowance |  |  | (1,505 | ) |  |  | (1,217 | ) |  |  | (1,296 | )
Net deferred tax assets |  |  | 6,749 |  |  |  | 6,551 |  |  |  | 5,153 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Basis difference in fixed assets |  |  | (491 | ) |  |  | (378 | ) |  |  | - |
Basis difference in operating leases |  |  | (8,765 | ) |  |  | (9,764 | ) |  |  | (8,645 | )
Basis difference in tax deductible goodwill |  |  | (2,288 | ) |  |  | (2,195 | ) |  |  | (735 | )
Total deferred tax liabilities |  |  | (11,544 | ) |  |  | (12,337 | ) |  |  | (9,380 | )
Net deferred tax liabilities |  | $ | (4,795 | ) |  | $ | (5,786 | ) |  | $ | (4,227 | )

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=21917533&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
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