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Note 10 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

		Year Ended March 31,
		2016				2015				2014
Domestic		$	14,427			$	14,896			$	13,103
Foreign			1,128				451				--
		$	15,555			$	15,347			$	13,103

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year Ended March 31,
		2016				2015				2014
Current tax provision
Federal		$	3,666			$	4,186			$	4,031
State			627				1,135				106
Foreign			658				212				--
			4,951				5,533				4,137
Deferred tax provision:
Federal			(189	)			252				(19	)
State			(138	)			51				(15	)
Foreign			(238	)			(72	)			--
			(565	)			231				(34	)
		$	4,386			$	5,764			$	4,103

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		March 31,
		201 6				201 5
Current deferred tax assets:
Accrued employee-related expenses		$	257			$	252
Allowances and reserves			217				346
Stock option deductible differences			606				388
Inventory			533				252
Foreign tax credit mirror			--				285
Currency translation adjustment			12				144
Net operating loss			110				22
Other			3				--
			1,738				1,689
Long-term deferred tax liability:
Property, plant and equipment			(1,599	)			(1,478	)
Goodwill and intangible assets			(4,335	)			(3,644	)
Other			(5	)			--
			(5,939	)			(5,122	)
Net deferred tax liability		$	(4,201	)		$	(3,433	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Year Ended March 31,
		2016				2015				2014
Federal income taxes at statutory rates		$	5,445			$	5,374			$	4,586
State income taxes, net of federal benefit			293				860				78
Tax benefit of stock option exercises			(751	)			209				5
Section 199 manufacturing deduction			(440	)			(317	)			(250	)
Research and development credit			(345	)			(248	)			(159	)
Other			184				(114	)			(157	)
		$	4,386			$	5,764			$	4,103

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		Year Ended March 31,
		2016				2015				2014
Beginning balance		$	--			$	--			$	--
Increases related to current period tax positions			221				--				--
Ending balance		$	221			$	--			$	--

X

- 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

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