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Earnings Per Share and Stock Plans (Tables)

12 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted earnings per share (share data presented in thousands):

						Year Ended March 31,
Numerator for basic and diluted earnings per share:						2021						2020						2019
Net income						$	9,106					$	59,672					$	42,577
Denominators:
Weighted-average common stock outstanding— denominator for basic EPS						23,897						23,619						23,276
Effect of dilutive employee stock options, RSU's and performance shares						276						236						384
Adjusted weighted-average common stock outstanding and assumed conversions— denominator for diluted EPS						24,173						23,855						23,660

Schedule of Stock Options Roll Forward

A summary of option transactions during each of the three fiscal years in the period ended March 31, 2021 is as follows:

						Shares						Weighted- average Exercise Price per share						Weighted- average Remaining Contractual Life (in years)						Aggregate Intrinsic Value
Outstanding at April 1, 2018						922,450						21.04						7.56						$	13,654
Granted						133,743						38.70
Exercised						(187,907)						22.09
Cancelled						(33,509)						23.94
Outstanding at March 31, 2019						834,777						23.52						7.04						$	9,602
Granted						171,515						35.16
Exercised						(296,027)						20.26
Cancelled						(183,471)						31.01
Outstanding at March 31, 2020						526,794						26.53						6.93						$	1,518
Granted						242,178						26.74
Exercised						(97,398)						20.24
Cancelled						(13,760)						31.85
Outstanding at March 31, 2021						657,814						27.45						7.29						$	16,652
Exercisable at March 31, 2021						268,815						$	24.41					5.66						$	7,622

Schedule of Share-based Compensation, Stock Options, Activity

The following table provides certain information with respect to stock options outstanding at March 31, 2021:

						Stock Options Outstanding						Weighted-average Exercise Price						Weighted-average Remaining Contractual Life
Range of Exercise Prices
$10.01 to 20.00						90,811						$	15.26					4.92
$20.01 to 30.00						322,668						$	25.15					7.41
$30.01 to $40.00						244,335						$35.01						8.02
						657,814						$	27.45					7.29

The following table provides certain information with respect to stock options exercisable at March 31, 2021:

Range of Exercise Prices						Stock Options Exercisable						Weighted- average Exercise Price per share
$10.01 to $20.00						90,811						$	15.26
$20.01 to $30.00						116,935						24.81
$30.01 to $40.00						61,069						37.25
						268,815						$	24.41

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table provides the weighted-average assumptions used to value stock options granted during fiscal 2021, 2020, and 2019:

						Year Ended March 31, 2021						Year Ended March 31, 2020						Year Ended March 31, 2019
Assumptions:
Risk-free interest rate						0.23		%				2.23		%				2.64		%
Dividend yield						0.90		%				0.68		%				0.52		%
Volatility factor						0.380						0.372						0.352
Expected life						5.5 years						5.5 years						5.5 years

Schedule of Unvested Restricted Stock Units Roll Forward

A summary of the restricted stock unit awards granted under the Company’s LTIP plan as of March 31, 2021 is as follows:

						Shares						Weighted-average Grant Date Fair Value per share
Unvested at April 1, 2018						336,789						$	22.62
Granted						116,942						37.90
Vested						(211,932)						22.66
Forfeited						(11,602)						25.18
Unvested at March 31, 2019						230,197						$	30.22
Granted						151,351						38.40
Vested						(106,792)						31.90
Forfeited						(62,035)						31.61
Unvested at March 31, 2020						212,721						$	35.20
Granted						195,181						29.16
Vested						(125,150)						31.85
Forfeited						(12,963)						34.74
Unvested at March 31, 2021						269,789						$	32.41

Schedule of Nonvested Performance-based Units Activity

A summary of the performance shares transactions during each of the three fiscal years in the period ended March 31, 2021 is as follows:

						Shares						Weighted-average Grant Date Fair Value per share
Unvested at April 1, 2018						126,570						$	19.42
Granted						34,695						36.43
Forfeited						(7,879)						22.40
Unvested at March 31, 2019						153,386						$	23.11
Granted						38,585						37.67
Forfeited						(125,251)						22.67
Unvested at March 31, 2020						66,720						$	32.36
Granted						83,164						25.97
Vested						(23,201)						25.28
Forfeited						(3,451)						25.28
Unvested at March 31, 2021						123,232						$	29.58

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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