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Earnings per Share and Stock Plans (Tables)

12 Months Ended

Mar. 31, 2024

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:						2024						2023						2022
Net income						$	46,625					$	48,429					$	29,660
Denominators:
Weighted-average common stock outstanding— denominator for basic EPS						28,728						28,600						28,040
Effect of dilutive employee stock options, RSU's and performance shares						298						218						361
Adjusted weighted-average common stock outstanding and assumed conversions— denominator for diluted EPS						29,026						28,818						28,401

Schedule of Stock Options Roll Forward

A summary of option transactions during each of the three fiscal years in the period ended March 31, 2024 is as follows:

						Shares						Weighted- average Exercise Price per share						Weighted- average Remaining Contractual Life (in years)						Aggregate Intrinsic Value
Outstanding at April 1, 2021						657,814						$	27.45					7.29						$	16,652
Granted						159,643						54.06
Exercised						(105,132)						25.24
Cancelled						(32,540)						31.71
Outstanding at March 31, 2022						679,785						$	33.82					7.08						$	15,294
Granted						394,586						34.91
Exercised						(32,158)						22.15
Cancelled						(67,042)						35.32
Outstanding at March 31, 2023						975,171						$	34.54					7.13						$	5,497
Granted						298,674						36.19
Exercised						(62,060)						25.73
Cancelled						(17,945)						37.49
Outstanding at March 31, 2024						1,193,840						35.37						6.93						$	12,392
Exercisable at March 31, 2024						600,072						$	33.47					5.43						$	6,888

Schedule of Share-based Compensation, Stock Options, Activity

The following table provides certain information with respect to stock options outstanding at March 31, 2024:

						Stock Options Outstanding						Weighted-average Exercise Price						Weighted-average Remaining Contractual Life
Range of Exercise Prices
$10.01 to 20.00						51,957						$	15.16					2.15
$20.01 to 30.00						219,998						$	26.60					5.19
$30.01 to $40.00						700,333						$	35.05					7.75
$40.01 to $50.00						82,181						$	42.77					7.94
$50.01 to $60.00						139,371						$	54.26					6.72
						1,193,840						$	35.37					6.93

The following table provides certain information with respect to stock options exercisable at March 31, 2024:

Range of Exercise Prices						Stock Options Exercisable						Weighted- average Exercise Price per share
$10.01 to 20.00						51,957						$	15.16
$20.01 to 30.00						219,998						26.60
$30.01 to $40.00						227,117						35.16
$40.01 to $50.00						4,244						49.36
$50.01 to $60.00						96,756						54.26
						600,072						$	33.47

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 2024, 2023, and 2022:

						Year Ended March 31, 2024						Year Ended March 31, 2023						Year Ended March 31, 2022
Assumptions:
Risk-free interest rate						4.28		%				2.53		%				0.35		%
Dividend yield						0.77		%				0.81		%				0.44		%
Volatility factor						0.336						0.330						0.372
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, 2024 is as follows:

						Shares						Weighted-average Grant Date Fair Value per share
Unvested at April 1, 2021						269,789						$	32.41
Granted						133,082						49.98
Vested						(138,407)						35.71
Forfeited						(19,728)						35.41
Unvested at March 31, 2022						244,736						$	39.86
Granted						161,582						31.61
Vested						(132,953)						35.44
Forfeited						(26,140)						38.15
Unvested at March 31, 2023						247,225						$	37.02
Granted						159,816						37.57
Vested						(145,862)						39.21
Forfeited						(10,267)						41.61
Unvested at March 31, 2024						250,912						$	35.91

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, 2024 is as follows:

						Shares						Weighted-average Grant Date Fair Value per share
Unvested at April 1, 2021						123,232						$	29.58
Granted						41,322						52.01
Vested						(18,296)						36.43
Forfeited						(8,226)						30.25
Unvested at March 31, 2022						138,032						$	35.35
Granted						67,606						33.03
Forfeited						(26,633)						35.26
Unvested at March 31, 2023						179,005						$	34.49
Granted						73,453						36.58
Vested						(39,720)						35.95
Forfeited						(33,838)						28.66
Unvested at March 31, 2024						178,900						$	36.13

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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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