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Unaudited Quarterly Financial Data
 12 Months Ended
Mar. 31, 2013
Unaudited Quarterly Financial Data [Abstract]  
Unaudited Quarterly Financial Data [Text Block]
24. Unaudited Quarterly Financial Data

The following table summarizes selected quarterly financial data for the fiscal year ended March 31, 2013.

 
First
 
 
Second
 
 
Third
 
 
Fourth
 
 
 
Quarter
 
 
Quarter
 
 
Quarter
 
 
Quarter
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
89,023,000
 
 
$
111,632,000
 
 
$
116,275,000
 
 
$
89,336,000
 
Cost of goods sold
 
 
76,909,000
 
 
 
94,911,000
 
 
 
92,232,000
 
 
 
86,486,000
 
Gross profit
 
 
12,114,000
 
 
 
16,721,000
 
 
 
24,043,000
 
 
 
2,850,000
 
Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative
 
 
11,564,000
 
 
 
11,193,000
 
 
 
12,779,000
 
 
 
8,990,000
 
Sales and marketing
 
 
3,539,000
 
 
 
3,904,000
 
 
 
2,687,000
 
 
 
2,583,000
 
Research and development
 
 
436,000
 
 
 
461,000
 
 
 
807,000
 
 
 
924,000
 
Impairment of goodwill and intangible assets
 
 
-
 
 
 
-
 
 
 
-
 
 
 
84,686,000
 
Total operating expenses
 
 
15,539,000
 
 
 
15,558,000
 
 
 
16,273,000
 
 
 
97,183,000
 
Operating (loss) income
 
 
(3,425,000
)
 
 
1,163,000
 
 
 
7,770,000
 
 
 
(94,333,000
)
Other expense:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
5,084,000
 
 
 
6,162,000
 
 
 
5,889,000
 
 
 
7,271,000
 
(Loss) income before income tax expense (benefit)
 
 
(8,509,000
)
 
 
(4,999,000
)
 
 
1,881,000
 
 
 
(101,604,000
)
Income tax expense (benefit)
 
 
1,353,000
 
 
 
3,934,000
 
 
 
946,000
 
 
 
(27,953,000
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(9,862,000
)
 
$
(8,933,000
)
 
$
935,000
 
 
$
(73,651,000
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic net (loss) income per share
 
$
(0.71
)
 
$
(0.62
)
 
$
0.06
 
 
$
(5.09
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted net (loss) income  per share
 
$
(0.71
)
 
$
(0.62
)
 
$
0.06
 
 
$
(5.09
)
 
The following table summarizes selected quarterly financial data for the fiscal year ended March 31, 2012 including the Fenco operations from the date of acquisition on May 6, 2011:
 
 
First
 
 
Second
 
 
Third
 
 
Fourth
 
 
 
Quarter
 
 
Quarter
 
 
Quarter
 
 
Quarter
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
70,510,000
 
 
$
107,616,000
 
 
$
84,097,000
 
 
$
101,464,000
 
Cost of goods sold
 
 
63,477,000
 
 
 
92,637,000
 
 
 
85,678,000
 
 
 
94,188,000
 
Gross profit (loss)
 
 
7,033,000
 
 
 
14,979,000
 
 
 
(1,581,000
)
 
 
7,276,000
 
Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative
 
 
8,309,000
 
 
 
11,309,000
 
 
 
10,155,000
 
 
 
9,108,000
 
Sales and marketing
 
 
2,453,000
 
 
 
3,197,000
 
 
 
3,369,000
 
 
 
3,785,000
 
Research and development
 
 
416,000
 
 
 
401,000
 
 
 
453,000
 
 
 
495,000
 
Impairment of plant and equipment
 
 
-
 
 
 
-
 
 
 
1,031,000
 
 
 
-
 
Acquisition costs
 
 
404,000
 
 
 
309,000
 
 
 
-
 
 
 
-
 
Total operating expenses
 
 
11,582,000
 
 
 
15,216,000
 
 
 
15,008,000
 
 
 
13,388,000
 
Operating loss
 
 
(4,549,000
)
 
 
(237,000
)
 
 
(16,589,000
)
 
 
(6,112,000
)
Other expense:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
1,914,000
 
 
 
3,389,000
 
 
 
3,262,000
 
 
 
5,690,000
 
Loss before income tax expense
 
 
(6,463,000
)
 
 
(3,626,000
)
 
 
(19,851,000
)
 
 
(11,802,000
)
Income tax expense
 
 
1,842,000
 
 
 
1,813,000
 
 
 
1,976,000
 
 
 
1,141,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(8,305,000
)
 
$
(5,439,000
)
 
$
(21,827,000
)
 
$
(12,943,000
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic net loss per share
 
$
(0.68
)
 
$
(0.44
)
 
$
(1.74
)
 
$
(1.03
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted net loss per share
 
$
(0.68
)
 
$
(0.44
)
 
$
(1.74
)
 
$
(1.03
)
 
Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year shown elsewhere in the Annual Report on Form 10-K.