Note 12 - Income Taxes	9 Months Ended
Dec. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 1 2 – Income Taxes For interim income tax reporting, we estimate our annual effective tax rate and apply this effective tax rate to our year to date pre-tax (loss) income. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. Additionally, the tax effects of significant unusual or infrequently occurring items are recognized as discrete items in the interim period in which the events occur. The impact of changes in tax laws or rates on deferred tax amounts, impairments of non-deductible goodwill, excess benefits from stock-based compensation, and changes in tax reserves resulting from the finalization of tax audits or reviews are examples of significant unusual or infrequently occurring items that are recognized as discrete items in the interim period in which the event occurs. There is a potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, settlement with taxing authorities, and foreign currency fluctuations. On December 22, 2017, the Tax Cuts and Jobs Act ("TCJA") was enacted in the U.S., making significant changes to U.S. tax law. The TCJA reduces the U.S. federal corporate income tax rate from 34 percent to 21 percent, requires companies to pay a one -time transition tax on certain un-remitted earnings of foreign subsidiaries that were previously tax deferred, generally eliminates U.S. federal income tax on dividends from foreign subsidiaries, creates new taxes on certain foreign-sourced earnings, repeals the Section 199 deduction, and imposes limitations on executive compensation under Section 162 (m). During the quarter ended December 31, 2017, we revised our estimated annual effective tax rate to reflect the change in the federal statutory rate. The rate change results in the Company using a blended statutory rate for the annual period of 30.9 percent. Shortly thereafter, the SEC staff issued SAB 118, which provides guidance on accounting for the tax effects of the TCJA for which the accounting under ASC 740 is incomplete. To the extent that a company's accounting for certain income tax effects of the TCJA is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before enactment of the TCJA. Accordingly, as of December 31, 2017, we have not completed our accounting for the tax effects of the TCJA. However, we made a reasonable estimate of the one -time transition tax and recognized a provisional tax liability of $ 285,000. We also re-measured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. However, we are still analyzing certain aspects of the TCJA and refining our calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. The provisional amount recorded related to the re-measurement of our deferred tax balance was a benefit of $722,000. Overall, the TCJA resulted in a net tax benefit of $437,000. Such amount was recorded as a discrete tax benefit and is included as a component of income tax expense in the accompanying condensed consolidated statements of operations for the three and nine months ending December 31, 2017. Our effective income tax rate was ( 5.3 ) percent and 16.2 percent for the three months ended December 31, 2017 and 2016, respectively, and ( 18.0 ) percent and 18.6 percent for the nine months ended December 31, 2017 and 2016, respectively. The effective tax rate for the three and nine months ended December 31, 2017 differed from the statutory federal ra te of 30.9 p ercent primarily due to the impact of the impairment of non-deductible goodwill, the TCJA, share-based payment awards for employees (which was significant for the nine months ended December 31, 2017), state income taxes, domestic manufacturing deductions and foreign rate differential. Since we are subject to audit by various taxing authorities, it is reasonably possible that the amount of unrecognized tax benefits will change during the next 12 months. However, we do not expect the change, if any, to have a material effect on our financial condition or results of operations within the next 12 months.

Note

– Income Taxes

For interim income tax reporting, we estimate our annual effective tax rate and apply this effective tax rate to our year to date pre-tax

(loss) income. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. Additionally, the tax effects of significant unusual or infrequently occurring items are recognized as discrete items in the interim period in which the events occur. The impact of changes in tax laws or rates on deferred tax amounts, impairments of non-deductible goodwill, excess benefits from stock-based compensation, and changes in tax reserves resulting from the finalization of tax audits or reviews are examples of significant unusual or infrequently occurring items that are recognized as discrete items in the interim period in which the event occurs. There is a potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, settlement with taxing authorities, and foreign currency fluctuations.

December 22, 2017,

the Tax Cuts and Jobs Act ("TCJA") was enacted in the U.S., making significant changes to U.S. tax law. The TCJA reduces the U.S. federal corporate income tax rate from

percent to

percent, requires companies to pay a

one

-time transition tax on certain un-remitted earnings of foreign subsidiaries that were previously tax deferred, generally eliminates U.S. federal income tax on dividends from foreign subsidiaries, creates new taxes on certain foreign-sourced earnings, repeals the Section

199

deduction, and imposes limitations on executive compensation under Section

162

(m). During the quarter ended

December 31, 2017,

we revised our estimated annual effective tax rate to reflect the change in the federal statutory rate. The rate change results in the Company using a blended statutory rate for the annual period of

30.9

percent.

Shortly thereafter, the SEC staff issued SAB

118,

which provides guidance on accounting for the tax effects of the TCJA for which the accounting under ASC

740

is incomplete. To the extent that a company's accounting for certain income tax effects of the TCJA is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC

740

on the basis of the provisions of the tax laws that were in effect immediately before enactment of the TCJA.

Accordingly, as of

December 31, 2017,

we have

not

completed our accounting for the tax effects of the TCJA. However, we made a reasonable estimate of the

one

-time transition tax and recognized a provisional tax liability of $

285,000.

We also re-measured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. However, we are still analyzing certain aspects of the TCJA and refining our calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. The provisional amount recorded related to the re-measurement of our deferred tax balance was a benefit of

$722,000.

Overall, the TCJA resulted in a net tax benefit of

$437,000.

Such amount was recorded as a discrete tax benefit and is included as a component of income tax expense in the accompanying condensed consolidated statements of operations for the

three

and

nine

months ending

December 31, 2017.

Our effective income tax rate was (

5.3

) percent and

16.2

percent for the

three

months ended

December 31, 2017

and

2016,

respectively, and (

18.0

) percent and

18.6

percent for the

nine

months ended

December 31, 2017

and

2016,

respectively. The effective tax rate for the

three

and

nine

months ended

December 31, 2017

differed from the statutory federal ra

te of

30.9

ercent primarily due to the impact of the impairment of non-deductible goodwill, the TCJA, share-based payment awards for employees (which was significant for the

nine

months ended

December 31, 2017),

state income taxes, domestic manufacturing deductions and foreign rate differential.

Since we are subject to audit by various taxing authorities, it is reasonably possible that the amount of unrecognized tax benefits will change during the next

months. However, we do

not

expect the change, if any, to have a material effect on our financial condition or results of operations within the next

months.